The commercial truck and engine maker, Navistar International Corp. rose to fiscal fourth-quarter profit. This profit was a gift of fewer charges and increase in truck sales.
The truck makers were in the worst condition since 1960s. The industry-wide retail sales of medium and heavy-duty trucks next year will remain at low levels, ranging from 175,000 to 215,000 trucks as predicted by Navistar.
Fiscal fourth quarter net profit of Navistar is $86 million, or $1.19 a share. A net loss was in books of the company for the same quarter last year, of $343 million, or $4.81 a share.
According to the company, fourth quarter sales rose higher as compared to last year as customers purchased more trucks to avoid being hit with higher prices next year, which might be a result of cost involved in complying with stricter pollution standards on diesel exhaust.
The real recovery is not expected as early as 2011 because of the recession and credit crunch which hit markets last year.
The stock is up with about two-thirds but the shares of the company fell to $35.18, 0.9%.












