Navistar will post restated financial results Oct. 25

Navistar International, the Warrenville-based truck maker that hasn't filed financial reports in two years, said it will delay release of its restated results for another month, to Oct. 25.

The world's fourth-largest truck builder will disclose results for 2003 through 2005 at an investor and analyst meeting in New York, Navistar said today in a statement. The company previously said the data would be released at the end of September.

"Although the timing of the release is nearly a month later than expected, we view it as a positive that the company has now set a formal date," said Peter Nesvold, a Bear Stearns & Co. analyst in New York, in a note to investors today. He rates the shares "peer perform."

Navistar's financial blackout prompted the New York Stock Exchange to delist the stock in February. The shares nevertheless rocketed up 76 percent this year, through yesterday, as Navistar logged $1 billion in U.S. military orders for blast-resistant vehicles.

Navistar, which last released a financial report in September 2005, has since changed auditors and overhauled its accounting department.

Navistar rose $2.90, or 4.9 percent, to $61.90 at 10:17 a.m. New York time in over-the-counter trading.

Navistar, which makes buses, heavy-duty trucks and engines for heavy pickup trucks, said it will also release "third quarter operating metrics" for 2007 at the meeting. The data will include market share, truck and engine shipments, and cash and debt levels, but not net income, the company said.

The company didn't say when it intends to release full 2006 or 2007 financial statements. The timing of those restatements may be discussed at the October meeting, Navistar spokesman Jon Harmon said in an interview.

Nesvold said he expects Navistar to seek relisting on the New York Stock Exchange.