NEW YORK (TheStreet) -- Shares of Meritor Inc. (MTOR) are higher by 10.50% to $13.57 in mid-morning trading on Wednesday, after the company reported its adjusted net income from continuing operations for the 2014 fourth quarter increased to $35 million, or 35 cents per diluted share, from $13 million, or 13 cents per diluted share for the year ago period.
Analysts polled by Thomson Reuters were expecting EPS of 14 cents for the quarter.
The company, which is a worldwide supplier of a variety of integrated systems and compounds to original equipment manufacturers, said its revenue for the latest quarter grew by 3% to $933 million.
Analysts were expecting $919.71 million in revenue for the quarter.
Looking toward fiscal 2015, Meritor is expecting adjusted net earnings from continuing operations to be between $1.20 and $1.30 per share, exceeding the $1.01 per share analysts have forecast.
Separately, TheStreet Ratings team rates MERITOR INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate MERITOR INC (MTOR) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its solid stock price performance, compelling growth in net income and good cash flow from operations. However, as a counter to these strengths, we find that revenues have generally been declining."