WARRENVILLE, Ill. -- Navistar International has reported financial results for its fiscal first quarter, ended Jan. 31. Net income attributable to Navistar International for the first quarter was $17 million, equal to 23 cents of diluted earnings per share in the face of lower revenues due in part to lower first-quarter military revenues. The first-quarter results reflect improved commercial performance and efforts to control costs over manufacturing expenses while the company continued its investments in the development of its 2010-emissions compliant engines.

“First quarter results reflect the progress we are making in the toughest of economic conditions and in a normally difficult seasonal quarter for our company due to fewer operating days,” said Daniel Ustian, Navistar’s chairman, president and chief executive officer. “And we were able to deliver those results while investing in the future. The last half of 2010 will provide opportunities for even better margins as we launch our 2010 EGR (exhaust gas recirculation) strategies.

“And as we move forward in 2010, we will continue to drive further cost improvements and are confident that the strategies we have put in place will help us achieve our goal for revenue and profitability, with $20 billion in revenue and $1.8 billion in manufacturing segment profit, when the market fully recovers,” Ustian added.

Navistar achieved a number of milestones, which comprise key building blocks for the future of the business. The company launched its first commercial trucks for the Indian market with joint venture partner Mahindra & Mahindra Ltd. (M&M). In December, Navistar also completed its acquisition of the concrete mixer manufacturing business of Continental Mfg. Co. Inc. In addition, the company saw its order share for its bus and Class 6-8 products grow to 51 percent for the first four months of the fiscal year. The company believes these initiatives and expansions will be key contributors to its future success.

“Our EGR message is resonating with the marketplace as evidenced by our continued strong market share levels,” said Ustian. “The breadth, depth and value of our product family is now being enhanced by an EGR solution that is gaining acceptance with the marketplace.”

The company anticipates that total truck industry retail sales volume for Class 6-8 trucks and school buses in the United States and Canada for the year ending Oct. 31, will be in the range of 195,000 to 215,000 units. As previously reported, net income attributable to Navistar International Corp. for the fiscal year ending Oct. 31, should be in the range of $127 million, or $1.75 per diluted share, and $163 million, or $2.25 per diluted share. Future guidance will be re-evaluated pending scheduled finalization of the military’s capability insertion.