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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. on Monday announced quarterly profit and revenue that exceeded analyst expectations.
The Indianapolis-based transmission manufacturer reported first-quarter sales of $633 million, a 33 percent increase over the first period of 2017.
Analysts surveyed by Zacks Investment Research had predicted revenue of $565.7 million.
Allison said the sales increase was driven by higher demand in the Global On-Highway, Service Parts, Support Equipment & Other, and Global Off-Highway end markets.
Profit in the quarter came in at $151 million, or $1.08 per share, compared with $83 million, or 52 cents per share.
The results beat Wall Street expectations. The average estimate of analysts surveyed by Zacks was for earnings of 79 cents per share.
Allison boosted full-year 2018 guidance to include a year-over-year net sales increase of 10 percent to 14 percent, to the range of $515 to $550 million.
Allison shares rose 4.6 percent in after-hours trading, to $40.80 each.
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