Dec 19 U.S. truck and engine maker Navistar
International Corp reported a quarterly loss on tax
expenses and charges related to its cost-cutting program.
The company reported an attributable loss of $2.77 billion,
or $40.13 per share, for the fourth quarter, compared with a
profit of $255 million, or $3.48 per share, a year earlier.
The results included a non-cash tax expense of $2 billion,
or $28.59 per share, Navistar said.
Revenue fell 24 percent to $3.28 billion.
Activist investor Carl Icahn, who has a 14.8 percent stake
in Navistar according to Reuters data, has been unhappy with the
way the company has run its business and has long sought its
merger with rival Oshkosh Corp.