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ArvinMeritor quarterly profit declines

CHICAGO, April 23 (Reuters) - Auto parts maker ArvinMeritor Inc. on Wednesday said its quarterly profit fell, hurt by weak demand, higher steel costs and pricing pressures.

ArvinMeritor, whose products include suspension systems and replacement parts, said it earned $24 million, or 36 cents a share, in its fiscal second quarter ended March 31. That's down from $35 million, or 52 cents a share, in the same period a year ago.

Analysts had expected 34 cents a share in the latest quarter, with estimates ranging from 33 cents to 36 cents, according to Thomson First Call.

In March, Troy, Michigan-based ArvinMeritor cut its second-quarter profit forecast for a second time to 33 cents to 36 cents per share.

Sales rose 18 percent to $1.99 billion, boosted by an acquisition and the stronger euro.