DETROIT – American Axle & Manufacturing Holdings (AAM) has reported its financial results for the fourth quarter and full year 2011.  
 
AAM's net earnings in the fourth quarter of 2011 were $31.1 million, or 41 cents per share. This compares to net earnings of $34.9 million, or 47 cents per share, in the fourth quarter of 2010.
 
For the full year 2011, AAM's net earnings were $142.8 million, or $1.89 per share. This compares to net earnings of $115.4 million, or $1.55 per share in 2010.  
 
"The fourth quarter of 2011 capped a successful year for AAM. AAM's full-year sales growth of 13 percent was significantly higher than the industry growth rate, and our profitability was steady and strong throughout the year," said AAM's co-founder, chairman of the board and CEO Richard Dauch. "AAM's continued leadership in the development of advanced driveline technology has enabled us to grow our new business backlog to $1.1 billion in future annual sales for programs launching from 2012 through 2014.  Combined with AAM's outstanding operational expertise and our focus on achieving and sustaining market cost competitiveness in all of our global operations, we believe AAM is well positioned for continued profitable growth, accelerated business diversification and improved balance sheet strength."
 
Net sales in the fourth quarter of 2011 increased approximately 4 percent to $605.6 million as compared to $583.3 million in the fourth quarter of 2010. Net sales for the full year 2011 increased by 13 percent to $2.6 billion as compared to $2.3 billion in 2010.  
 
In the fourth quarter of 2011, AAM's operating income was $48.5 million or 8 percent of sales.  For the full year 2011, AAM's operating income was $223.4 million, or 8.6 percent of sales.    
 
In the fourth quarter of 2011, AAM's net income was $31.1 million or 5.1 percent of sales. Diluted earnings per share (EPS) were 41 cents per share in the fourth quarter of 2011. For the full year 2011, AAM's net income was $142.8 million or 5.5 percent of sales. Diluted earnings per share (EPS) were $1.89 per share for the full year 2011.