Navistar Q2 Net Sales and Revenues Surge
The increase in second-quarter revenues was mainly due to higher commercial volumes, favorable pricing due to the use of 2010 emissions-compliant engines and increased military revenue associated with mine resistant ambush protected vehicle deliveries.
Costs of products sold were $2.7 billion for the second quarter of 2011, compared to $2.18 billion for the same period of 2010. Total costs and expenses were $3.24 billion for the second quarter of 2011, compared to $2.68 billion for the same period of 2010.
For six months ended April 30, 2011, net sales and revenues were $6.09 billion, compared to $5.55 billion for the same period of 2010. Costs of products sold were $4.9m, compared to $4.45m for the same period of 2010.
Total costs and expenses were $5.96 billion for six months of 2011, compared to $5.44 billion for the same period of 2010.
Daniel Ustian, chairman, president and CEO of Navistar, said: â€œThe second quarter results represent good earnings and strong cash flow from operations while building to deliver to our 2011 and beyond objectives. We continue to see increasing customer acceptance of all our engine and vehicle families, confirming we have the right strategy in place and that we will deliver full year results toward the higher side of our previous guidance.â€
Navistar International Corporation is a holding company whose subsidiaries and affiliates produce International brand commercial and military trucks, MaxxForce brand diesel engines, IC Bus brand school and commercial buses, Monaco RV brands of recreational vehicles, and Workhorse brand chassis for motor homes and step vans.
Will the firm further increase net sales and revenue in Q3?
Have your say and discuss with your peers on the InfoGrok community.
Participate by posting your comments now.