Oshkosh Truck Corporation has reported third quarter net income up 26.5% to $US30.6 million, or $0.85 per share, on sales of $599.8 million for the quarter ended June 30, 2004.
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This compares with net income of $24.2 million, or $0.69 per share, on sales of $538.2 million for last year’s third quarter. As a result of strong third quarter earnings, Oshkosh increased its earnings per share estimate for the full year ending September 30, 2004 from $2.90 to $3.00 per share.
Sales increased 11.5% in the third quarter. Operating income increased 20.2% to $49.2 million, or 8.2% of sales, compared to $40.9 million, or 7.6% of sales, in the prior year’s third quarter.
The company also reported that net income increased 66.9% to $82.8 million, or $2.30 per share, for the first nine months of fiscal 2004 on sales of $1,611.2 million compared to $49.6 million, or $1.42 per share, for the first nine months of fiscal 2003 on sales of $1,417.9 million.
Operating income increased 52.9% to $131.0 million, or 8.1% of sales, in the first nine months of fiscal 2004 compared to $85.6 million, or 6.0% of sales, in the first nine months of fiscal 2003.
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