CHICAGO, Sept 30 (Reuters) - Auto parts maker ArvinMeritor Inc.. said on Tuesday its fiscal fourth-quarter earnings will be affected by higher than expected costs for new product launches and steel-related interruptions in its Light Vehicle Systems business.
It said it expects earnings for the fiscal fourth-quarter ending Sept. 30 of 48 cents to 51 cents a share, before the effects of a change in accounting principle.
The company said its outlook includes a net fourth-quarter after-tax gain of $13 million, or 19 cents a share, from an asset sale, as well as $5 million, or 7 cents a share, of expenses from a previously announced restructuring in the Light Vehicle Systems business.
For the first quarter of fiscal 2004, ArvinMeritor estimated sales of $2.0 billion and earnings of 25 cents to 30 cents a share. For fiscal 2004, it forecast earnings at $2.20 to $2.40 a share.