Textron Systems reports lower sales, while Oshkosh sees improvement

Textron Systems said today sales in its most recent quarter totaled $357 million, down almost 11% from the same three-month period a year earlier.

The unit attributed the decline to lower volume in its TRU Simulation+Training business.

Textron Systems recorded quarterly profit of $49 million, up 48% from the prior year, which the company attributed to improved performance.

Meanwhile, Oshkosh said today sales in its defense segment during its most recent quarter totaled $550 million, up 10% from the same three-month period a year earlier.

The unit's quarterly profit reached $53 million, up 70% from the prior year.

Oshkosh attributed the growth to an "increase in the cumulative catch-up adjustment on contract margins of $11.0 million, favorable product mix and the impact of higher sales volume, offset in part by higher new product development spending."