INDIANAPOLIS - Indianapolis-based Allison Transmission Holdings Inc. (NYSE: ALSN) is reporting record full-year net income of $639 million in 2018, up from $504 million the previous year. Chief Executive Officer David Graziosi says the results were driven by a defined approach to capital structure and allocation.

“Allison achieved record levels of Net Sales, Net Income, Adjusted EBITDA, Net Cash Provided by Operating Activities and Adjusted Free Cash Flow. Full year net sales growth of 20 percent was surpassed, by even stronger growth in Net Income, up 27 percent, Diluted EPS, up 42 percent and Adjusted EBITDA, up 30 percent. And notably, double digit growth was realized in the Outside North America On-Highway end market for the third consecutive year.” Graziosi said in a news release.

Allison Transmission is also reporting fourth quarter net income of $147 million, down from $215 million during the same period in 2017. You can view the full earnings report by clicking here.