Meritor Q4 Adj. EPS Beats View - Quick Facts

(RTTNews) - Meritor, Inc. (MTOR) reported a surge in fourth-quarter GAAP net income from continuing operations to $37 million or $0.38 per share, from $4 million or $0.04 per share last year, helped by the gain on the sale of the company's 50 percent stake in Suspensys Sistemas Automotivos Ltda., partially offset by a non-cash pension settlement loss associated with pension buy-outs of term-vested participants in the company's U.S. defined benefit pension plan.

On an adjusted basis, quarterly income from continuing operations stood at $11 million, or $0.11 per share. On average, 12 analysts polled by Thomson Reuters expected earnings per share of $0.09 for the quarter. Analysts' estimates typically exclude one-time items.

For the fourth quarter of fiscal 2013, Meritor generated sales of $909 million, down 8 percent from $986 million in the prior year, due mainly to lower military sales. Furthermore, revenue was unfavorably impacted by geographic mix as stronger sales in Europe and South America did not fully offset lower revenues in North America, India and China. Analysts estimated revenues of $940.62 million for the quarter.