Specialty truck maker Oshkosh Truck Corp. reported on Tuesday its quarterly earnings rose, led by strong demand for US military vehicles, according to Reuters.
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For the fiscal fourth quarter ended September 30, Oshkosh said net income rose to $US26 million, or 74 cents a share, from $17.2 million, or 50 cents a share, a year earlier, the news agency said, noting that the year-ago per-share amount is adjusted for a recent two-for-one stock split and that sales increased 6.5% to $508.12 million from $477 million.
Reuters said Oshkosh defence sales increased 18.3% to $199.2 million, largely due to shipments of the Heavy Equipment Transporter to the UK Ministry of Defence and increased parts sales.
Its commercial business, which includes concrete mixers and rubbish trucks, boosted sales 2.7%, but operating income fell 38.4% due to substantial investments in engineering and development, the report added.
According to Reuters, sales of fire and emergency vehicles declined 3.3% while operating income declined 23.4% as Oshkosh Truck blamed lower spending by municipal and state governments due to budget constraints and an adverse product mix.
