ArvinMeritor posts earnings

DETROIT - ArvinMeritor Inc. posted sales of $6.8 billion and earnings of $35 million for its fiscal year that ended Sept. 30. The supplier's annual sales were down 12 percent from the previous fiscal year; earnings were down 88 percent.

ArvinMeritor's sales for the fourth quarter that ended Sept. 30 were $1.6 billion, down 7 percent from the year-ago period.

The supplier posted a $6 million net loss for the quarter. That compares with $29 million in earnings for the same quarter in the previous fiscal year.

Continued weakness in the commercial and light-vehicle markets is expected to drive the company's fiscal year 2002 consolidated sales down 4 percent below 2001 fiscal-year sales, says Larry Yost, ArvinMeritor's chairman.

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