ArvinMeritor, the automotive parts supplier trying to acquire larger rival Dana Corporation, on Monday said its quarterly earnings fell as lower North American vehicle production hurt sales, Reuters reported.
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According to Reuters, Troy, Michigan-based ArvinMeritor, whose products include truck axles, brakes and transmissions and vehicle exhaust and suspension systems, said fiscal third-quarter net income fell to $US47 million, or 69 cents a share, from $62 million, or 91 cents a share, a year earlier, while revenue rose to $2.1 billion from $1.88 billion.
Analysts’ average earnings estimate was 66 cents a share, in a range of 55 cents to 72 cents, according to Reuters Research, a unit of Reuters Group Plc.
