Navistar Adjusts 1Q Earnings Downward; Maintains '05 Guidance

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avistar International Corp. said Monday it had adjusted its earnings downward for its first quarter ended Jan. 31 to $18 million or 24 cents a share, from a previously reported $20 million or 27 cents.

he company said the adjusted results will not change its 2005 per-share earnings guidance of at $4.60 to $5.00 per share.

Navistar said charges related to the company's engine foundry operations needed to be adjusted from $8 million to $12 million. It said it was filing its adjusted Form 10-Q Monday with the Securities and Exchange Commission.

Navistar, the parent company of International Truck and Engine Corp., had several times since late last year delayed its financial filings because of audits of its previous earnings.

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