Oshkosh Truck Reports Third Quarter EPS up 38.5 Percent to $0.72.OSHKOSH Oshkosh (ŏsh`kŏsh'), city (1990 pop. 55,006), seat of Winnebago co., E Wis., on Lake Winnebago where the Upper Fox River enters; inc. 1846. , Wis adv. 1. Certainly; really; indeed. v. t. 1. To think; to suppose; to imagine; - used chiefly in the first person sing. present tense, I wis. See the Note under Ywis. . -- Raises Full-Year Fiscal 2006 EPS (Encapsulated PostScript) A PostScript file format used to transfer a graphic image between applications and platforms. EPS files contain PostScript code as well as an optional preview image in TIFF, WMF, PICT or EPSI, the latter being an ASCII-only format. Estimate Range to $2.70 - $2.75 and Announces Fiscal 2007 EPS Estimate Range of $3.05 - $3.15 Oshkosh Truck Oshkosh Truck NYSE: OSK, is a manufacturer of specialty trucks and truck bodies for defense, industrial and fire emergency applications. It is based in Oshkosh, Wisconsin and employs about 7,000 people worldwide in five countries. Corporation (NYSE NYSE See: New York Stock Exchange :OSK OSK On Screen Keyboard OSK Osaka Shosen Kaisha (Japanese shipping line) OSK One Shot Kill (gaming clan) OSK Oslo Seilflyklubb (Norwegian: Oslo Gliding Club) ), a leading manufacturer of specialty trucks and truck bodies, today reported that, for the quarter ended June June: see month. 30, 2006, earnings per share increased 38.5 percent to $0.72 on sales of $887.9 million and net income of $53.4 million. This compares with earnings per share of $0.52 on sales of $818.9 million and net income of $38.7 million for the prior year's third quarter. These results exceeded Oshkosh's most recent earnings per share estimate range for the third quarter of fiscal 2006 of $0.53 - $0.57 per share. Based upon the results of the third quarter, Oshkosh increased its earnings per share estimate range for the full year ending September September: see month. 30, 2006 to $2.70 - $2.75 per share. Sales increased 8.4 percent in the third quarter of fiscal 2006 as compared to the prior year's third quarter. Operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. increased 31.2 percent to $82.6 million, or 9.3 percent of sales, compared to $63.0 million, or 7.7 percent of sales, in the prior year's third quarter. All segments contributed to the sales and earnings growth during the third quarter with the commercial segment driving approximately two-thirds of the increase in consolidated operating income. Third quarter operating income rose 252.0 percent in the commercial segment compared to the prior year's third quarter. Commenting on the results, Robert Robert, Henry Martyn 1837-1923. American army engineer and parliamentary authority. He designed the defenses for Washington, D.C., during the Civil War and later wrote Robert's Rules of Order (1876). Noun 1. G. Bohn Bohn is a German surname. People with the surname Bohn:
Bohn continued, "Oshkosh's defense segment contributed another solid quarter, and the fire and emergency segment experienced strong results led by a superior performance in our Pierce Manufacturing Pierce Manufacturing is an Appleton, Wisconsin based manufacturer of custom fire and rescue apparatus and a wholly owned subsidiary of Oshkosh Truck Corporation. Pierce was acquired by Oshkosh in 1996. fire apparatus apparatus /ap·pa·ra·tus/ (ap?ah-ra´tus) pl. appara´tus, apparatuses a number of parts acting together to perform a special function. branchial apparatus pharyngeal a. business and improved airport product sales. Exceptional results year-to-date Year-to-date (YTD) The period beginning at the start of the calendar year up to the current date. , along with solid visibility into the next quarter, provided the basis for us to raise our earnings per share estimate range to $2.70 - $2.75 for fiscal 2006. "We're we're Contraction of we are. we're we are very pleased to have announced during the last 90 days that we have entered into agreements to purchase two additional companies, AK Specialty Vehicles and Iowa Mold Tooling. Both companies will continue our diversification Diversification A risk management technique that mixes a wide variety of investments within a portfolio. It is designed to minimize the impact of any one security on overall portfolio performance. Notes: Diversification is possibly the greatest way to reduce the risk. within specialty body markets and move Oshkosh Truck into several new product lines, including broadcasting, mobile medical, specialized spe·cial·ize v. spe·cial·ized, spe·cial·iz·ing, spe·cial·iz·es v.intr. 1. To pursue a special activity, occupation, or field of study. 2. cranes and service vehicles. We believe each company also provides near-term near-term adj. Of, for, or involving a short period of time in the near future. growth prospects and an opportunity for sharing technologies throughout the corporation. We expect these acquisitions to contribute annual sales of approximately $245 million and $0.10 per share to fiscal 2007 earnings," stated Bohn. Bohn concluded, "We have initiated our earnings per share estimate range for fiscal 2007 at $3.05 - $3.15. This estimate range reflects our confidence in our ability to deliver earnings improvement despite softening softening /sof·ten·ing/ (sof´en-ing) malacia. softening a change of consistency, with loss of firmness or hardness. market demand for vocational Vocational Relating to an occupation, career, or job. Mentioned in: Myers-Briggs Type Indicator trucks in 2007 as a result of the diesel engine emissions emissions npl → émissions fpl emissions npl → Emissionen pl standards changes effective January January: see month. 1, 2007. It also fully considers the contributions of our latest acquisitions, along with prospects for organic growth. As we move into fiscal 2007, we are actively pursuing more acquisitions, new business development opportunities and operational initiatives to improve on these estimates." Factors affecting third quarter results for the Company's business segments included: Fire and emergency--Fire and emergency segment sales increased 14.7 percent to $255.3 million for the quarter compared to the third quarter of last year. Operating income was up 28.7 percent to $29.8 million, or 11.7 percent of sales, compared to prior year quarter operating income of $23.1 million, or 10.4 percent of sales. The increase in sales for the fire and emergency segment included $13.6 million in sales that were delayed from the previous quarter due to two separate supplier component issues. Operating income margins for the fire and emergency segment improved due to an improved product mix, including increased airport product sales, and benefits from cost reduction initiatives, especially at Pierce Pierce may refer to: Places
Defense--Defense segment sales increased 3.7 percent to $291.4 million for the quarter compared to the prior year's third quarter. An increase in sales of remanufactured trucks for the U.S. Department of Defense and of new trucks for international customers offset lower parts and service and Medium Tactical Vehicle Replacement Medium Tactical Vehicle Replacement (MTVR) or 7-Ton, is a six-wheel drive all-terrain vehicle used by the United States Marine Corps and United States Navy. It is designed to replace the old M900 series of tactical trucks, and was first fielded in 1998, after the ("MTVR MTVR Medium Tactical Vehicle Replacement ") truck sales. The MTVR base contract was concluded during the third quarter of fiscal 2005. Operating income in the third quarter was up 6.7 percent to $49.0 million, or 16.8 percent of sales, compared to prior year operating income of $46.0 million, or 16.4 percent of sales. The increase in operating income for the third quarter was primarily due to the increase in sales and was partially offset by higher bid and proposal spending. Operating income margins in the third quarter of fiscal 2005 benefited from a $2.1 million ($0.02 per share) adjustment to MTVR base contract margins, which was recorded under the percentage of completion method of accounting. Commercial--Commercial segment sales increased 8.8 percent to $350.6 million in the third quarter compared to the prior year quarter. Operating income increased 252.0 percent to $25.4 million, or 7.2 percent of sales, compared to $7.2 million, or 2.2 percent of sales, in the prior year quarter. The increase in sales for the segment was largely due to strong demand at the Company's North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. businesses in advance of diesel engine emissions standards changes effective January 1, 2007 and higher unit sales unit sales Sales measured in terms of physical units rather than dollars. Unit sales data are often used by financial analysts when evaluating the health of a company. at the Company's European European emanating from or pertaining to Europe. European bat lyssavirus see lyssavirus. European beech tree fagussylvaticus. European blastomycosis see cryptococcosis. refuse business, offset in part by a lower mix of package sales involving both a truck chassis Pronounced "chah-see," it is a physical structure that holds everything or that everything is attached to. A computer's cabinet is often called the chassis. and truck body. The significant increase in operating income margins in the third quarter of fiscal 2006 resulted from both higher price realization and cost reduction in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. and continued profitable operations at the Company's European refuse business compared to an operating loss operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. of $5.1 million in Europe Europe (y  r`əp), 6th largest continent, c.4,000,000 sq mi (10,360,000 sq km) including adjacent islands (1992 est. pop. 512,000,000). in the third quarter of fiscal 2005. The prior year's third quarter
results included a $4.3 million ($0.04 per share) charge for workforce
reductions at the Company's European refuse business. The
improvement in Europe resulted from increased sales volume, cost
reduction activities and restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). activities that began in fiscal
2005.Corporate and other--Operating expenses and inter-segment profit elimination increased $8.2 million to $21.5 million. The increase in the third quarter was largely due to a $5.9 million increase in acquisition investigation and related costs, an additional $1.1 million related to the expensing of stock options due to the adoption of Statement of Financial Accounting Standards No. 123(R), "Share Based Payment," and $0.8 million related to the Company's new office in China. Interest income net of interest expense for the quarter was $0.3 million as compared to $1.4 million of net expense for the prior year quarter. Lower interest costs were largely due to the repayment of acquisition-related debt and higher interest income resulting from the investment of higher average cash balances during the quarter. Cash and cash equivalents, net of debt, increased during the quarter to $193.1 million at June 30, 2006 from $74.6 million at March 31, 2006. Nine-Month Results The Company reported that earnings per share increased 31.3 percent to $2.10 per share for the first nine months of fiscal 2006 on sales of $2.52 billion and net income of $156.3 million compared to $1.60 per share for the first nine months of fiscal 2005 on sales of $2.14 billion and net income of $117.5 million. Results for the first nine months of fiscal 2005 included MTVR base contract life-to-date margin adjustments totaling $24.7 million. Operating income increased 29.0 percent to $249.3 million, or 9.9 percent of sales, in the first nine months of fiscal 2006 compared to $193.2 million, or 9.0 percent of sales, in the first nine months of fiscal 2005. Dividend Announcement Oshkosh Truck Corporation's Board of Directors declared a quarterly dividend of $0.10 per share of Common Stock. The dividend, unchanged from the immediately preceding quarter, will be payable August 23, 2006 to shareholders of record as of August 15, 2006. The Company will comment on third quarter earnings and expectations for the remainder of fiscal 2006 and for fiscal 2007 during a live conference call at 9:00 a.m. Eastern Daylight Time this morning. Viewer-controlled slides for the call will be available on the Company's website beginning at 8:30 a.m. Eastern Daylight Time this morning. The call will be available simultaneously via a webcast over the Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the as a service to investors. It will be listen-only format for on-line listeners. To access the webcast, investors should go to www.oshkoshtruckcorporation.com at least 15 minutes prior to the event and follow instructions for listening to the broadcast. An audio replay of such conference call and related question and answer session will be available for twelve months at this website. Oshkosh Truck Corporation is a leading designer, manufacturer and marketer of a broad range of specialty commercial, fire and emergency and military trucks and truck bodies. Oshkosh's products are valued worldwide by fire and emergency units, defense forces, municipal and airport support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services , and concrete placement and refuse businesses where high quality, superior performance, rugged reliability and long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. value are paramount. Forward-Looking Statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. This press release contains statements that the Company believes to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. All statements other than statements of historical fact, including, without limitation, statements regarding the Company's future financial position, business strategy, targets, projected sales, costs, earnings, capital expenditures, debt levels and cash flows, and plans and objectives of management for future operations, are forward-looking statements. When used in this press release, words such as "may," "will," "expect," "intend," "estimate," "anticipate," "believe," "should," "project" or "plan" or the negative thereof or variations thereon there·on adv. 1. On or upon this, that, or it. 2. Archaic Following that immediately; thereupon. Adv. 1. thereon - on that; "text and commentary thereon" on it, on that or similar terminology are generally intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, assumptions and other factors, some of which are beyond the Company's control, that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors include the Company's ability to continue the turnaround Turnaround A situation where a company that has had poor performance for an extended period of time experiences a positive reversal. Notes: A speculator may profit from a turnaround if he or she accurately anticipates the improvement of a poorly performing company. of its Geesink Norba Group business, the cyclical cyclical Of or relating to a variable, such as housing starts, car sales, or the price of a certain stock, that is subject to regular or irregular up-and-down movements. nature of the Company's commercial and fire and emergency markets, risks related to reductions in government expenditures, the uncertainty of government contracts, the availability of defense truck carcasses for remanufacturing Remanufacturing is the process of disassembly and recovery at the module level and, eventually, at the component level. It requires the repair or replacement of worn out or obsolete components and modules. , the challenges of identifying acquisition candidates and integrating acquired businesses, risks associated with the implementation of an enterprise resource planning See ERP. (application, business) Enterprise Resource Planning - (ERP) Any software system designed to support and automate the business processes of medium and large businesses. system at McNeilus McNeilus is the largest employer in the city Dodge Center, Minnesota. [1] McNeilus manufactures Concrete transport trucks [2], and is owned by Oshkosh Truck NYSE: OSK. (R); the success of the Revolution(R) composite concrete mixer mixer, either of two electronic devices in which two or more signals are combined. In the type of mixer used in radio receivers, radar receivers, and similar systems, a signal is translated upward or downward in frequency. drum, the availability of commercial chassis and certain chassis components including engines, and risks associated with international operations Internal Operations (I.O., IO or I/O) is a fictional American Intelligence Agency in Wildstorm comics. It was originally called International Operations. I.O. first appeared in WildC.A.T.S. volume 1 #1 (August, 1992) and was created by Brandon Choi and Jim Lee. and sales, including foreign currency fluctuations. In addition, the Company's expectations for fiscal 2006 and fiscal 2007 are based in part on certain assumptions made by the Company, including without limitation those relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the Company's ability to continue the turnaround of the business of the Geesink Norba Group sufficiently to support its current valuation resulting in no non-cash impairment Impairment 1. A reduction in a company's stated capital. 2. The total capital that is less than the par value of the company's capital stock. Notes: 1. This is usually reduced because of poorly estimated losses or gains. 2. charge for Geesink Norba Group goodwill; the Company's ability to sustain flat operating income in the commercial segment and to raise operating income in its fire and emergency segment in fiscal 2007 despite anticipated lower industry demand resulting from changes to diesel engine emissions standards effective January 1, 2007; the Company's estimates for the level of concrete placement activity, housing starts and mortgage rates; the performance of the U.S. and European economies generally; the Company's expectations as to timing of receipt of sales orders The sales order, sometimes abbreviated as SO, is an order received by a business from a customer. A sales order may be for products and/or services. Given the wide variety of businesses, this means that the orders can be fulfilled in several ways. and payments and execution and funding of defense contracts; the Company's ability to achieve cost reductions and operating efficiencies, in particular at McNeilus and the Geesink Norba Group; the anticipated level of production and margins associated with the Family of Heavy Tactical Vehicles See: military designed vehicle. contract, the Indefinite INDEFINITE. That which is undefined; uncertain. INDEFINITE, NUMBER. A number which may be increased or diminished at pleasure. 2. When a corporation is composed of an indefinite number of persons, any number of them consisting of a majority of those Demand/Indefinite Quantity truck remanufacturing contract, the MTVR follow-on fol·low-on adj. Following as a related or consequent aspect or development: "Such contracts involve follow-on sales of maintenance services" Christian Science Monitor. contract and international defense truck contracts; the expected level of U.S. Department of Defense procurement The fancy word for "purchasing." The procurement department within an organization manages all the major purchases. of replacement parts and services and funding thereof; the Company's estimates for capital expenditures of municipalities for fire and emergency and refuse products, of airports for aircraft rescue and snow removal products and of large commercial waste haulers generally and with the Company; federal funding levels for U.S. Department of Homeland Security Noun 1. Department of Homeland Security - the federal department that administers all matters relating to homeland security Homeland Security executive department - a federal department in the executive branch of the government of the United States and spending by governmental entities on homeland security Noun 1. Homeland Security - the federal department that administers all matters relating to homeland security Department of Homeland Security executive department - a federal department in the executive branch of the government of the United States apparatus; the availability of chassis components including engines and commercial chassis generally; the Company's planned spending on product development and bid and proposal activities with respect to defense truck procurement competitions and the outcome of such competitions; the expected level of commercial "package" body and purchased chassis sales compared to "body only" sales; the Company's ability to integrate acquired businesses and achieve expected synergies; the Company's ability to close the Iowa Mold Tooling acquisition; the Company's estimates of the impact of changing fuel prices and credit availability on capital spending capital spending Spending for long-term assets such as factories, equipment, machinery, and buildings that permits the production of more goods and services in future years. of towing operators; anticipated levels of capital expenditures; the Company's estimates for costs relating to litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. , acquisition investigation, product warranty, insurance, stock options and restricted stock awards, personnel and raw materials; the Company's ability to negotiate expiring ex·pire v. ex·pired, ex·pir·ing, ex·pires v.intr. 1. To come to an end; terminate: My membership in the club has expired. 2. union contracts on a satisfactory basis; the Company's estimates for debt levels, interest rates, working capital needs and effective tax rates; and that the Company does not complete any further acquisitions other than AK Specialty Vehicles and Iowa Mold Tooling. Additional information concerning these and other factors is contained in the Company's filings with the Securities and Exchange Commission, including the Form 8-K Form 8-K The form required by the SEC when a publicly held company incurs any event that might affect its financial situation or the share value of its stock. Form 8-K See 8-K. filed today.
OSHKOSH TRUCK CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(Unaudited)
Three Months Ended Nine Months Ended
June 30, June 30,
----------------------- -----------------------
2006 2005 2006 2005
----------- ----------- ----------- -----------
(In thousands, except per share amounts)
Net sales $ 887,919 $ 818,912 $2,523,035 $2,136,184
Cost of sales 732,629 695,068 2,069,457 1,776,856
----------- ----------- ----------- -----------
Gross income 155,290 123,844 453,578 359,328
Operating expenses:
Selling, general and
administrative 70,841 58,827 198,617 160,332
Amortization of
purchased
intangibles 1,832 2,046 5,617 5,768
----------- ----------- ----------- -----------
Total operating
expenses 72,673 60,873 204,234 166,100
----------- ----------- ----------- -----------
Operating income 82,617 62,971 249,344 193,228
Other income
(expense):
Interest expense (1,293) (1,880) (4,212) (6,370)
Interest income 1,625 481 4,457 1,499
Miscellaneous, net (301) (224) (709) (837)
----------- ----------- ----------- -----------
31 (1,623) (464) (5,708)
----------- ----------- ----------- -----------
Income before
provision for income
taxes, equity in
earnings of
unconsolidated
affiliates and
minority interest 82,648 61,348 248,880 187,520
Provision for income
taxes 30,058 23,493 94,061 72,195
----------- ----------- ----------- -----------
Income before equity
in earnings of
unconsolidated
affiliates and
minority interest 52,590 37,855 154,819 115,325
Equity in earnings of
unconsolidated
affiliates, net of
income taxes 880 977 1,878 2,317
Minority interest, net
of income taxes (56) (143) (378) (189)
----------- ----------- ----------- -----------
Net income $ 53,414 $ 38,689 $ 156,319 $ 117,453
=========== =========== =========== ===========
Earnings per share:
Basic $ 0.73 $ 0.53 $ 2.14 $ 1.63
Diluted $ 0.72 $ 0.52 $ 2.10 $ 1.60
Basic weighted average
shares outstanding 73,181 72,019 73,134 70,747
Effect of dilutive
securities:
Class A Common Stock - 566 - 1,263
Stock options and
incentive
compensation awards 1,310 1,298 1,229 1,460
----------- ----------- ----------- -----------
Diluted weighted
average shares
outstanding 74,491 73,883 74,363 73,470
=========== =========== =========== ===========
OSHKOSH TRUCK CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
June 30, September 30,
2006 2005
------------- -------------
(Unaudited)
(In thousands)
ASSETS
Current assets:
Cash and cash equivalents $ 221,703 $ 127,507
Receivables, net 287,718 280,247
Inventories, net 543,569 489,997
Deferred income taxes 41,291 36,618
Other current assets 20,433 20,015
------------- -------------
Total current assets 1,114,714 954,384
Investments in unconsolidated affiliates 18,569 20,280
Property, plant and equipment 390,588 355,341
Less accumulated depreciation (177,217) (162,315)
------------- -------------
Property, plant and equipment, net 213,371 193,026
Goodwill, net 405,523 399,875
Purchased intangible assets, net 123,439 128,525
Other long-term assets 26,499 22,213
------------- -------------
Total assets $ 1,902,115 $ 1,718,303
============= =============
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Accounts payable $ 223,703 $ 226,768
Revolving credit facility and current
maturities of long-term debt 26,501 21,521
Customer advances 300,671 303,090
Floor plan notes payable 30,773 21,332
Payroll-related obligations 52,475 47,460
Income taxes payable 18,438 11,571
Accrued warranty 48,380 39,546
Deferred revenue 23,102 25,457
Other current liabilities 76,419 78,794
------------- -------------
Total current liabilities 800,462 775,539
Long-term debt 2,083 2,589
Deferred income taxes 51,030 55,443
Other long-term liabilities 63,592 62,917
Commitments and contingencies
Minority interest 3,671 3,145
Shareholders' equity 981,277 818,670
------------- -------------
Total liabilities and shareholders' equity $ 1,902,115 $ 1,718,303
============= =============
OSHKOSH TRUCK CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
Nine Months Ended
June 30,
---------------------------
2006 2005
------------- -------------
(In thousands)
Operating activities:
Net income $ 156,319 $ 117,453
Non-cash and other adjustments 24,005 26,446
Changes in operating assets and
liabilities (34,674) (42,206)
------------- -------------
Net cash provided by operating
activities 145,650 101,693
Investing activities:
Acquisition of businesses, net of cash
acquired - (31,302)
Additions to property, plant and
equipment (40,482) (21,716)
Proceeds from sale of assets 365 194
(Increase) decrease in other long-term
assets (996) 4,986
------------- -------------
Net cash used by investing activities (41,113) (47,838)
Financing activities:
Net borrowings (repayments) under
revolving credit facilities 3,750 (52,263)
Repayment of long-term debt (471) (603)
Proceeds from exercise of stock options 2,565 24,149
Excess tax benefits from stock-based
compensation 2,700 -
Dividends paid (19,682) (11,073)
------------- -------------
Net cash used by financing activities (11,138) (39,790)
Effect of exchange rate changes on cash 797 (1,084)
------------- -------------
Increase in cash and cash equivalents 94,196 12,981
Cash and cash equivalents at beginning of
period 127,507 30,081
------------- -------------
Cash and cash equivalents at end of period $ 221,703 $ 43,062
============= =============
Supplementary disclosure:
Depreciation and amortization $ 26,664 $ 23,490
OSHKOSH TRUCK CORPORATION
SEGMENT INFORMATION
(Unaudited)
Three Months Ended Nine Months Ended
June 30, June 30,
----------------------- -----------------------
2006 2005 2006 2005
----------- ----------- ----------- -----------
(In thousands)
Net sales to
unaffiliated
customers:
Fire and emergency $ 255,314 $ 222,670 $ 693,050 $ 630,051
Defense 291,366 280,985 988,664 706,095
Commercial 350,561 322,346 871,231 819,186
Intersegment
eliminations (9,322) (7,089) (29,910) (19,148)
----------- ----------- ----------- -----------
Consolidated $ 887,919 $ 818,912 $2,523,035 $2,136,184
=========== =========== =========== ===========
Operating income
(expense):
Fire and emergency $ 29,760 $ 23,132 $ 68,562 $ 60,580
Defense(1) 49,013 45,955 187,430 147,037
Commercial 25,388 7,212 49,024 19,295
Corporate and other (21,544) (13,328) (55,672) (33,684)
----------- ----------- ----------- -----------
Consolidated $ 82,617 $ 62,971 $ 249,344 $ 193,228
=========== =========== =========== ===========
Period-end backlog:
Fire and emergency $ 554,750 $ 520,982
Defense 1,054,696 1,163,137
Commercial 418,032 246,010
----------- -----------
Consolidated $2,027,478 $1,930,129
=========== ===========
(1) Includes the following cumulative life-to-date adjustments to
operating income due to an increase in margins on the Company's
MTVR base contract.
Three Months Ended Nine Months Ended
June 30, June 30,
----------------------- -----------------------
2006 2005 2006 2005
----------- ----------- ----------- -----------
(In thousands, except percentages)
Increase in operating
income $ - $ 2,100 $ - $ 24,700
Increase in margin
percentage - 0.2% - 2.5%
Margin percentage at
period-end - 10.1%
|
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion