Navistar recently announced its financial report for the second quarter of fiscal year 2014 (February to April 2014). The company’s loss level in the previous quarter was reduced and its operating income was also higher than in the same period in 2013.
In the second quarter, Navistar’s operating income reached US$2.708 billion, compared to US$2.487 billion in the same period of last year, an increase of 8.9% year-on-year; the company’s net loss in the previous quarter was still US$297 million, but it was comparable to the same period of last year. The US$374 million decreased by 20.6%.
Among the operating departments, the loss of Navier North America's truck business division in the second quarter decreased from 303 million U.S. dollars in the same period of last year to 134 million U.S. dollars; and the operating profit of North America's spare parts business department reached 126 million U.S. dollars, a year-on-year increase of 10.5 percent; The company’s global operating unit in the quarter suffered a loss of 150 million U.S. dollars, compared with a profit of 32 million U.S. dollars in the same period last year.
Looking at the overall performance of the first half of the fiscal year, Navistar’s cumulative operating income decreased by 4.1% year-on-year to US$4.877 billion; net loss continued to increase year-on-year to US$545 million, which was 497 million compared to the same period last year. The dollar increased by 9.7%.
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