Navistar Plans to Restate 9-Month Results Showing Higher Profit

Navistar International Corp. said it plans to restate its results for the first nine months of fiscal year 2008 to show net income that was higher than first reported.

For the nine-month period ended July 31, Navistar had said in September that its net earnings were $434 million.

The company said the new filing would boost that profit by an additional $50 million and $70 million, or an additional 68 cents to 95 cents per diluted share.

The restatement is not likely to delay Navistar’s plans to file its financial results on Tuesday for the 2008 fiscal year ended Oct. 31, Navistar said.

It affirmed its guidance for fiscal 2008 of net income in the range of $467 million to $548 million, and $6.35 to $7.45 per share, excluding impairment charges.

Navistar’s truck segment “performed for the year as anticipated; however, the profitability occurred earlier in the current fiscal year than previously expected,” said Navistar, which makes International brand trucks.