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Oshkosh Corp. reports quarterly drop in net income

Oshkosh Corporation logo (By Oshkosh corporation [Public domain], via Wikimedia Commons)
Oshkosh Corporation logo (By Oshkosh corporation [Public domain], via Wikimedia Commons)

OSHKOSH, WI (WTAQ) - The Oshkosh Corporation continues to suffer from the ending of the Iraq and Afghanistan wars.  

The maker of military vehicles reports a 17 percent drop in its quarterly net income.  

Oshkosh said Tuesday it netted $71.5 million in sales from January through March, down from $86 million at the same time a year ago. Earnings slipped from 96 cents a share to 83 cents.  

Oshkosh did say it's aerial construction equipment sales rose by six percent, but sales of fire and emergency vehicles fell 10 percent.  

Oshkosh CEO Charles Szews told investment analysts that his firm is another extension with the Pentagon to produce a smaller number of heavy tactical trucks. It's also looking to sell military vehicles to foreign governments, and it expects contract announcements over the next two years.

Oshkosh is now having one of its vehicle types tested in Saudi Arabia. Szews said the tensions in Russia and the Ukraine provide a potential opportunity.

(Story courtesy of Wheeler News Service)