OSHKOSH, Wis. (AP) -- Specialty vehicle manufacturer Oshkosh Corp. said Thursday it earned almost $170 million in its first quarter in contrast to a loss a year ago, citing strong sales of all-terrain military vehicles for troops in Afghanistan.
The profit reflected a big increase in defense sales, which more than tripled to $1.86 billion. Oshkosh supplied the U.S. military with more than 2,300 MRAP All-Terrain Vehicles after speeding up production in the fourth quarter of fiscal year 2009.
The company also saw sales increase for heavy tactical vehicles and independent suspension systems for mine resistant ambush vehicles.
The company, based in Oshkosh, Wis., designs and makes commercial, military, and fire and emergency vehicles.
For the quarter ended Dec. 31, its earnings amounted to $169.6 million, or $1.87 per share, versus a loss of $20.6 million, or 28 cents per share, a year ago.
Sales climbed 83 percent to $2.43 billion from $1.33 billion.
Without one-time items, the company said it earned $2.10 per share.
Analysts polled by Thomson Reuters expected earnings of $1 per share on revenue of $2.23 billion. Analysts usually exclude one-time items from their predictions.
Shares rose 86 cents, or 2.4 percent, to $36.85 in afternoon trading. They are near the higher end of their 52-week range of $4.74 to $41.99.
