ArvinMeritor’s Fiscal Third-Quarter Income Declines

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eavy-duty components maker ArvinMeritor said Monday its fiscal third-quarter profit fell to $20 million or 29 cents a share, from $46 million or 66 cents a year earlier.

img src="/sites/default/files/images/articles/arvinmeritorlogo.gif" width=120 align=right>Sales for the quarter rose 4% to a record $2.5 billion for the quarter ended June 30.

ArvinMeritor boosted its full-year earnings guidance and said it expects its income from operations, excluding special items, to be $1.65 to $1.75 a share, from its previous $1.60 to $1.70 range.

“Sales for fiscal year 2006 will remain strong, specifically within the North America Class 8 truck market, and we are forecasting full- year sales to be approximately $9 billion,” Chairman and Chief Executive Officer Chip McClure said.

The company cited a work stoppage during the quarter in Ontario, Canada, as part of the reason for the profit decline. (Click here for previous coverage.)

Operating income was $47 million, down 49% from a year earlier, due primarily to the labor dispute, the company said.