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Allison Reports Income, Revenue Gains in 2Q

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July 24, 2014 by   Comments Off on Allison Reports Income, Revenue Gains in 2Q

  Allison Transmission Holdings Inc. reported its second-quarter net income increased on continued recovery of the North American on- and off-highway markets.

Indianapolis-based Allison earned $57.2 million, or 32 cents per share, up from $50.5 million, or 27 cents per share, in the same period in 2013. Revenue rose 5% to $536 million.

On-highway sales in North America increased 13% to $243 million in the second quarter, and off-highway sales jumped 188% to $23 million.

The company said the dramatic rise in off-highway sales was driven by higher demand from hydraulic fracturing uses.

“Our second-quarter 2014 results are within the full-year guidance ranges we affirmed on April 16. Net sales improved on a year-over-year basis for the third consecutive quarter, led by the continued recoveries in the North America on-highway and off-highway end markets partially offset by weakness in the outside North America end markets,” Allison Chairman and CEO Lawrence Dewey said in a statement.

For the full report click here.

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