Oshkosh profit rises, sales decline on defense orders
Oct 26 (Reuters) - Specialty truckmaker Oshkosh Corp on Friday reported higher fourth-quarter profit and reaffirmed its 2013 outlook and forecast that adjusted earnings would double by fiscal 2015.
But revenue declined from a year ago, as falling defense business sales more than offset double-digit increases in other segments.
Oshkosh, which received an unsolicited offer from activist investor Carl Icahn to buy all shares he doesn't already own, said profit from continuing operations rose to $77.6 million, or 85 cents a share, from $40.3 million, or 44 cents per share a year ago.
Excluding items, including pretax restructuring charges tied to the exit of its Medtec ambulance business and pension-related charges, earnings were $60.2 million, or 65 cents per share. That was up from $45.5 million, or 50 cents per share, a year earlier.
Net sales declined 2.3 percent to $2.06 billion.
The Oshkosh, Wisconsin-based company makes tactical vehicles for the military, specialty trucks for construction and emergency vehicles including ambulances and fire trucks.