Allison Riding Big Third Quarter

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Allison Transmission is headquartered in Indianapolis. Allison Transmission is headquartered in Indianapolis.
INDIANAPOLIS -

Indianapolis-based Allison Transmission Holdings Inc. (NYSE: ALSN) says a 37 percent net sales increase helped drive up profit for the third quarter. The manufacturer is reporting quarterly net income of $111 million, compared to $45 million during the same period last year. Chief Executive Officer Larry Dewey says key metrics like margins and net cash provided by operating activities reached close to record highs in the third quarter.

He added "Allison's third quarter 2017 results exceeded the guidance ranges we provided to the market on July 31 principally driven by stronger than anticipated demand for North America service parts and North America Off-Highway products. Allison has demonstrated solid operating margins and free cash flow through the first half of the year, I am pleased to report that this trend continued in the third quarter." Dewey says full-year net sales guidance has been raised from a 15 to 17 percent increase to an increase in the range of 21 to 22 percent.

Allison says the primary driver in the big quarter was higher gross profit, as well as factors including long-term debt refinancing and favorable product warranty adjustments.

You can connect to more about the company's third quarter performance by clicking here.

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