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CHICAGO, Oct 30 (Reuters) - American Axle & Manufacturing Holdings Inc. on Thursday reported higher quarterly earnings as it sold more light-truck parts.
Detroit-based American Axle, which makes components for the Dodge Ram pickup and Hummer H2 sport utility vehicle, said third-quarter net income rose to $38.7 million, or 71 cents a share, from $36.5 million, or 70 cents a share, a year ago.
Analysts had expected earnings of 70 cents a share, with estimates ranging from 54 cents to 73 cents, according to Reuters Research, a unit of Reuters Group Plc.
American Axle, which makes axles, driveshafts and chassis, said sales rose to a record $867.7 million from $828.7 a year ago.
The company reiterated its outlook for full-year 2003 earnings of $3.65 a share.
Analysts on average were expecting a 2003 profit of $3.60 a share, according to Reuters Research.