In January 2013, Meritor announced the financial report for the first quarter of fiscal year 2013 (October 2012 to September 2013) in the official website. The company’s fiscal first quarter was still at a loss and its sales were the same as last year’s fiscal year. Compared with the same period of the year, there has been a sharp decline. Meritor’s first-quarter sales fell 23% year-on-year to US$891 million; net losses in the first quarter reached US$21 million, compared to a net loss of US$22 million in the same period of the previous fiscal year. Merrill’s operating cash flow for the first quarter of the fiscal year was negatively US$91 million, and its operating cash flow in the first quarter of fiscal 2012 was US$5 million; Meritor’s first-quarter free cash flow was US$106 million in 2012 fiscal year Free cash flow during the same period was negative $20 million. Among Meritor's business units, Meritor's commercial trucks and the Ministry of Industry achieved sales of US$715 million in the first fiscal quarter, down 26.7% year-on-year; EBITDA of the division was US$34 million, a steep decline of 44.3% year-on-year; The rate of profit before depreciation and amortization slipped to 4.8% from 6.3% in the same period of the previous financial year. Meritor's aftermarket and trailer business division's fiscal first-quarter sales fell 6.9% year-on-year to US$203 million. The decline was mainly due to a decline in sales in North America; EBITDA declined by 24% year-on-year to US$13 million; The rate of profit before depreciation and amortization slipped from 7.8% in the first quarter of the previous fiscal year to 6.4%. Meritor also forecasted the business for the entire fiscal year 2013. The company’s operating income for the fiscal year is expected to reach US$3.8 billion, the adjusted EBITDA will reach nearly 7%, and the capital expenditure will be at 6,500. Between $7,500 million. Thrust Ball Bearings,Tata Bearing,Ball Bearings Bearing Co., Ltd. , http://www.china-bearing-directory.com
Market downturn Merrill sales fell 23% year-on-year in the fiscal year