BUSINESS NEWS
27 Jun 08. Paving the way to relisting on the New York Stock Exchange, Navistar International Corporation (Other OTC: NAVZ) today filed first and second quarter 2008 form 10-Qs with the Securities and Exchange Commission. “We’re happy to be caught up with our financial reporting. We will keep our focus on delivering on our commitments to shareholders,” said Daniel C. Ustian, Navistar chairman, president and chief executive officer. “In one of the weakest commercial truck markets in recent history, we are set to surpass our $15bn revenue goal for 2009 a year early and to realize nearly $1bn in manufacturing segment profit.” The company reported net sales and revenue of $6.9 billion for the first half of fiscal 2008, a 13 percent increase over the same period in 2007. Manufacturing segment profit was $424m, doubling 2007 performance of $208m. Net income was $162m, or $2.22 per diluted share, an improvement of $175 million or $2.41 per diluted share over the first half of fiscal 2007. “We look forward to our return to a premier exchange so that we can offer shareholders the best venue for optimal liquidity,” Ustian said. Navistar common stock will resume trading June 30 on the New York Stock Exchange under its original ticker symbol NAV; Navistar preferred stock will trade under NAVPrD.