DEC 22, 2011 - 4:20 pm
Navistar said for the fourth quarter 2011, its Navistar Financial affiliate recorded $27 million in profit, compared with a year-ago fourth quarter profit of $34 million. During fiscal year 2011, the segment earned $129 million, compared to $95 million in fiscal year 2010.
The increase in year-over-year profits included decreased administrative costs and a lower provision for credit losses, slightly offset by a lower net interest margin. Liquidity remains strong and on better terms than previously available, the company said.
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In the early 1970s, Ken Steinback was working for Minneapolis-based Fabri-Tek, a core memory manufacturer for IBM compatibles, selling add-on... read more