Oshkosh Corp. reports drop in profits

Talk about it

OSHKOSH - The Oshkosh Corporation reports a 45-percent drop in its quarterly profits, caused mainly by a big change in the company’s military vehicle business.

Oshkosh said this morning that it netted $37-million from January-through-March, down from $68-million in the same quarter of 2011. Earnings dropped from 74-cents a share to 39-cents. Total sales rose by 19-percent to around two-billion dollars. Military vehicle sales were also up by one-and-a-half percent – but the operating income from its Defense Division plunged by 70-percent because the military switched from more profitable heavy vehicles to lighter-and-cheaper models.

However, Oshkosh did have a 61-percent jump in its sales of access equipment – like aerial work platforms.

Tags: wisconsin business, business, wisconsin, military