Navistar Reports Higher Earnings
Navistar International Corp., parent company for International Truck and Engine, reported a 2.1% rise in earnings for the second quarter of its fiscal year.
For the first half of the fiscal year, Navistar’s net income rose 7%, reaching $168 million compared with $157 million in 1999. Earnings for each share went from $2.33 in 1999 to $2.68 in 2000. Sales in the first half rose from 8.1% to $4.55 billion from $4.21 billion.
The company attributed the increase to higher sales of vending and delivery trucks, more bus sales, as well as a double-digit percentage jump in engine shipments.
Net income for the second quarter of fiscal 2000 was $98 million, or $1.58 a share, compared with $96 million, or $1.42 a share a year ago. Sales rose 4.4% to $2.39 billion from $2.29
illion.
 |  |
For the full story, see the May 22 print edition of Transport Topics. Subscribe today.
