Meritor recently announced its financial report for the first quarter (October 1, 2011 to December 31, 2011) of its fiscal year 2012 (October 1, 2011 to September 30, 2012).
In the first quarter of fiscal 2012, Meritor’s sales were US$1,159 million, a year-on-year increase of 21%; operating losses were US$13 million (loss of US$0.13 per share), and operating losses in the first quarter of fiscal year 2011 were US$6 million (per Loss of 0.07 US dollars).
Meritor's operating loss in the first quarter of fiscal 2012 was mainly due to the restructuring costs ($24 million) of its sale of a French factory, which increased its operating profit to US$11 million (US$0.12 per share).
For the entire fiscal year 2012, Meritor expects sales of $4.8 billion; adjusted operating profit will be $105 million to $135 million.
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