Oshkosh Corp. posted fiscal third-quarter net sales of $1.2 billion and a loss from continuing operations of $22 million, compared with net sales of $1.9 billion and income from continuing operations of $102 million for the third quarter of fiscal 2008, ended June 30, 2009. The parent company of leading aerial work platform manufacturer JLG Industries said that while its defense and fire and emergency segments delivered strong results in the quarter, demand for aerial work platforms continued soft.
“Our access equipment and commercial segments continued to experience extraordinarily weak demand as construction activity in most areas of the world remains soft,” said Robert Bohn, Oshkosh Corp. chairman and CEO. “Sales of aerial work platforms, telehandlers and concrete placement products were all down 75 percent or more, contributing to the loss from continuing operations for this quarter.”
Bohn said Oshkosh is continuing to aggressively focus on cost reductions, operational improvements and the “leaning” of factories.
Access equipment segment sales dropped 77 percent for the quarter to $211.2 million. Sales reflected lower global demand arising from recessionary economies and tight credit markets. Equipment sales for the North American, European, African and Middle East regions each declined about 85 percent year over year. The company cited higher raw material costs as a contributing factor in the decline, although it was in part offset by lower operating expenses as a result of cost-reduction initiatives.
JLG Industries is based in McConnellsburg, Pa.