[Stay on top of transportation news: .]
ArvinMeritor Posts 2Q Profit
Truck and auto components maker ArvinMeritor Inc. said Tuesday it posted a second-quarter profit on cost cuts and higher auto production.
Its profit for the fiscal quarter was $13 million, or 16 cents per share, compared with a loss of $49 million, or 67 cents, a year ago.
Net income from continuing operations was $16 million, or 20 cents per share, compared with a loss of $48 million, or 66 cents, a year ago.
Sales for the quarter ended March 31 rose 25% to $1.2 billion, the company said.
Commercial truck sales rose to $458 million, from $349 million, while earnings before interest and taxes for the segment was $15 million, compared with a $28 million loss a year ago.
The aftermarket and trailer segment鈥檚 sales fell $12 million to $238 million, while earnings before interest and taxes was $17 million, down about $19 million, due primarily to a decrease in certain military programs.
Light vehicle systems sales rose to $339 million, from $224 million, while earnings before interest and taxes were $8 million, compared with a $17 million loss a year ago.
ArvinMeritor said it expects its third fiscal quarter revenue and adjusted earnings before taxes to be flat from the second quarter.
听