Navistar Sees 4Q, Fiscal Year Profits

Navistar International Corp. said its fourth-quarter income jumped to $86 million, or $1.19 a share, compared with a loss of $343 million, or $4.81, a year ago, due to commercial truck and military sales.

Revenue dropped to $3.29 billion, from $3.87 million in 2008.

For the full fiscal year, Navistar saw profits of $320 million, or $4.46 per share, compared with $134 million, or $1.82, last year. Revenue for the year fell to $11.6 billion, from $14.7 billion the previous year.

The truck segment’s profit plunged to $147 million in the fiscal year ended Oct. 31, compared with $805 million in 2008. Navistar said that it increased its market share in Class 8 trucks during both the fourth quarter and the fiscal year.

Navistar’s engine segment saw its profit grow to $253 million in fiscal 2009, compared with a loss of $366 million in 2008.

The parts segment increased its profit 72% in the year to $436 million, compared with $254 million the prior year.

Financial services saw a profit of $40 million in fiscal 2009, compared with a loss of $24 million in 2008.