Navistar Reports First-Quarter Loss

Warrenville, Ill. – Navistar International Corp., producer of International brand trucks and diesel engines, has reported a first-quarter loss and has forecasted a second-quarter loss. Company leaders say they expect the company to be marginally profitable for the full year. The loss from continuing operations for the quarter ended Jan. 31, 2003, totaled $98 million, or $1.47 per diluted common share, compared with a loss of $53 million, or 88 cents per diluted common share, in the first quarter one year ago.

The net loss for the quarter, including discontinued operations, amounted to $99 million, or $1.49 per diluted common share. Consolidated sales and revenues from the company’s manufacturing and financial services operations for the first quarter totaled $1.6 billion, compared with $1.5 billion the first quarter of 2002.