Navistar International has reported a net income of $84m, or $1.22 per diluted share, for the third quarter of 2012, compared to $1.4bn, or $18.24 per diluted share, for the same period in 2011.
For the third quarter of 2012, the company's revenues decreased 6% to $3.31bn, compared to $3.53bn for the same period a year ago.
Navistar reported a pre-tax loss of $100m for the quarter, compared to $54m loss for the same period last year.
The company said that the loss was driven by lower net sales in its US and Canada truck and engine segments, primarily due to lower military sales and reduced engine volumes in South America, respectively.
Navistar chairman and chief executive officer Lewis Campbell said that the company is not pleased with these results.
"With a laser focus on getting our quality right and hitting our clean engine launch dates, combined with actions to maximize cash flow and improve our balance sheet, I believe we can accelerate the pace of progress to deliver significant improvements during the next 12 to 18 months," Campbell said.
