American Axle & Manufacturing Reports Q1 2006 Financial Results

    For more information:

    Media relations contact:            Investor relations contact:
    Carrie L.P. Gray                    Christopher M. Son
    Director, Corporate Relations       Director, Investor Relations
    (313) 758-4880                      (313) 758-4814
    
Email Contact                       
Email Contact


    Or visit the AAM website at 
http://www.aam.com



                 AMERICAN AXLE & MANUFACTURING HOLDINGS, INC.
                      CONSOLIDATED STATEMENTS OF INCOME
                                 (Unaudited)

    ----------------------------------------------------------------

                                        Three months ended
                                            March 31,
                               -------------------------------------
                                           2006    2005
                               -----------------  ------------------
                               (In millions, except per share data)


    Net sales                             $834.8  $818.9

    Cost of goods sold                     771.3   746.6
                                          ------- -------
    Gross profit                            63.5    72.3

    Selling, general and administrative
     expenses                               48.4    46.6
                                          ------- -------

    Operating income                        15.1    25.7

    Net interest expense                    (7.4)   (6.1)
    Other income (expense), net              0.6     0.3
                                          ------- -------

    Income before income taxes               8.3    19.9

    Income taxes                            (0.3)    6.6
                                          ------- -------

    Net income                              $8.6   $13.3
                                          ======= =======

    Diluted earnings per share             $0.17   $0.26
                                          ======= =======

    Diluted shares outstanding              51.1    51.1
                                          ======= =======


          AMERICAN AXLE & MANUFACTURING HOLDINGS, INC.
             CONDENSED CONSOLIDATED BALANCE SHEETS
                          (Unaudited)

    -------------------------------------------------------------


                                         March 31, December 31,
                                           2006       2005
                                       ----------- ------------
                                             (In millions)
                   ASSETS

    Current assets
         Cash and cash equivalents           $7.1      $3.7
         Accounts receivable, net           410.1     328.0
         Inventories, net                              222.4          207.2
                  Prepaid  expenses  and  other                    61.5            45.5
                  Deferred  income  taxes                              18.3            17.0
                                                                                  --------    --------
        Total  current  assets                                        719.4          601.4

        Property,  plant  and  equipment,  net        1,857.8      1,836.0
        Deferred  income  taxes                                          4.2              3.0
        Goodwill                                                                147.8          147.8
        Other  assets  and  deferred  charges                75.1            78.4
                                                                                  --------    --------
        Total  assets                                                  $2,804.3    $2,666.6
                                                                                  ========    ========



        LIABILITIES  AND  STOCKHOLDERS'  EQUITY

        Current  liabilities
                  Accounts  payable                                    $415.2        $381.1
                  Other  accrued  expenses                          157.2          168.1
                                                                                  --------    --------
        Total  current  liabilities                              572.4          549.2

        Long-term  debt                                                    574.5          489.2
        Deferred  income  taxes                                      116.7          116.1
        Postretirement  benefits  and  other
          long-term  liabilities                                    538.1          517.3
                                                                                  --------    --------
        Total  liabilities                                          1,801.7      1,671.8

        Stockholders'  equity                                    1,002.6          994.8
                                                                                  --------    --------
        Total  liabilities  and  stockholders'
          equity                                                            $2,804.3    $2,666.6
                                                                                  ========    ========



                                      AMERICAN  AXLE  &  MANUFACTURING  HOLDINGS,  INC.
                                  CONDENSED  CONSOLIDATED  STATEMENTS  OF  CASH  FLOWS
                                                                      (Unaudited)

        ---------------------------------------------------------------



                                                                                                            Three  months  ended
                                                                                                                        March  31,
                                                                                                      ---------------------------
                                                                                                            2006                              2005
                                                                                                      -------------  -------------
                                                                                                                      (In  millions)
        Operating  activities
                  Net  income                                                                      $8.6                            $13.3
                  Depreciation  and  amortization                                49.4                              43.4
                  Other                                                                              (51.0)                          (90.8)
                                                                                                      --------                      --------

        Net  cash  flow  provided  by  (used  in)
          operating  activities                                                            7.0                            (34.1)

        Purchases  of  property,  plant  &
          equipment                                                                              (80.8)                          (74.8)
                                                                                                      --------                      --------

        Net  cash  flow  after  purchases  of
          property,  plant  &  equipment                                          (73.8)                        (108.9)
                                                                                                      --------                      --------
        Net  cash  flow  provided  by  (used  in)
          operations                                                                            (73.8)                        (108.9)

        Net  increase  in  long-term  debt                                        84.8                            103.1
        Employee  stock  option  exercises                                        0.1                                2.2
        Dividends  paid                                                                        (7.7)                            (7.4)
                                                                                                      --------                      --------
        Net  cash  flow  provided  by  financing
          activities                                                                              77.2                              97.9

        Effect  of  exchange  rate  changes  on  cash                        -                                  (0.1)
                                                                                                      --------                      --------
        Net  increase  (decrease)  in  cash  and
          cash  equivalents                                                                    3.4                            (11.1)

        Cash  and  cash  equivalents  at
          beginning  of  period                                                              3.7                              14.4
                                                                                                      --------                      --------
        Cash  and  cash  equivalents  at  end  of
          period                                                                                      $7.1                              $3.3
                                                                                                      ========                      ========

        --------------------------------------------------------------------------

                                    AMERICAN  AXLE  &  MANUFACTURING  HOLDINGS,  INC.
                                                                SUPPLEMENTAL  DATA
                                                                      (Unaudited)
        --------------------------------------------------------------------------
 


« Previous Page 1 | 2 | 3 | 4 | 5  Next Page »



Review Article Be the first to review this article
HP

ACE2017

Featured Video
Editorial
Jeff RoweJeff's MCAD Blogging
by Jeff Rowe
APSX Bringing Injection Molding To The Desktop
Jobs
Inside Sales for SolidCAM at Newtown, PA
Director of Mechanical Engineering for Velodyne LIDAR at Morgan Hill, CA
Sr. GIS Technical Analyst for Southern California Edison SCE Transmission and Distribution Organization at Rosemead, CA
Architetural Project Manager for DRA Architects at Irvine, CA
Data Scientist for University of Utah at Salt Lake City, UT
Imagery Analyst for ARA at Albuquerque, NM -1229, NM
Upcoming Events
DriveWorks World at The Barley Store Laskey Lane Thelwall Cheshire United Kingdom - Mar 6 - 9, 2017
JEC World 2017 at Paris Nord Villepinte Exhibition Centre Paris France - Mar 14 - 16, 2017
SOLIDWORKS funding event – Leicester at The National Space Centre, Exploration Dr, Leicester, LE4 5NS Leicester United Kingdom - Mar 17, 2017
ACE 2017 Nashville at Nashville TN - Mar 21 - 23, 2017



Internet Business Systems © 2017 Internet Business Systems, Inc.
595 Millich Dr., Suite 216, Campbell, CA 95008
+1 (408)-337-6870 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering EDACafe - Electronic Design Automation GISCafe - Geographical Information Services TechJobsCafe - Technical Jobs and Resumes ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy Policy Advertise