ArvinMeritor 2008 Results Show Reduced Losses, Increased Sales
ArvinMeritor reports achieving sales of US$1.72 billion in the quarter ending September 30, an increase of 8 per cent on the corresponding quarter of 2007. Operating income during this, the company’s fourth quarter, is reported as $40 million, up from the previous year’s quarterly loss of $16 million. The vehicle systems and components manufacturer’s net loss, however, was substantially larger than in the fourth quarter of 2007, standing at $153 million, as opposed to $62 million.
For the full financial year to September 30, sales were $7.167 billion, up 11.1 per cent from the 2007 year. ArvinMeritor attributes this improved result to strength in Europe and South America. The company’s operating income of $186 million showed a 251 per cent improvement, and net loss, at $101 million, was far lower than in 2007, when a net loss of $219 million was recorded.
