Allison Transmission Holdings Q2 Profit Plunges

(RTTNews) - Allison Transmission Holdings Inc. (ALSN) Monday reported second-quarter net income of $50.5 million or $0.26 per share, compared to $412.8 million or $2.21 per share in the same period last year.

On average, nine analysts polled by Thomson Reuters expected the company to earn $0.25 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenues were $512.10 million, down 8 percent from $559.40 million last year, while nine analysts expected revenues of $502.76 million.

The company said it expects to achieve these levels on revised net sales for full year 2013 in the range of $1.92 billion to $1.96 billion. Analysts currently expect full year 2013 sales of $1.98 billion.