Oshkosh Corp., a leading manufacturer of specialty vehicles and vehicle bodies and parent company of JLG Industries, the world’s leading aerial work platform manufacturer, posted fiscal fourth-quarter net sales of $1.49 billion and income from continuing operations of $52.4 million, compared with net sales of $1.85 billion and income from continuing operations of $62.4 million for the previous quarter.
Excluding non-cash intangible asset impairment charges for the fiscal year ended Sept. 30, Oshkosh reported income from continuing operations of $3.8 million on sales of $5.3 billion compared with income from continuing operations for fiscal 208 of $287.5 million on sales of $6.94 billion.
Access equipment segment sales dropped 58.2 percent to $310.5 million for the fiscal fourth quarter. Sales reflected substantially lower global demand arising from recessionary economies and tight credit markets. Fourth-quarter fiscal 2009 sales included $87 million of intercompany M-ATV-related sales to the defense segment. Sales of new access equipment in North America and Europe, Africa and Middle East each declined about 80 percent compared to the same quarter in 2008.
Oshkosh Corp. is based in Oshkosh, Wis. JLG Industries is based in McConnellsburg, Pa.