Allison Transmission Holdings Q1 Profit Rises

(RTTNews) - Allison Transmission Holdings, Inc. (ALSN) Monday reported first-quarter net income of $52.1 million or $0.28 per share, up from $27.5 million or $0.15 per share in the same period last year.

On average, twelve analysts polled by Thomson Reuters expected the company to earn $0.25 per share for the quarter. Analysts' estimates typically exclude special items.

Sales rose 8 percent to $493.60 million from $457.40 million last year, while ten analysts expected sales of $482.02 million.

The company said although it is not providing specific second quarter 2014 guidance, Allison expects second quarter net sales to be higher than the same period in 2013. The anticipated year-over-year increase in second quarter net sales is expected to be principally driven by higher demand in the North America On-Highway, North America Off-Highway and Service Parts, Support Equipment & Other end markets partially offset by previously considered reductions in Defense net sales.

Looking ahead, the company is affirming its full year 2014 guidance released to the market on February 13 with net sales to increase in the range of 3 to 6 percent.