ArvinMeritor Reports Fiscal 2Q Profit

Trucking components maker ArvinMeritor Inc. reported its first profit in five quarters Tuesday, saying it earned $20 million, or 28 cents a share, compared with a net loss of $94 million, or $1.34, last year.

Sales for the fiscal quarter ended March 31 rose 9.5% to $1.78 billion, the company said in a statement. It reaffirmed its income from operations forecast of $1.40 to $1.60 per share for the full fiscal year.

ArvinMeritor said last month that its second-quarter earnings would be “significantly better” than last year’s.

Efforts to reduce costs by eliminating jobs and cutting production will save the company it about $32 million annually, Bloomberg reported. It expects $75 million in savings from these efforts for the full fiscal year.

The company said its calendar-year forecast for North American Class 8 truck production was 220,000 to 240,000 units, down slightly from a previous 235,000 to 255,000 forecast.