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TRUCKMAKERS NEWS * USA
* Illinois - Navistar Reports 4Q Loss on Tax, Restructuring Charges
Warrensville,ILL,USA -Transport Topics -19 Dec 2012: -- Navistar International Corp. reported a fourth-quarter loss on tax expenses and expenses related to a cost-reduction program and engine warranties. The truck and engine maker said Wednesday it lost $2.8 billion, or $40.13 per share, compared with a profit of $255 million, or $3.48, a year ago. Its pre-tax loss was $566 million, compared with a $275 million pre-tax profit in the same period last year. Revenue for the quarter ended Oct. 31 fell 24% to $3.3 billion, reflecting lower sales. The loss included $2 billion, or $28.59 per share, in tax costs, pre-tax charges of $149 million in warranty expenses related to 2010 big-bore engines, $73 million in cost-reduction actions, $16 million in restructuring charges for its North American manufacturing operations and engineering integration and $14 million in non-conformance penalties. Navistar said its net loss for fiscal year 2012 was $3 billion, or $43.56 per diluted share, compared with net income of $1.7 billion, or $22.64, for fiscal year 2011...
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