Oshkosh Corp. profit up 10.3 percent

Defense spending continues to bolster Oshkosh Corp. The company reported that its fiscal third quarter net income was up 10.3 percent to $75.7 million and that its net sales for the quarter were up 7.6 percent to $2.176 billion.

“Our defense segment performed well by delivering another quarter of improved margins on the FMTV (Family of Medium Tactical Vehicles)program and just last week we announced an order for future sales of 750 M-ATVs (Mine Resistant Ambush Protected All-Terrain Vehicle) to the United Arab Emirates,” said Charles L. Szews, Oshkosh Corp. president and chief executive officer.
The company also announced that it was exiting the ambulance and European mobile medical businesses in its fire and emergency segment.
“These were difficult, but necessary actions that will reduce costs and help the fire and emergency segment focus on profitably growing its core business across the globe,” Szews said.

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