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Meritor Earnings Climb 18%
Meritor Corp. posted a $20 million net profit in the fiscal second quarter ended March 31 compared with $17 million in the same period of 2011.
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Meritor Corp. posted a $20 million net profit in the fiscal second quarter ended March 31 compared with $17 million in the same period of 2011.
Revenue dipped 1% to $1.2 billion in the quarter. The company says lower sales in Europe and South America more than offset increases in North America.
Operating income grew 16% to $95 million. Meritor's operating margin widened to 8.2% from 7%. The company says its income gains were driven by greater efficiency at its European plants and improved pricing at its commercial truck business.
Meritor's cash outflow in the three-month period worsened to $69 million compared with $18 million a year earlier, largely because of lower sales in Europe.
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