Oshkosh Reports Lower Profit in Fiscal 1Q

Oshkosh Corp. said Friday its fiscal first-quarter profit fell on lower sales volumes.

The specialty truck maker’s net income was $99.6 million, or $1.09 per share, compared with $169.6 million, or $1.87 per share, a year ago.

Revenue for the quarter ended Dec. 31 dropped to $1.7 billion, from $2.43 billion a year earlier.

Defense segment sales dropped 40.1% to $1.11 billion from $1.86 billion in the same period a year ago, primarily due to the completion of its M-ATV, or mine resistant armored vehicle, contract.

Commercial segment sales fell 22.9% to $119.5 million, due to a 40% increase in refuse collection vehicle sales. It saw an operating loss of $7.7 million, compared with an operating income of $3.1 million a year ago.

Fire and emergency segment sales for the first quarter of fiscal 2011 fell 10.5% to $201.5 million, reflecting softer demand from U.S. municipal budgets and overall economic weakness, Oshkosh said in a statement.