OSHKOSH, WI (WTAQ) - The Oshkosh Corporation made more money than expected in its last quarter.
Sales have been slipping at the famous military-vehicle maker, with the wars in Iraq and Afghanistan becoming a distant memory. But during its most recent quarter, Oshkosh reported strong sales of its aerial equipment for the construction industry. That offset a drop in military vehicle sales.
As a result, Oshkosh netted $54.9 million from October through December, up almost $9 million from the same quarter a year ago. Earnings totaled 63 cents a share, up from 51 cents the previous year.
Total revenues still dropped by over 12 percent, to a little more than $1.5 billion.
Sales and earnings were both higher than what outside analysts from Thomson Reuters had expected. Oshkosh outperformed its projections by 30 cents a share. The firm also raised its full year earnings goal by 25 to 30 cents a share.
(Story courtesy of Wheeler News Service)