Indianapolis-based Allison Transmission Holdings Inc. announced net sales for the first quarter of the year of $637 million, a 6 percent decrease from the same period in 2019. The company says the decrease was principally driven by lower demand in the North America on-highway and outside North America on-highway end markets, partially offset by higher demand in the defense and service parts, support equipment and other end markets.
Net Income for the quarter was $139 million compared to $167 million for the same period in 2019.
The COVID-19 pandemic’s effect was felt in the quarter, says the company’s CEO.
“I would like to thank all of Allison’s employees, customers and suppliers for their dedication and resilience during this unprecedented time,” said David S. Graziosi, president and CEO. “The health and well-being of Allison’s extended family has always been our top priority and we will continue to take the actions necessary to ensure the safety of our people and our communities.”
