Oshkosh's income rises

Published Thursday, July 25, 2002

Oshkosh Truck Corp. today reported that third quarter net income increased 57.4% to $21.6 million on sales of $489.5 million. Sales increased 20.6% in the third quarter. Operating income increased 39.5% to $38.4 million. The company's third quarter performance included a $4.5 million increase in operating income to record a cumulative adjustment to margins recognized on its multi-year Medium Tactical Vehicle Replacement (MTVR) vehicle production contract. This increase was a result of events in the third quarter, including the completion of a retrofit program to bring low-rate production vehicles to final configuration, sustained positive cost performance and negotiation of ...

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