May 1, 2006 1:00 PM, EDT

ArvinMeritor Reports Second-Quarter Income Gain

Click here to write a Letter to the Editor.

eavy-duty components maker ArvinMeritor said its second-quarter net income was $45 million or 64 cents a share, turning around a $33 million or 48 cents per-share loss a year earlier.

img src="/sites/default/files/images/articles/arvinmeritorlogo.gif" width=120 align=right>Revenue rose 2.5% to $2.31 billion for the fiscal quarter ended March 31.

Commercial vehicle income for the quarter was $64 million, while the light-vehicle unit narrowed its loss to $8 million from $36 million a year earlier.

The results marked the first back-to-back profitable quarters for the company in two years, Bloomberg said.

The company foresees heavy-duty truck business declining 30% next year, commercial vehicle systems unit president Tom Gosnell told analysts in a conference call, Bloomberg reported.

ArvinMeritor forecast third-quarter earnings from continuing operations of 60 to 70 cents per share on revenue of $2.4 billion.

For the year, it raised its earnings outlook to $1.60 to $1.70 per share, from its previous guidance of $1.50 to $1.70, on sales of about $8.8 billion.