TROY, Mich., Sept. 23 /PRNewswire-FirstCall/ -- ArvinMeritor, Inc.
(NYSE: ARM) 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. ArvinMeritor common stock is traded on the New York Stock
Exchange under the ticker symbol ARM. For more information, visit the
company's Web site at: http://www.arvinmeritor.com/ .
Forward-Looking Statements
This press release contains statements relating to future results of the
company (including certain projections and business trends) that are
'forward-looking statements' as defined in the Private Securities Litigation
Reform Act of 1995. Forward-looking statements are typically identified by
words or phrases such as 'believe,' 'expect,' 'anticipate,' 'estimate,'
'should,' 'are likely to be,' 'will' and similar expressions.
