CHICAGO (Reuters) - Navistar International Corp , the U.S. truck and engine maker, said on Wednesday it swung to a quarterly profit, helped by strong sales of specialized vehicles to the military, a relatively new but fast-growing business for the company.
Navistar also reaffirmed its full-year profit and sales forecast, but cut its projection for full-year industry retail sales for trucks and buses in the United States and Canada.
The company reported a fiscal first-quarter profit of $234 million, or $3.27 a share, versus a net loss of $65 million, or 92 cents a share, last year.
Sales were little changed at $2.97 billion.
Analysts, on average, expected the Warrenville, Illinois-based company to report a profit of $1.63 a share, according to Reuters Estimates, on sales of $3.27 billion.
Navistar now expects the industry to sell between 210,000 to 225,000 trucks and buses in the U.S. and Canada in the year ending October 31, down from the previous forecast of 244,000 to 256,000 units.
(Reporting by James Kelleher; editing by Jeffrey Benkoe)
