For the quarter ended Dec. 28, ArvinMeritor posted a loss of $991 million, or $13.71 per share, compared with a loss of $12 million, or 17 cents per share, for the same quarter in 2008. The latest results included non-cash charges totaling $944 million related to valuation reserves for certain deferred tax assets and other asset impairments. Excluding those items, the company posted an adjusted loss from continuing operations of $56 million, or 77 cents per share, compared with an adjusted profit from continuing operations of $6 million, or 8 cents per share, in the same period last year. Sales dropped 18 percent to $1.37 billion from $1.66 billion in the year-ago period. The adjusted loss was still significantly larger than Wall Street expected. Analysts polled by Thomson Reuters expected a loss of 6 cents per share on $1.14 billion in sales. The estimates typically exclude one-time items. The company said it has taken a number of actions in order to offset the continued downturn in the auto industry including the elimination of 1,500 jobs, extended shutdowns and reduced work weeks at all plants, salary reductions for executives and the suspension of its quarterly dividend. Its shares fell 15 cents, or 8.3 percent, to $1.66 in morning trading after sinking to a 52-week low of $1.63 earlier in the session.