Navistar International Corp.: The Chicago truck maker...
From Times Staff and Wire Reports
Navistar International Corp.: The Chicago truck maker said net income for fiscal 1989 dropped 64% from last year to $87 million. Revenue was $4.2 billion, about the same as last year. The company reported a fourth-quarter loss of $13 million, contrasted with a profit of $82 million in the same period a year ago. Navistar officials attributed the decline in earnings to reduced industrywide demand for medium and heavy trucks, and to pressure on truck margins from higher component costs. The company said earnings for the year were also lowered by costs incurred in assimilating a line of 27 new truck models.
Tables, D8
