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Navistar’s FY11 Profit Jumps 80% Over FY10; Manufacturing Cash at $1.2B

Navistar International Corp. (NYSE: NAV) has released its financial results for the fourth quarter of its 2011 fiscal year ended Oct. 31, 2011.

The company reported $247 million in quarterly adjusted net income, or $3.37 diluted earnings per share. In the prior year period, the company reported net income of $44 million, or $0.61 diluted earnings per share.

The company also noted its adjusted fiscal year 2011 net income was $402 million, a more than 80 percent increase over its fiscal 2010 result of $223 million.

Navistar said it ended the year with a manufacturing cash balance of $1.2 billion and repurchased 2.7 million shares of its stock in the fourth quarter.

Navistar plans to complete a $175 million stock repurchase program in early 2012.

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