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.

Video of the Day

GovCon Wire Logo

Sign Up Now! GovCon Wire provides you with Daily Updates and News Briefings about Technology

The Ultimate Guide to Winning Government Contracts Let us show you how top executives are winning so you can replicate it