After two quarters in the red, Navistar International Corp. reported earnings of $3 million on sales of $1.7 billion for its second fiscal quarter ending April 30.

The company lost money in its first fiscal quarter and fourth quarter 2001. For second quarter 2000 it posted revenues of $98 million on sales of $2.3 billion for the same period.
John Horne, chairman, president and CEO, noted that weakness in new and used truck pricing and shipments continues unabated. "We continue to build for the future by balancing truck production with industry demand and managing our cash as we continue to make fundamental changes in the way we do business," he said. "When truck industry demand turns up, we will be well positioned with our products because our brand continues to get stronger and our productivity and cost structure continue to improve."
Worldwide shipments of International medium and heavy trucks and school buses in the second quarter totaled 25,049 units, compared with 19,847 in the first quarter, and 35,902 in second quarter 2000. Shipments of midrange diesel engines to other original equipment manufacturers totaled 85,284, up from 73,539 in the first quarter and 83,167 a year ago.
For the first six months of its fiscal 2001 Navistar reported a loss of $32 million on sales of $4.3 billion, compared to a $168 million profit on $4.6 billion for the first half of fiscal 2000.