Car parts maker ArvinMeritor saw profit for its latest quarter surge 71% on increased sales and a gain from the sale of its stake in a ride-control products venture.
But wire service reports said the company indicated that profit for its current quarter will fail to match Wall Street estimates.
The latest results included a gain of 23 cents a share on the sale of its 75% interest in the AP Amortiguadores SA joint venture and a charge of 8 cents a share from a deal with the Environmental Protection Agency to clean up a former Rockwell facility sold in 1985. Excluding those items, earnings were 44 cents a share.
Analysts surveyed by Thomson First Call reportedly had projected second-quarter earnings, excluding items, of 42 cents a share.
Sales in the latest quarter rose to $US2.25 billion from $2 billion and, for its fiscal third quarter, ArvinMeritor expects earnings of 70 cents to 75 cents a share on sales of $2.3 billion.
The projection is below the 88 cents a share on sales of $2.36 billion predicted by analysts.
A year ago, ArvinMeritor earned $47 million, or 69 cents a share, on sales of $2.11 billion in the third quarter. The results included a $5 million pretax restructuring charge.
ArvinMeritor had sales of $7.79 billion for the year ended Sept. 30.
