Navistar on Wednesday December, 22 2010 reported that company has experienced profitable fourth quarter the sales are improved; major performance comes from military sales and its core business.
Forth quarter ended on October 31, 2010.
The results also included approval of UAW contract which gives the company ability to cost effective structure for production and also makes further improvements on basics.
Monaco RV LLC reported revenues of $3.37 billion for the fourth quarter; the figures were $3.29 billion in last years fourth quarter.
Navistar International Corp. reported total sales of $39 million which equals to 54 cents per share.
The breakup includes $10 million that is equal to 14 cents/share coming from layoff costs and separation which relates to 4 year contract with UAW. Navistar experienced Net income of $86 million in the forth quarter year ago that equaled to $1.19 net income/share.
Navistar chairman Daniel C Ustian states that the truck market is in depressed condition for last three years, but Navistar has been able to make good profits and transfer the profits to its share holders.Navistar has strategically invested in future growth.
The company is in right position to take the advantage of expanding global market.
Navistar expects investment in company’s global operation so that they can deliver better profits by 2011 and also look further in providing strong returns in 2012 and 2013.
Navistar has already invested $55 million plus for global expansion plan in the year 2010.
Earlier in this year Navistar had communicated that it would be delivering 17,000 plus emission yielding vehicles in the markets of Canada and United States.
In previous month Navistar won the contract to supply 250 International MaxxPro Mine Recovery Vehicles. An additional order of 175 International MaxxPro Dash Vehicles is also lined up. The report also states that the company will be submitting 15 liter engines for regulatory certification that are used in 2010 MaxForce.