CHICAGO, Sept 9 (Reuters) - Navistar International Corp on Wednesday reported a loss in line with expectations as a drop in military sales compounded the problems it was already experiencing in its core commercial truck market because of global economic problems.
But the company also lowered its guidance for the full-year, blaming -- among other things -- what it characterized as 'the worst truck market since 1962.'
Navistar reported a fiscal third-quarter loss of $12 million, or 16 cents a share, for the period ended July 31; during the comparable quarter last year, Navistar reported a profit of $331 million, or $4.47 a share.
Revenue fell 37 percent to $2.43 billion.
The results for the most recent quarter included a one-time gain of 33 cents a share.
Analysts, on average, expected the Warrenville, Illinois-based company to report a loss, before the extraordinary gain, of 49 cents a share on sales $2.67 billion, according to Reuters Estimates.
(Reporting by James B. Kelleher; editing by Gunna Dickson) Keywords: NAVISTAR/RESULTS (james.kelleher@thomsonreuters.com ; +1 312 408 8130; Reuters Messaging: james.kelleher.reuters.com@reuters.net ) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
But the company also lowered its guidance for the full-year, blaming -- among other things -- what it characterized as 'the worst truck market since 1962.'
Navistar reported a fiscal third-quarter loss of $12 million, or 16 cents a share, for the period ended July 31; during the comparable quarter last year, Navistar reported a profit of $331 million, or $4.47 a share.
Revenue fell 37 percent to $2.43 billion.
The results for the most recent quarter included a one-time gain of 33 cents a share.
Analysts, on average, expected the Warrenville, Illinois-based company to report a loss, before the extraordinary gain, of 49 cents a share on sales $2.67 billion, according to Reuters Estimates.
(Reporting by James B. Kelleher; editing by Gunna Dickson) Keywords: NAVISTAR/RESULTS (james.kelleher@thomsonreuters.com ; +1 312 408 8130; Reuters Messaging: james.kelleher.reuters.com@reuters.net ) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.