Navistar Reports $20 Mln. First-Quarter Profit

avistar International Corp. reported it earned $20 million or 27 cents a share for its first quarter ended Jan. 31, compared with a loss of $14 million or 20 cents a year ago.

Navistar is parent of International Truck and Engine Corp., which makes trucks and engines for the Class 8 and lighter-truck markets in the United States.

The company’s sales and revenues totaled $2.6 billion for the quarter, compared with a restated $1.9 billion for the first quarter of last year.

Daniel Ustian, the company’s chief executive officer, forecast that its full-year 2005 earnings would be in the range of $4.60 to $5 a share.

He said the company’s Class 8 market share rose in the first quarter to 19.1%, from 15.5% a year ago.

Separately, Navistar’s South American engine subsidiary agreed to buy a major Brazilian diesel engine maker, the company said. The purchase price was not disclosed.

International Engines South America will buy MWM Motores Diesel Ltda., which makes medium- and high-speed diesel engines ranging from 50 to 310 horsepower for light and semi-heavy trucks, the company said in a statement.

MWM’s annual production tops 85,000 engines and the privately held company generated about $370 million in revenue last year, Navistar said.