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ArvinMeritor’s Fiscal Year Sales Up 11%

Published Tuesday, November 18, 2008

ArvinMeritor’s sales from continuing operations for fiscal year 2008 were $7.2 billion, up 11% compared to fiscal year 2007, due to strength in Europe and South America. This increase was 4% at constant exchange rates.  On a GAAP basis, net loss was $101 million, or a loss of $1.40 per diluted share, due to non-cash income tax charges of $183 million which the company incurred in the fourth quarter primarily to repatriate cash to the United States.  On a GAAP basis, loss per diluted share from continuing operations was $1.26 compared to $0.43 per diluted share ...

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