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Oshkosh Truck Corp. (OSK) filed Quarterly Report for the period ended 2011-12-31.
Oshkosh has a market cap of $2.28 billion; its shares were traded at around $24.99 with a P/E ratio of 8.2 and P/S ratio of 0.3.
This is the annual revenues and earnings per share of OSK over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of OSK.
Highlight of Business Operations:
Access equipment segment net sales increased 91.8% to $627.7 million for the first quarter of fiscal 2012 compared to the first quarter of fiscal 2011. First quarter fiscal 2012 sales included $122.6 million in intersegment M-ATV related sales compared to $36.7 million in the first quarter of fiscal 2011. Sales to external customers totaled $505.1 million in the quarter, a 73.8% increase compared to the first quarter of fiscal 2011. New access equipment volume was up more than 80% compared with the prior year quarter. The Company realized double-digit sales increases in all regions of the world and across all product lines as a result of replacement of aged equipment in North America and parts of Europe, as well as economic growth and increased product adoption in emerging markets.Defense segment operating income decreased 57.6% to $92.4 million, or 8.8% of sales, in the first quarter of fiscal 2012 compared to $217.9 million, or 19.6% of sales, in the prior year quarter. The decrease in operating income as a percentage of sales compared to the prior year quarter reflected an adverse product mix. The Company reported a profit of $4.0 million on the FMTV contract during the first quarter of fiscal 2012.
The access equipment segment generated operating income of $13.1 million, or 2.1% of sales, for the first quarter of fiscal 2012 compared to an operating loss of $16.7 million, or 5.1% of sales, in the prior year quarter. The improvement in operating results was primarily due to higher sales to external customers, the absence of $11.3 million of charges associated with cost reduction actions in Europe in the prior year and an increase in intercompany M-ATV sales at mid single-digit margins, offset by an increase in raw material costs ($37.3 million) and increased new product development spending ($8.8 million).
The fire & emergency segment reported an operating loss of $10.0 million, or 6.2% of sales, for the first quarter of fiscal 2012 compared to operating income of $2.6 million, or 1.3% of sales, in the prior year quarter. Operating results during the first quarter of fiscal 2012 were negatively impacted by lower sales volume and costs related to the transition of production of ambulances and mobile medical units to the Company’s facilities in Florida ($4.6 million).
The commercial segment generated operating income of $6.9 million, or 4.0% of sales, in the first quarter of fiscal 2012 compared to an operating loss of $7.7 million, or 6.5% of sales, in the prior year quarter. Of the $14.6 million improvement in operating results, approximately $8.7 million related to higher sales volumes and improved overhead absorption, including improved lean driven manufacturing efficiencies. Improved product mix also contributed to the increase in operating income in the first quarter of fiscal 2012 as compared to the first quarter of the prior year.
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