DETROIT, July 24 (Reuters) - American Axle & Manufacturing Holdings Inc. said on Wednesday its quarterly earnings rose due to strong sales to automakers and cost controls.
American Axle, which makes axles and steering and suspension systems, said its second-quarter net income rose to $48.6 million, or 92 cents a share, from $34 million, or 72 cents a share, in the same period a year ago. Sales rose 9 percent, to $881.3 million from $811 million.
The analysts' consensus estimate from market researcher Thomson First Call was 89 cents per share, within a range of 83 cents to 95 cents.
In May, the company affirmed a second-quarter earnings forecast of 83 cents to 85 cents a share and raised its forecast for 2002 earnings to $2.80 to $2.85 a share.