American Axle posts loss on debt refinancing costs
(Reuters) - U.S. auto parts supplier American Axle and Manufacturing Holdings Inc (AXL.N) reported a quarterly loss, hurt by debt refinancing and redemption costs of $10.1 million.
The company reported a net loss of $8.2 million, or 11 cents per share, in the third quarter, compared with a profit of $22.6 million, or 33 cents per share, a year earlier.
Revenue rose 8.5 percent to $702.9 million.
Shares of the company were down marginally at $11.53 before the bell after closing at $11.59 on Thursday.
(Reporting by Bijoy Koyitty in Bangalore; Editing by Supriya Kurane)
- U.S. Mega Millions lottery up to $400 million, 2nd-biggest ever
- Uruguay becomes first country to legalize marijuana trade
- Pope Francis named Time's Person of the Year
- Thousands of South Africans line up to see Mandela lie in state |
- China bitcoin arbitrage ends as traders work around capital controls