TROY, Mich., June 7 /PRNewswire-FirstCall/ -- ArvinMeritor, Inc.
(NYSE: ARM) today announced that it expects the company's earnings from
continuing operations for the third quarter of fiscal year 2005, ending June
30, to be at the higher end of the range forecasted in early May of $0.60 to
$0.70 per diluted share, before special items. In addition, the company now
expects its earnings for the full fiscal year to be at the higher end of the
previously forecasted range of $1.40 to $1.60 per diluted share, before
(Logo: http://www.newscom.com/cgi-bin/prnh/20010524/ARVINLOGO )
"Our strong performance during April and May has raised our expectations
for the third quarter, and we anticipate this improved performance will lead
to higher earnings for the full fiscal year as well," said Chairman, CEO and
President Charles G. "Chip" McClure. "Our improved operating performance and
record sales from our Commercial Vehicle Systems group are the main
contributors driving our stronger outlook. Prior guidance on our cash flow
remains unchanged due to increased working capital associated with higher
volumes. We're also beginning to see returns from the aggressive reductions
we have made in our cost structure."
The sale of the North American Light Vehicle Aftermarket business is also
on track, according to McClure, and is to be completed in the second half of
the fiscal year.
"While these positive performance indicators are encouraging, we continue
to address the ongoing challenges that impact our industry, including higher
steel prices, global competition and pricing pressures from our customers,"
said McClure. "We remain committed to further improving our performance in
each of our core businesses and continuing to enhance value for our
The company plans to release its third-quarter results on July 28.
ArvinMeritor, Inc. is a premier $8 billion global supplier of a broad
range of integrated systems, modules and components to the motor vehicle
industry. The company serves light vehicle, commercial truck, trailer and
specialty original equipment manufacturers and related aftermarkets.
Headquartered in Troy, Mich., ArvinMeritor employs approximately 31,000 people
at more than 120 manufacturing facilities in 25 countries. ArvinMeritor
common stock is traded on the New York Stock Exchange under the ticker symbol
ARM. For more information, visit the company's Web site at:
This press release contains statements relating to future results of the
company (including certain projections and business trends) that are "forward-
looking statements" as defined in the Private Securities Litigation Reform Act
of 1995. Actual results may differ materially from those projected as a
result of certain risks and uncertainties, including, but not limited to,
global economic and market conditions; the demand for commercial, specialty
and light vehicles for which the company supplies products; risks inherent in
operating abroad (including foreign currency exchange rates and potential
disruption of production and supply due to terrorist attacks or acts of
aggression); availability and cost of raw materials, including steel; OEM
program delays; demand for and market acceptance of new and existing products;
successful development of new products; reliance on major OEM customers; labor
relations of the company, its customers and suppliers; the financial condition
of the company's suppliers and customers, including potential bankruptcies;
successful integration of acquired or merged businesses; the ability to
achieve the expected annual savings and synergies from past and future
business combinations; success and timing of potential divestitures; potential
impairment of long-lived assets, including goodwill; competitive product and
pricing pressures; the amount of the company's debt; the ability of the
company to access capital markets; credit ratings of the company's debt; the
outcome of existing and any future legal proceedings, including any litigation
with respect to environmental or asbestos-related matters; as well as other
risks and uncertainties, including, but not limited to, those detailed from
time to time in the filings of the company with the Securities and Exchange
SOURCE ArvinMeritor, Inc.
Media Inquiries: Lin Cummins, +1-248-435-7112, firstname.lastname@example.org
Krista McClure, +1-248-435-7115, email@example.com
both of ArvinMeritor, Inc.