Oshkosh reports defense sales boost

Oshkosh said today sales in its defense business during its most recent quarter grew 87 percent to hit $297 million.

"The increase in sales was primarily due to increased sales of Family of Heavy Tactical Vehicles . . . and international Mine Resistant Ambush Protected All-Terrain Vehicles," the company said. "The company experienced a break in production under the FHTV program in the second quarter of fiscal 2015."

Oshkosh's defense unit reported quarterly profit of $27.8 million, up from a loss of $12 million in the same three-month period a year earlier.

"The outlook for our defense business has continued to improve," Wilson Jones, Oshkosh's chief executive, said during a call with analysts today. "We now expect a production ramp-up of the [Joint Light Tactical Vehicle] will be quicker than we previously expected."