23rd
September 2008 -
ArvinMeritor Raises Its Third-Quarter Forecast
ArvinMeritor, Inc. announced today that it is raising its forecast for
diluted earnings per share from continuing operations, before special
items, to be in the range of $1.55 to $1.65, up from the top end of the
previous range of $1.40 to $1.60, forecasted in the company's
third-quarter earnings report.
Chip McClure, chairman, CEO and president, said, "Although we continue
to operate in an uncertain economic environment, the ArvinMeritor team
has executed well this year. We are pleased that we are able to improve
our outlook for fiscal year 2008 despite weaker market conditions in
North America and Europe."
ArvinMeritor also expects improved cash flow performance compared to its
previous guidance. In the third quarter, the company forecasted free
cash flow for fiscal year 2008 to be in the range of negative $50
million to negative $100 million.
ArvinMeritor will release its fourth-quarter and fiscal year 2008
results on Nov. 18, 2008, at 9 a.m. Eastern Time.
About ArvinMeritor
ArvinMeritor, Inc. is a premier global supplier of a broad range of
integrated systems, modules and components to the motor vehicle
industry. The company serves commercial truck, trailer and specialty
original equipment manufacturers and certain aftermarkets, and light
vehicle manufacturers. Headquartered in Troy, Mich., ArvinMeritor
employs approximately 18,000 people in 24 countries.
Source: ArvinMeritor Press Release