US: Net loss at American Axle widens in Q1

摘要

NET loss at American Axle Manufacturing (AAM) widened in the first quarter of 2009 to US$32.7m, compared with net loss of US$27m in the same quarter a year earlier. However, the component manufacturer managed to narrow its operating loss for the quarter to US$16.7m, whereas in Q1 of 2008 it had recorded an operating loss of US$36.7m. During this quarter, the supplier says it incurred special charges and non-recurring operating costs, especially due to workforce reductions and plant closures, of US$12.3m.