Meritor second fiscal quarter sales were US$1.2bn, up 37% year on year. Net income was $17m versus $13m and EBITDA was $81m, up 33%.

“Continued improvement of commercial truck sales in all regions drove a 33% increase in adjusted EBITDA year-over-year,” said chairman, CEO and president Chip McClure. “While our team worked hard this quarter to capitalise on significantly higher volumes, rising steel costs, as well as launch costs related to the Caiman defence programme, impacted our ability to fully benefit from increased revenue this quarter.”

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The increase in sales was primarily due to stronger truck demand in the Americas and Europe.

For the third quarter of fiscal 2011, the company anticipates revenue in the range of $1,300 to $1,375m, adjusted EBITDA in the range of $100 to $110m and adjusted income from continuing operations in the range of $20 to $30m.

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