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Navistar reports loss on tax expense, charges
December 19, 2012 / 12:26 PM / in 5 years

Navistar reports loss on tax expense, charges

Dec 19 (Reuters) - 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.

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