(RTTNews) - Navistar International Corp. (NAV: News ) said Wednesday after the markets closed that it swung to a third quarter loss, hurt by continuing weakness in truck market and higher provision for income tax expenses. At the same time, the company lowered its full year earnings guidance.

The world's fourth largest truck maker reported a net loss for the third quarter of $12 million or $0.16 per share, compared to net income of $331 million or $4.47 per share for the year-ago quarter.

The latest quarter results include the impact of the asset acquisition of the recreational vehicle manufacturing business of Monaco Coach Corp., which resulted in an extraordinary gain of $23 million or $0.33 per share in the third quarter.

On average, 9 analysts polled by Thomson Reuters expected the company to earn $0.70 per share for the third quarter. Analysts' estimates typically exclude special items.

Warrenville, Illinois-based Navistar said net sales and revenues for the third quarter fell 36.5% to $2.51 billion from $3.95 billion in the same quarter last year. Eight analysts had a consensus revenue estimate of $2.67 billion for the third quarter.

Daniel Ustian, Navistar chairman, president and chief executive officer, said, "The third quarter is traditionally our most challenging quarter, but we remain focused on the long-term success of the company. Therefore, we elected not to implement drastic short-term cost cutting actions that would have impacted our ability to deliver long-term results."

Manufacturing segment profit, including the impacts of the Ford settlement, net of related charges, fell to $110 million in the third quarter from $473 million in the prior year quarter.
Due to changes in production schedules between foreign entities, improved results in foreign operations, and other special items, the company has revised its full-year tax estimates, resulting in a $30 million charge in the 2009 third quarter.

For the third quarter, the company's truck segment reported a loss of $28 million, compared to profit of $417 million in the third quarter of last year, which included major U.S. military sales as part of the company's Mine Resistant Ambush Protected vehicle program.

The company's engine segment reported profit of $45 million in the third quarter, compared to profit of $5 million a year earlier. Total engine unit volumes declined by 15,700 units in the third quarter.

The parts segment's profit jumped 82% to $93 million in the third quarter, driven by continued strong sales to the U.S. military.

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