John Sommers II for TT
Meritor Inc. posted a profit for its fiscal second-quarter compared with a loss a year ago as sales rose, the company reported May 1.
The Troy, Michigan, component maker earned $1 million, or 1 cent per share, compared with a loss of $4 million, or 4 cents, a year ago.
Sales for the quarter ended March 31 increased 6% to $962 million.
Adjusted income from continuing operations was $21 million, or 22 cents a share, compared with $6 million, or 6 cents, a year ago.
Meritor Chairman and CEO and Ike Evans, who was named to his post in August, projected a higher outlook going forward.
“With our strong execution in the first half of the fiscal year and the anticipated strength in the North American market for Class 8 trucks, we’ve raised our full-year guidance for revenue, adjusted [earnings] and adjusted earnings per share,” Evans said in a statement.