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TROY, Mich. - Auto supplier ArvinMeritor Inc. predicted second-quarter growth on Tuesday and affirmed its fiscal 2008 earnings guidance, citing operational improvements and cost reductions that offset difficult industry conditions.
| ARM | 3.43 |  -0.31 |
ArvinMeritor shares gained 80 cents, or 8.1 percent, to $10.67 in afternoon trading. The stock has traded between $9.08 and $23.65 during the past 52 weeks.
The company said it expects second-quarter results to be "significantly better" than the first quarter of 2008 and the second quarter of 2007, despite "overwhelming adverse market conditions in North America."
ArvinMeritor continues to expect 2008 earnings from continuing operations in the range of $1.40 to $1.60 per share, before special items.
Analysts surveyed by Thomson Financial, who generally exclude discontinued operations and one-time items, forecast full-year earnings of $1.29 per share.
ArvinMeritor will release its second-quarter results April 29.
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