Navistar exceeds earlier fiscal estimates
Feb 17, 2005 8:51 AM, from staff and wire reports
Navistar International Corp, the combined commercial truck and mid-range diesel engine producer, reported that fourth quarter earnings totaled $159 million. Consolidated sales and revenues for the quarter rose to $3.1 billion from a restated $2.1 billion a year earlier.
In the fourth quarter a year ago, the company earned a restated $36 million, which included a benefit of $22 million from adjustment of restructuring charges.
The preliminary results were announced in December 2004. At that time, the company said earnings for the fourth quarter were expected to be at least $148 million. Earnings for the full year were expected to be to at least $236 million.
Earnings for the full fiscal year ended Oct 31, 2004, totaled $247 million, compared with a restated net loss of $21 million in fiscal 2003.
Sales and revenues for the year ended Oct 31, 2004, rose to $9.7 billion from a restated $7.6 billion a year earlier, marking the first time in the company’s history that sales and revenues topped $9 billion.
