Corporate

TROY, Mich., Aug. 1 /PRNewswire-FirstCall/ -- ArvinMeritor's (NYSE:ARM) Commercial Vehicle Systems (CVS) business has announced the appointment of Amelia Quelas as vice president and general manager of the Trailers Group, effective August 1.

Quelas is responsible for the leadership and growth of the worldwide commercial trailer business. She will lead business process improvement initiatives designed to strengthen the performance of the trailer business, develop strategic plans, drive market growth initiatives, and manage customer relationships.

Garmin Announces Increased Dividend, Raises Guidance

CAYMAN ISLANDS, Aug. 1 /PRNewswire-FirstCall/ -- Garmin Ltd. (NASDAQ:GRMN) today announced a record quarter ended June 30, 2007.

LIVONIA, Mich., Aug. 1 /PRNewswire-FirstCall/ -- TRW Automotive Holdings Corp. (NYSE:TRW) , the global leader in active and passive safety systems, today reported second-quarter 2007 financial results with sales of $3.8 billion, an increase of 8.5 percent compared to the same period a year ago. The Company reported second quarter net earnings of $97 million or $0.94 per diluted share, which compares to net earnings of $91 million or $0.88 per diluted share in the prior year period.

During the second quarter, the Company completed the final step of its 2007 debt recapitalization plan with the successful refinancing of its $2.5 billion credit facilities in May. The debt recapitalization provides a new debt structure that lowers the Company's borrowing costs, improves financial flexibility and extends debt maturities. The second quarter results included $8 million of costs related primarily to the refinancing of the Company's credit facilities. Net earnings in the 2007 quarter excluding these charges were $105 million or $1.02 per diluted share. The current year benefited primarily from a lower tax rate between the two periods and a higher level of operating income.

Quarter Highlights:

- EBIT-R of $15 million - net loss of $67 million
- Cash from operations of $146 million
- Cash balances of $1.5 billion
- Continued progress on restructuring
- Customer diversification continues; significant new business wins
- Affirms previous guidance for full year 2007

VAN BUREN TOWNSHIP, Mich., Aug. 1, 2007 /PRNewswire-FirstCall/ -- Visteon Corporation (NYSE:VC) today announced second quarter 2007 results. For the second quarter 2007, Visteon reported a net loss of $67 million or $0.52 per share, which included non-cash asset impairments of $13 million. Second quarter EBIT-R, as defined below, was $15 million. Sales from continuing operations for the quarter were $2.97 billion, including product sales of $2.83 billion and services revenues of $141 million. During the quarter, Visteon generated $146 million of cash from operating activities and free cash flow, as defined below, of $66 million.

"At the mid-point of our three-year improvement plan, we have demonstrated progress across each pillar of the plan," said Michael F. Johnston, chairman and chief executive officer. "More than half of the restructuring actions are complete, and several others are well on their way to completion. Even with significant reductions in customer volumes in North America, we are making solid progress on improving our base operations through improved quality and safety and significantly reduced administrative costs. We are also diversifying our sales and growing the business, particularly outside of North America."

- WABCO trades under symbol NYSE: WBC
- WABCO directors declare quarterly dividend of 7 cents per share and authorize $500 million stock repurchase program

NEW YORK and BRUSSELS, Belgium, Aug. 1 /PRNewswire-FirstCall/ -- WABCO (NYSE:WBC) , a leading global provider of electronic braking, stability, suspension and transmission control systems for commercial vehicles, will make its debut on the New York Stock Exchange today, trading under the symbol WBC.

WABCO, with revenues of approximately $2 billion in 2006, previously operated as the Vehicle Control Systems business of American Standard Companies (NYSE:ASD) . On February 1, 2007, American Standard announced plans to spin off the business, and completed the separation yesterday, exactly six months later. WABCO was originally part of the Westinghouse Air Brake Company founded in 1869 and was acquired by American Standard in 1968.

SAN DIEGO, July 30 /PRNewswire-FirstCall/ -- Solera Holdings, Inc. (NYSE:SLH) , a leading global provider of software and services to the automobile insurance claims processing industry, today announced that it will release its fourth quarter and fiscal year 2007 financial results after the market close on September 6, 2007. A conference call will be hosted by Tony Aquila, chairman and chief executive officer, and Jack Pearlstein, chief financial officer, at 4:30 pm (Eastern Time) that afternoon.

TROY, Mich., July 30 /PRNewswire-FirstCall/ -- ArvinMeritor, Inc. (NYSE:ARM) today reported financial results for its third quarter ended June 30, 2007.

Third-Quarter Fiscal Year 2007 Highlights
- Sales from continuing operations of $1.7 billion - 4 percent lower than the same period last year.
- Net loss from continuing operations on a GAAP basis was $4 million, or $0.06 per diluted share, reflecting the impact of ongoing restructuring programs.
- Diluted earnings per share of $0.25 from continuing operations, before special items.
- Continued year-over-year margin improvement in Light Vehicle Systems (LVS) business.
- Commercial Vehicle Systems (CVS) profitable in the trough of the North American Class 8 downturn.
- Performance Plus on track to achieve targets.
- Fiscal year 2007 diluted earnings per share guidance, before special items, revised to $0.75 to $0.80 from the previous range of $0.70 to $0.80.
- Free cash flow guidance reduced to a range of $50 million to $100 million outflow, compared to the previous guidance of $50 million to $100 million inflow.

TROY, Mich., July 27 /PRNewswire-FirstCall/ -- The ArvinMeritor, Inc. (NYSE:ARM) Board of Directors, at a meeting held on July 27, 2007 at its corporate headquarters in Troy, Mich., declared a quarterly dividend of 10 cents ($0.10) per share on the common stock of ArvinMeritor, payable Sept. 10, 2007, to holders of record at the close of business on Aug. 20, 2007.

NEWTON, N.C., July 27 /PRNewswire-FirstCall/ -- Dale Jarrett Racing Adventure, Inc. (BULLETIN BOARD: DJRT) a "Full Throttle" lifetime experience company, has announced today that four out of the company's last five quarters have been profitable.

"With profitability comes the opportunity to upgrade the show itself. Over the last few months we have added new suits, helmets, HANS safety devices, timing equipment, new trailers, a new road tractor and a new state of the art DVD product, all of which elevate the experience for our guests" said Tim Shannon, President and CEO.

American Axle & Manufacturing Announces $400 million increase in 2008 - 2012 new business backlog

DETROIT, July 27 /PRNewswire-FirstCall/ -- American Axle & Manufacturing Holdings, Inc. (AAM), which is traded as AXL on the NYSE, today reported sales and earnings for the second quarter of 2007.

Second Quarter 2007 highlights:

-- Second quarter sales of $916.5 million
-- 3% year-over-year decline in total production volumes as compared to the second quarter of 2006
-- Content-per-vehicle of $1,318, approximately 8% higher than the prior year
-- Gross profit of $113.1 million, or 12.3% of sales
-- Operating income of $58.9 million, or 6.4% of sales
-- Net earnings of $34.0 million or $0.64 per share
-- Net cash provided by operating activities of $224.8 million
-- Increased 2008 - 2012 new business backlog to approximately $1.2 billion