The company also increased its new business backlog for 2008 to 2012 by
While production of full-size sport-utility vehicles and pickup trucks for GM and the Chrysler Group was flat year over year, production on midsize SUV and truck programs American Axle supplies was down about 18%.
Net income for the quarter ended
Revenue increased to 4.8% to
Analysts surveyed by Thomson Financial forecast earnings of
"Through the first half of 2007, AAM is on track to achieve its annual objectives for sales growth, margin expansion and free cash flow generation," said American Axle Chairman and Chief Executive Richard E. Dauch in a statement.
American Axle said that much of the new business it will launch in 2008 through 2012 will be built at its non-U.S. plants and that about half the business is for rear-wheel-drive and all-wheel-drive passenger car and crossover vehicle applications.
The company is working to lessen its dependence on pickup truck and sport- utility vehicles and to widen its customer base.