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CHICAGO, April 23 (Reuters) - Automotive parts supplier ArvinMeritor Inc. said on Friday its quarterly earnings rose, on stronger demand for commercial truck parts in North America and a gain from the sale of a joint venture stake.
The maker of axles, brakes, and exhaust and suspension systems said its fiscal second-quarter net income rose to $41 million, or 59 cents a share, from $24 million, or 36 cents a share, a year ago.
Results in the latest quarter, ended March 31, included a gain of 23 cents from the sale of the company's 75 percent stake in a Spanish joint venture, and a charge of 8 cents to clean up a former plant sold in 1985.
In January, ArvinMeritor had forecast a second-quarter profit of 40 cents to 45 cents a share, excluding items.
Analysts on average had expected earnings of 42 cents a share, according to Reuters Research, a unit of Reuters Group Plc.
Troy, Michigan-based ArvinMeritor said sales rose 13 percent to $2.25 billion from $1.99 billion. Excluding the impact of the weaker dollar, sales would have risen about 6 percent, the company said.
The company confirmed its full-year 2004 earnings outlook of $2.20 to $2.40 a share.