American Axle 1st-qtr earnings fall 64 percent

Newswire

CHICAGO, April 29 (Reuters) - American Axle & Manufacturing Holdings Inc. on Friday said first-quarter earnings slid nearly 64 percent because of cuts in North America light vehicle production and rising steel costs. Net income dropped to $13.3 million, or 26 cents per share, from $36.5 million, or 66 cents per share, a year earlier.

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