Allison Transmission Holdings Inc. (ALSN) Monday reported first-quarter profit of $28 million or $0.15 per share, down from $58 million or $0.31 per share in the same period last year.
Adjusted earnings for the quarter was $80 million. On average, 10 analysts polled by Thomson Reuters expected the company to earn $0.20 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues totaled $457 million, down 24 percent from $601.9 million last year. Analysts expected revenues of $464.24 million.
Looking ahead, the company has affirmed its earnings outlook for the fiscal year 2013. The company currently projects sales growth in in the order of 6 percent to 8 percent.
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