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ArvinMeritor Inc announces Q3 2010 segment results
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Thursday, 05 Aug 2010
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Commercial Truck sales were USD 522 million, up by USD 225 million from the same period last year. EBITDA for the Commercial Truck segment was USD 25 million for the quarter, up by USD 45 million from the third quarter loss in fiscal year 2009, primarily driven by higher sales.

Sales for the company's Industrial segment were USD 257 million, up by USD 28 million from the third quarter of fiscal year 2009. EBITDA for the company's Industrial segment was USD 21 million, down by approximately USD 16 million from the same period last year. YoY EBITDA was negatively impacted by the completion of the MRAP military program last year, partially offset by higher sales in the segment's Asia Pacific businesses.

The Aftermarket & Trailer segment posted sales of USD 257 million, up by USD 26 million from the same period last year. EBITDA for Aftermarket & Trailer was USD 20 million, up by approximately USD 2 million from the third quarter of fiscal year 2009. This was a result of higher global sales, partially offset by a decrease in MRAP service parts which benefited the prior year.

Sales for the Light Vehicle Systems segment were USD 309 million, up from USD 259 million in the same period last year. EBITDA for LVS was USD 15 million, up by USD 21 million from the same period last year, due to incremental sales and results of cost cutting actions in the prior year.

Following a strategic evaluation of available options to divest the LVS business earlier this year, ArvinMeritor began a process for the sale of the business and is actively pursuing that strategy.

The company is reiterating its goal to complete the sale by the end of calendar year 2010. As the sales process has progressed and the financial performance of LVS has improved, ArvinMeritor no longer expects the sale to have a material effect on the company's cash flows at the time of closing.

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