AAM, the American axle manufacturing company, recently released its financial report for the third quarter of 2012. The details are as follows:
In the third quarter of 2012, AAM’s net sales were US$702.9 million, a year-on-year increase of 8.5%, of which Non-GM’s sales were US$198.8 million, a year-on-year increase of 14%; AAM’s net sales were 6.476 in the third quarter of 2011 One hundred million U.S. dollars.
In the first three quarters of 2012, AAM’s net sales totaled 2.194 billion U.S. dollars, up 10.9% year-on-year. In the first three quarters of 2011, net sales were 1.979 billion U.S. dollars. In the first three quarters, AAM’s non-GM sales were US$ 588.5 million. , a year-on-year increase of about 10%.
AAM’s gross profit for the third quarter was US$90.7 million, accounting for 12.9% of sales; operating profit was US$30.1 million, accounting for 4.3% of sales. In the first three quarters of 2012, AAM’s total gross profit was 315.7 million US dollars, accounting for 14.4% of sales; in the first three quarters, operating profit reached 137.8 million US dollars, accounting for 6.3% of sales.
In the third quarter of 2012, AAM was in a loss state with a net loss of US$8.2 million and a net profit of US$22.6 million in the same period of 2011. In the first three quarters of 2012, AAM’s total net profit was US$46.8 million, a year-on-year decrease of 56.3%. The total net profit for the same period in 2011 was US$107.1 million.
In the third quarter, AAM’s sales management expenses, SG&A, was US$60.6 million, which represented a year-on-year increase of 2.7%. In the first three quarters, sales management expenses were US$177.9 million, a year-on-year increase of 1.95%. In the third quarter, AAM’s R&D expenditures were US$31.4 million, a year-on-year decrease of 1.1%; cumulative R&D expenditure during the first three quarters was US$90.3 million, an increase of 5.74% year-on-year.
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