Navistar Files Statements for 2003-2005
Navistar International Corp. said Monday it had filed financial information statements for its 2003-2005 fiscal years with the Securities and Exchange Commission, reporting a profit for 2005 but losses for the two previous years.
The form 10K filing includes restated data for the fiscal years, “substantially consistent with the unaudited, preliminary financial data for the same three-year period released Oct. 25 in summary form,” Navistar said in a statement.
The parent company of International Truck and Engine Corp. reported net income of $139 million in 2005, and net losses of $44 million in 2004 and $333 million in 2003.
Sales and revenues increased nearly 60% during the three-year period, reaching $12.1 billion in 2005, up from $9.7 billion in 2004 and $7.7 billion in 2003. The company said it was “advancing toward its goal of $15 billion in sales and revenues by 2009.”
“We have both the liquidity and the lines of credit available to execute our growth strategies to capitalize on market opportunities,” said Daniel Ustian, the company’s chairman and chief executive officer.
Navistar also said its finance subsidiary, Navistar Financial Corp., received a waiver and consent from participants in its $1.42 billion credit agreement dated July 1, 2005.
