Meritor Inc. reported a profit for its fiscal first quarter on increased production in Europe and South America despite lower defense revenue, the truck component maker said Jan. 29.
The company reported a net income of $11 million, or 11 cents a share, compared with a loss of $16 million, or 17 cents, a year ago. Sales for the quarter ended Dec. 31 rose 2% to $907 million.
Meritor said its commercial truck and industrial unit’s earnings before interest, taxes, depreciation and amortization rose 56% to $53 million. Sales increased $12 million to $727 million.
The company reaffirmed its full fiscal-year guidance, projecting its revenue from continuing operations to be unchanged at about $3.7 billion.
Adjusted earnings per share for the year will be 30 to 40 cents, Meritor said.