Oshkosh Corp. (OSK) reported second quarter net income attributable to the company of $37.3 million, or $0.41 per share, compared to $67.9 million, or $0.74 per share, in the second quarter of fiscal 2011.
Results for the second quarter of fiscal 2012 included after-tax charges of $0.02 per share related to the proxy contest in connection with the Company's 2012 annual shareholders' meeting and $0.02 per share related to the Company's exit from its U.S. mobile medical trailer product line and workforce reductions at Pierce.
Consolidated net sales in the second quarter of fiscal 2012 were $2.08 billion, an increase of 18.9 percent compared to the prior year second quarter.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.26 per share on revenues of $1.81 billion for the quarter. Analysts' estimates typically exclude special items.
The company increased its outlook for fiscal 2012 primarily due to stronger than expected orders and sales in the access equipment segment in the second quarter of fiscal 2012. The Company now expects sales in the access equipment segment will be 35 percent to 40 percent higher in fiscal 2012 compared to fiscal 2011 with operating income margins of 7.5 percent to 8.0 percent in the segment.
In addition, the company has reduced expectations for the fire & emergency segment's operating income to approximately breakeven as a result of second quarter results in this segment.
by RTT Staff Writer
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