Oshkosh Defense Reports Sales Decline

Oshkosh Corp. announced today quarterly sales fell about 7 percent to hit $1.55 billion.

The company noted lower defense segment sales were offset by improved demand in Oshkosh's non-defense segments.

The defense business reported quarterly sales dropped to $158.7 million, down about 67 percent from the same period a year ago.

"The decrease in sales was primarily due to expected lower sales to the U.S. Department of Defense (DoD) stemming from the break in production under the [Family of Heavy Tactical Vehicle] program and lower Family of Medium Tactical Vehicle requirements, as well as the absence of international sales of MRAP All-Terrain Vehicles," Oshkosh said.

The defense business recorded a loss of $12 million for the quarter.