ArvinMeritor quarterly profit declines

Newswire

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, ...

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