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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowAllison Transmission Holdings Inc. saw a smaller profit and declining revenue during the fourth quarter, the company announced late Monday.
Still, the results exceeded expectations of Wall Street analysts who follow the company.
The Indianapolis-based manufacturer realized earnings of $13 million, or 8 cents per share, in the quarter ended Dec. 31, down from $50.5 million, or 28 cents per share, in the fourth quarter of 2014.
Earnings, adjusted for asset impairment costs and amortization costs, were 76 cents per share. That surpassed the average estimate of 57 cents per share by nine analysts surveyed by Zacks Investment Research.
The automatic transmission maker posted revenue of $478.2 million in the period, also topping forecasts. Six analysts surveyed by Zacks expected $466.9 million.
For the year, the company reported profit of $182.3 million, or $1.03 per share, down from $228.6 million, or $1.27, the previous year.
Revenue was reported as $1.99 billion, down from $2.13 billion in 2014.
Allison Transmission shares fell 1.4 percent early Tuesday, to $23.22 each. The stock has fallen more than 27 percent in the last 12 months.
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