Navistar International Corp., the No. 3 U.S. truckmaker, posted a fiscal fourth-quarter profit today compared with a loss a year ago.
Because of an improvement in truck sales, net income in the quarter ended Oct. 31 was $77 million, or $1 a share, compared with a net loss of $460 million, or $7.58 a share, a year earlier.
Although the company's marked its second consecutive quarter of profitable operations, it was not enough to put the company in the black for its full fiscal year ended October 31, 2003. Daniel C. Ustian, Navistar president and chief executive officer, said the truck industry recovery is slower than originally forecast.