OSHKOSH, WI (WTAQ) - The Oshkosh Corporation said its quarterly earnings more than doubled from a year ago, thanks in part to a higher demand for its aerial lifts and commercial vehicles.
The company that's best known for its military vehicles reports a net income of $77.5 million from July through September. That's up from $36 million a year ago, during the final quarter of the company's fiscal year.
Stockholders saw their earnings jump from 41 cents a share to 93 cents over the past year. Also, Oshkosh announced a 13 percent increase in its dividends, to 17 cents a share. That will be given December second to stockholders on record as of November 18th.
Oshkosh officials said its access lift equipment and commercial segments surpassed last year's record operating income margins.
Defense vehicle sales dropped 44 percent in the past year, due a scale back of U.S. operations in the Middle East.
For the fiscal year as a whole, Oshkosh reports a 2.1 percent drop in its net income to $309 million.
(Story courtesy of Wheeler News Service)