Oshkosh Sees 4Q Income Fall

Oshkosh Corp. said Thursday its fiscal fourth-quarter profit fell, due in part to discontinued operations.

The specialty truck maker’s net income was $116.6 million, or $1.28 per share, compared with $140.3 million, or $1.68 per share, a year ago.

Revenue for the quarter ended Sept. 30 grew to $2.11 billion, from $1.47 billion a year earlier.

Income from continuing operations was $45.7 million a year ago, or 55 cents a share, Oshkosh said.

Defense segment sales grew 55.6% to $1.33 billion in the quarter, compared with last year. This was due to sales to provide M-ATVs and partially offset by lower sales of aftermarket armor.

Commercial segment sales rose 24.8% to $162.8 million, due to a 75% increase in concrete placement products sales. Operating income increased to $7.9 million, compared with operating income of $3.8 million a year ago.

Fire and emergency segment sales for the fourth quarter of fiscal 2010 fell 5.6% to $254.7 million, reflecting softer demand from U.S. municipal budgets, Oshkosh said in a statement.

Income in the fiscal year was $790 million, compared with a loss of $1.1 billion last year. Revenue rose to $9.8 billion, from $5.3 billion.