IBJNews

  • Home

Allison lowers outlook after profit slides 17 percent

 IBJ Staff
October 29, 2012
Keywords
Allison Transmission, Manufacturers, Manufacturing & Technology
Back to TopCommentsE-mailPrint

A sales slide led Allison Transmission Holdings Inc.’s profit to drop 17 percent in the third quarter.

The Indianapolis-based manufacturer on Monday said it earned $32.2 million, or 17 cents per share, in the quarter.

Revenue fell 14 percent, to $493.5 million, compared with $574 million in the same quarter of 2011.

Allison lowered its sales outlook by a range of 2.5 percent to 3.5 percent for the remainder of 2012 compared to a rise of 1 percent to 3 percent.

The company attributed weaker sales to its North American off-highway sales, which fell 71 percent. The drop largely happened because the company experienced unusually high demand a year earlier as natural gas fracturing went through a boom, Lawrence Dewey, the company’s president, CEO and chairman, told investors.

Allison’s biggest market, North American on-highway sales (commercial semis), fell 5 percent, to $189 million.

Allison shares closed at $19.45 each Friday. The market halted trading Monday because of Hurricane Sandy.

ADVERTISEMENT

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

ADVANCED SEARCH
Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ

  1. This is a big help. Thanks for share it here.

  2. Doug Henning!

  3. These guy were thugs — they grew up in freaking Haughville! Smh, sigh. If the mayor needs/wants "quality" Black Hoosiers who are NOT corrupt, give me a call — I know plenty. Land bank info here - http://www.kubepharm.com/indylandbank/IndyLandBank.html

  4. Magician and illusionist!

  5. The basic idea of nice apartments with parking and retail is a good one, but this design seems overwhelmingly big/tall for Broad Ripple. The size could be disguised a bit with lots of big trees/landscaping, but the complex is too massive to blend in easily. That section of canal between College and Westfield will also need to be upgraded on both sides. Nice apartments facing onto a nice promenade with shade trees/plantings could bring together the canal towpath/Monon recreation, the outdoor seating at existing restaurants, and this project into something that upgrades the whole area. A plan for the whole stretch makes more sense than facing nice new housing onto what looks like a ditch. Is there a plan? Does the public have input? Who pays? The apartment idea seems to be reasonable, but Whole Foods is not a good idea for appropriate retail. Besides the store being physically too big, there are already Fresh Market at 54xCollege and Whole Foods in Nora for fancy groceries. Good Earth and Kroger are within walking distance of the Shell site. There are at least 7 grocery stores within a safe bike ride. Whole Foods would add nothing but traffic congestion. This design is on the right track, but there needs to be more work done to ensure that it blends in with and enhances the existing community. A project that large will set a tone for that whole part of town. It could be a real asset, but only if done right.

ADVERTISEMENT