WARRENVILLE, Ill. -- Driven by continued advances in its core business, increased military sales and improvements in its cost structure, Navistar International Corp. has reported profitable results for the third quarter ended July 31.
 
“Third-quarter results showed a continuation of the company’s ability to be profitable in difficult economic conditions. Beyond strong military sales, we saw improved performance from our core businesses in truck, engine and particularly service parts,” said Daniel Ustian, Navistar chairman, president and CEO.

Even though the industry continues at a nearly 50-year low, net income attributable to Navistar International Corp. for the third quarter ended July 31 totaled $137 million, equal to $1.83 of diluted earnings per share. Revenues for the third quarter totaled $3.2 billion. Net loss for the third quarter a year ago was $12 million, equal to 16 cents of diluted net loss per share.

“All of our businesses continue to perform well,” said Ustian. “We are encouraged by the results of the third quarter and expect to deliver full year results toward the upper end of our earnings guidance. In addition, we are experiencing several successful product launches and are actively delivering 2010-compliant products to our customers.”

While the company is reducing revenue guidance, primarily as a result of deferring military revenue to fiscal 2011, the company says it has found other measures to stay within previously anticipated earnings guidance.

The company is reaffirming its guidance of $2.75 to $3.25 per diluted share on lower full-year revenue of $12 billion. The North American traditional industry demand is expected between 190,000 to 195,000 units for Navistar’s fiscal year ending Oct. 31, an increase of between 9 percent and 12 percent from fiscal 2009.