Oshkosh reports higher defense sales

By Marjorie Censer / August 1, 2019 at 9:50 AM

Oshkosh said today sales in its defense segment during the most recent quarter hit $511 million, up almost 16% from the same three-month period a year earlier.

The company attributed the boost to a "continued ramp up of sales to the U.S. government under the [Joint Light Tactical Vehicle] program."

Oshkosh said quarterly profit in the defense group was just shy of $30 million, down almost 40% from the prior year.

"The decrease in operating income was due to changes associated with the application of the new revenue recognition standard, an adverse product mix and costs to start up a manufacturing facility in Tennessee," the company said.