Date: October 26, 2012
Source: Oshkosh Corp.
Fiscal 2012 Adjusted EPS of
Operating Income Margins Improved in All Segments in Fourth Quarter
Results for the fourth quarter of fiscal 2012 included pre-tax restructuring
related charges of
Consolidated net sales in the fourth quarter of fiscal 2012 were
Consolidated operating income in the fourth quarter of fiscal 2012 was
“We’re pleased to report fiscal 2012 adjusted results of
“Concrete mixer orders accelerated in the fourth quarter. We believe this is a strong sign that a housing recovery has commenced, which further supports our long-term outlook for our non-defense segments.
“At our analyst day on
Factors affecting fourth quarter results for the Company’s business segments included:
Access Equipment – Access equipment segment sales to external customers
increased 15.6 percent to
In the fourth quarter of fiscal 2012, access equipment segment operating income
increased 70.9 percent to
Defense – Defense segment sales decreased 18.6 percent to
In the fourth quarter of fiscal 2012, defense segment operating income decreased
12.6 percent to
Fire & Emergency – Fire & emergency segment sales for the fourth
quarter of fiscal 2012 increased 14.3 percent from the prior year quarter to
The fire & emergency segment reported operating income of $0.9 million,
or 0.4 percent of sales, for the fourth quarter of fiscal 2012 compared to an
operating loss of
Commercial – Commercial segment sales increased 34.2 percent to
The commercial segment reported operating income of
Corporate – Corporate operating expenses increased
Interest Expense Net of Interest Income – Interest expense net of interest
income decreased $0.8 million to
Provision for Income Taxes – The Company recorded income tax expense
of $0.5 million in the fourth quarter of fiscal 2012, or 0.6 percent of pre-tax
income, compared to 32.3 percent of pre-tax income in the prior year quarter.
The current year quarter included
Share Repurchases – During the fourth quarter of fiscal 2012, the Company
repurchased 546,965 shares of its Common Stock at a cost of
Full-Year Results
The Company reported consolidated net sales for the fiscal year ended
Fiscal 2013 Expectations
At this time, the Company is reaffirming the outlook for fiscal 2013 earnings
from continuing operations of
Conference Call
The Company will comment on fourth quarter earnings and its fiscal 2013 outlook
during a conference call at
Non-GAAP Financial Measures
The Company reports its financial results in accordance with generally accepted
accounting principles (GAAP) in
| Three Months Ended | Fiscal Year Ended | |||||||||||||||
| September 30, | September 30, | |||||||||||||||
| 2012 | 2011 | 2012 | 2011 | |||||||||||||
|
Access equipment segment |
||||||||||||||||
| Non-GAAP operating income | $ | 60.0 | $ | 33.9 | $ | 228.9 | $ | 67.0 | ||||||||
| Restructuring-related charges | (0.5 | ) | 0.9 | 0.3 | (1.7 | ) | ||||||||||
| GAAP operating income | $ | 59.5 | $ | 34.8 | $ | 229.2 | $ | 65.3 | ||||||||
|
Defense segment |
||||||||||||||||
| Non-GAAP operating income | $ | 62.5 | $ | 74.1 | $ | 237.0 | $ | 546.7 | ||||||||
| Restructuring-related charges | - | (3.1 | ) | - | (3.7 | ) | ||||||||||
| Curtailment expense | (0.5 | ) | - | (0.5 | ) | - | ||||||||||
| GAAP operating income | $ | 62.0 | $ | 71.0 | $ | 236.5 | $ | 543.0 | ||||||||
|
Fire & emergency segment |
||||||||||||||||
| Non-GAAP operating income | $ | 13.0 | $ | 2.8 | $ | 7.9 | $ | 13.3 | ||||||||
| Restructuring-related charges | (10.1 | ) | (6.1 | ) | (18.8 | ) | (12.4 | ) | ||||||||
| Curtailment expense | (2.0 | ) | - | (2.0 | ) | - | ||||||||||
| Long-lived asset impairment charges | - | (2.0 | ) | - | (2.0 | ) | ||||||||||
| GAAP operating income (loss) | $ | 0.9 | $ | (5.3 | ) | $ | (12.9 | ) | $ | (1.1 | ) | |||||
|
Commercial segment |
||||||||||||||||
| Non-GAAP operating income | $ | 9.2 | $ | 2.6 | $ | 32.2 | $ | 4.3 | ||||||||
| Restructuring-related charges | - | - | (0.1 | ) | (0.4 | ) | ||||||||||
| GAAP operating income | $ | 9.2 | $ | 2.6 | $ | 32.1 | $ | 3.9 | ||||||||
|
Corporate |
||||||||||||||||
| Non-GAAP operating expenses | $ | (34.4 | ) | $ | (25.9 | ) | $ | (104.6 | ) | $ | (107.1 | ) | ||||
| Proxy contest costs | (0.2 | ) | - | (6.6 | ) | - | ||||||||||
| Curtailment expense | (0.9 | ) | - | (0.9 | ) | - | ||||||||||
| GAAP operating expenses | $ | (35.5 | ) | $ | (25.9 | ) | $ | (112.1 | ) | $ | (107.1 | ) | ||||
|
Consolidated |
||||||||||||||||
| Non-GAAP operating income | $ | 110.4 | $ | 87.4 | $ | 401.6 | $ | 528.2 | ||||||||
| Restructuring-related charges | (10.6 | ) | (8.3 | ) | (18.6 | ) | (18.2 | ) | ||||||||
| Curtailment expense | (3.4 | ) | - | (3.4 | ) | - | ||||||||||
| Proxy contest costs | (0.2 | ) | - | (6.6 | ) | - | ||||||||||
| Long-lived asset impairment charges | - | (2.0 | ) | - | (2.0 | ) | ||||||||||
| GAAP operating income | $ | 96.2 | $ | 77.1 | $ | 373.0 | $ | 508.0 | ||||||||
| Three Months Ended | Fiscal Year Ended | |||||||||||||||
| September 30, | September 30, | |||||||||||||||
| 2012 | 2011 | 2012 | 2011 | |||||||||||||
|
Consolidated |
||||||||||||||||
| Non-GAAP provision for income taxes | $ | 32.1 | $ | 24.4 | $ | 115.0 | $ | 163.5 | ||||||||
| Income tax benefit associated with pre-tax charges | (5.1 | ) | (3.7 | ) | (10.3 | ) | (7.3 | ) | ||||||||
| Discrete tax benefits | (26.5 | ) | (1.4 | ) | (40.3 | ) | (11.1 | ) | ||||||||
| GAAP provision for income taxes | $ | 0.5 | $ | 19.3 | $ | 64.4 | $ | 145.1 | ||||||||
| Non-GAAP income from continuing operations | ||||||||||||||||
| attributable to Oshkosh Corporation, net of tax | $ | 60.2 | $ | 45.5 | $ | 208.5 | $ | 280.8 | ||||||||
| Restructuring-related charges, net of tax | (6.8 | ) | (5.3 | ) | (11.9 | ) | (11.6 | ) | ||||||||
| Curtailment expense, net of tax | (2.2 | ) | - | (2.2 | ) | - | ||||||||||
| Proxy contest costs, net of tax | (0.1 | ) | - | (4.2 | ) | - | ||||||||||
| Long-lived asset impairment charges, net of tax | - | (1.3 | ) | - | (1.3 | ) | ||||||||||
| Discrete tax benefits | 26.5 | 1.4 | 40.3 | 11.1 | ||||||||||||
| GAAP income from continuing operations | ||||||||||||||||
| attributable to Oshkosh Corporation, net of tax | $ | 77.6 | $ | 40.3 | $ | 230.5 | $ | 279.0 | ||||||||
| Non-GAAP earnings per share attributable to Oshkosh | ||||||||||||||||
| Corporation from continuing operations-diluted | $ | 0.65 | $ | 0.50 | $ | 2.27 | $ | 3.07 | ||||||||
| Restructuring-related charges, net of tax | (0.07 | ) | (0.06 | ) | (0.13 | ) | (0.13 | ) | ||||||||
| Curtailment expense, net of tax | (0.02 | ) | - | (0.02 | ) | - | ||||||||||
| Proxy contest costs, net of tax | - | - | (0.05 | ) | - | |||||||||||
| Long-lived asset impairment charges, net of tax | - | (0.01 | ) | - | (0.01 | ) | ||||||||||
| Discrete tax benefits | 0.29 | 0.01 | 0.44 | 0.12 | ||||||||||||
| GAAP earnings per share attributable to Oshkosh | ||||||||||||||||
| Corporation from continuing operations-diluted | $ | 0.85 | $ | 0.44 | $ | 2.51 | $ | 3.05 | ||||||||
| Net cash flows provided by operating activities | $ | 268.3 | ||||||||||||||
| Additions to property, plant and equipment | (55.9 | ) | ||||||||||||||
| Additions to equipment held for rental | (8.4 | ) | ||||||||||||||
| Proceeds from sale of property, plant and equipment | 7.6 | |||||||||||||||
| Proceeds from sale of equipment held for rental | 3.7 | |||||||||||||||
| Free cash flow | $ | 215.3 | ||||||||||||||
Forward-Looking Statements
This press release contains statements that the Company believes to be “forward-looking
statements” within the meaning of the Private Securities Litigation Reform Act
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
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, which could cause actual results to
differ materially from those expressed or implied by such forward-looking statements.
These factors include the cyclical nature of the Company’s access equipment,
commercial and fire & emergency markets, especially in the current environment
where there are conflicting signs regarding the future global economic outlook;
the expected level and timing of the
IMPORTANT INFORMATION FOR INVESTORS AND SHAREHOLDERS
This communication does not constitute an offer to buy or solicitation of
an offer to sell any securities. In response to the tender offer for the shares
of the Company commenced by
ADDITIONAL INFORMATION AND WHERE TO FIND IT
The Company, its directors and certain of its executive officers and employees
may be deemed to be participants in the solicitation of proxies from shareholders
in connection with the Company’s 2013 Annual Meeting of Shareholders (the “2013
Annual Meeting”). The Company plans to file a proxy statement with the
Shareholders will be able to obtain, free of charge, copies of the 2013 Proxy
Statement and any other documents (including the WHITE proxy card) filed by
the Company with the
About
®, TM All brand names referred to in this news release are trademarks
of
| OSHKOSH CORPORATION | |||||||||||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF INCOME | |||||||||||||||||
| (Unaudited; in millions, except per share amounts) | |||||||||||||||||
| Three Months Ended | Fiscal Year Ended | ||||||||||||||||
| September 30, | September 30, | ||||||||||||||||
| 2012 | 2011 | 2012 | 2011 | ||||||||||||||
| Net sales | $ | 2,061.8 | $ | 2,110.0 | $ | 8,180.9 | $ | 7,567.5 | |||||||||
| Cost of sales | 1,803.8 | 1,892.6 | 7,189.9 | 6,489.2 | |||||||||||||
| Gross income | 258.0 | 217.4 | 991.0 | 1,078.3 | |||||||||||||
| Operating expenses: | |||||||||||||||||
| Selling, general and administrative | 147.5 | 123.4 | 560.3 | 509.0 | |||||||||||||
| Amortization of purchased intangibles | 14.3 | 14.9 | 57.7 | 59.3 | |||||||||||||
| Intangible asset impairment charges | - | 2.0 | - | 2.0 | |||||||||||||
| Total operating expenses | 161.8 | 140.3 | 618.0 | 570.3 | |||||||||||||
| Operating income | 96.2 | 77.1 | 373.0 | 508.0 | |||||||||||||
| Other income (expense): | |||||||||||||||||
| Interest expense | (18.7 | ) | (21.3 | ) | (76.0 | ) | (90.7 | ) | |||||||||
| Interest income | 0.3 | 2.1 | 1.9 | 4.7 | |||||||||||||
| Miscellaneous, net | (0.1 | ) | 2.0 | (5.2 | ) | 1.6 | |||||||||||
| Income from continuing operations before | |||||||||||||||||
| income taxes and equity in earnings | |||||||||||||||||
| of unconsolidated affiliates | 77.7 | 59.9 | 293.7 | 423.6 | |||||||||||||
| Provision for income taxes | 0.5 | 19.3 | 64.4 | 145.1 | |||||||||||||
| Income from continuing operations before | |||||||||||||||||
| equity in earnings of unconsolidated affiliates | 77.2 | 40.6 | 229.3 | 278.5 | |||||||||||||
| Equity in earnings of unconsolidated affiliates | 0.4 | 0.2 | 2.3 | 0.5 | |||||||||||||
| Income from continuing operations, net of tax | 77.6 | 40.8 | 231.6 | 279.0 | |||||||||||||
| Income (loss) on discontinued operations, net of tax | 1.3 | (2.8 | ) | 0.3 | (5.6 | ) | |||||||||||
| Net income | 78.9 | 38.0 | 231.9 | 273.4 | |||||||||||||
| Net income attributable to the noncontrolling | |||||||||||||||||
| interest | - | (0.5 | ) | (1.1 | ) | - | |||||||||||
| Net income attributable to Oshkosh Corporation | $ | 78.9 | $ | 37.5 | $ | 230.8 | $ | 273.4 | |||||||||
| OSHKOSH CORPORATION | |||||||||||||||
| EARNINGS (LOSS) PER SHARE | |||||||||||||||
| (Unaudited) | |||||||||||||||
| Three Months Ended | Fiscal Year Ended | ||||||||||||||
| September 30, | September 30, | ||||||||||||||
| 2012 | 2011 | 2012 | 2011 | ||||||||||||
| Amounts attributable to Oshkosh Corporation | |||||||||||||||
| common shareholders, net of tax (in millions): | |||||||||||||||
| Income from continuing operations | $ | 77.6 | $ | 40.3 | $ | 230.5 | $ | 279.0 | |||||||
| Income (loss) on discontinued operations | 1.3 | (2.8 | ) | 0.3 | (5.6 | ) | |||||||||
| $ | 78.9 | $ | 37.5 | $ | 230.8 | $ | 273.4 | ||||||||
| Earnings (loss) per share attributable to Oshkosh | |||||||||||||||
| Corporation common shareholders-basic | |||||||||||||||
| Continuing operations | $ | 0.85 | $ | 0.44 | $ | 2.53 | $ | 3.07 | |||||||
| Discontinued operations | 0.01 | (0.03 | ) | - | (0.06 | ) | |||||||||
| $ | 0.86 | $ | 0.41 | $ | 2.53 | $ | 3.01 | ||||||||
| Earnings (loss) per share attributable to Oshkosh | |||||||||||||||
| Corporation common shareholders-diluted | |||||||||||||||
| Continuing operations | $ | 0.85 | $ | 0.44 | $ | 2.51 | $ | 3.05 | |||||||
| Discontinued operations | 0.01 | (0.03 | ) | - | (0.06 | ) | |||||||||
| $ | 0.86 | $ | 0.41 | $ | 2.51 | $ | 2.99 | ||||||||
| Basic weighted average shares outstanding | 91,280,380 | 91,087,624 | 91,330,635 | 90,888,253 | |||||||||||
| Effect of dilutive stock options and other | |||||||||||||||
| equity-based compensation awards | 693,068 | 553,333 | 613,739 | 685,107 | |||||||||||
| Diluted weighted average shares outstanding | 91,973,448 | 91,640,957 | 91,944,374 | 91,573,360 | |||||||||||
|
OSHKOSH CORPORATION |
||||||||||
| CONDENSED CONSOLIDATED BALANCE SHEETS | ||||||||||
| (Unaudited; in millions) | ||||||||||
| September 30, | ||||||||||
| 2012 | 2011 | |||||||||
| ASSETS | ||||||||||
| Current assets: | ||||||||||
| Cash and cash equivalents | $ | 540.7 | $ | 428.5 | ||||||
| Receivables, net | 1,018.6 | 1,089.1 | ||||||||
| Inventories, net | 937.5 | 786.8 | ||||||||
| Deferred income taxes | 69.9 | 72.9 | ||||||||
| Refundable income taxes | 91.7 | 48.9 | ||||||||
| Other current assets | 29.8 | 28.4 | ||||||||
| Total current assets | 2,688.2 | 2,454.6 | ||||||||
| Investment in unconsolidated affiliates | 18.8 | 31.8 | ||||||||
| Property, plant and equipment: | ||||||||||
| Property, plant and equipment | 856.5 | 834.5 | ||||||||
| Accumulated depreciation | (486.6 | ) | (445.8 | ) | ||||||
| Property, plant and equipment, net | 369.9 | 388.7 | ||||||||
| Goodwill | 1,033.8 | 1,041.5 | ||||||||
| Purchased intangible assets, net | 775.4 | 838.7 | ||||||||
| Other long-term assets | 55.4 | 71.6 | ||||||||
| Total assets | $ | 4,941.5 | $ | 4,826.9 | ||||||
| LIABILITIES AND EQUITY | ||||||||||
| Current liabilities: | ||||||||||
| Revolving credit facility and current maturities | ||||||||||
| of long-term debt | $ | - | $ | 40.1 | ||||||
| Accounts payable | 683.3 | 768.9 | ||||||||
| Customer advances | 510.4 | 468.6 | ||||||||
| Payroll-related obligations | 130.1 | 110.7 | ||||||||
| Accrued warranty | 95.0 | 75.0 | ||||||||
| Deferred revenue | 113.0 | 38.4 | ||||||||
| Other current liabilities | 172.7 | 190.1 | ||||||||
| Total current liabilities | 1,704.5 | 1,691.8 | ||||||||
| Long-term debt, less current maturities | 955.0 | 1,020.0 | ||||||||
| Deferred income taxes | 129.6 | 171.3 | ||||||||
| Other long-term liabilities | 305.2 | 347.2 | ||||||||
| Commitments and contingencies | ||||||||||
| Equity: | ||||||||||
| Oshkosh Corporation shareholders' equity | 1,847.2 | 1,596.5 | ||||||||
| Noncontrolling interest | - | 0.1 | ||||||||
| Total equity | 1,847.2 | 1,596.6 | ||||||||
| Total liabilities and equity | $ | 4,941.5 | $ | 4,826.9 | ||||||
| OSHKOSH CORPORATION | ||||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | ||||||||||
| (Unaudited; in millions) | ||||||||||
| Fiscal Year Ended | ||||||||||
| September 30, | ||||||||||
| 2012 | 2011 | |||||||||
| Operating activities: | ||||||||||
| Net income | $ | 231.9 | $ | 273.4 | ||||||
| Intangible asset impairment charges | - | 4.8 | ||||||||
| Loss on sale of discontinued operations, net of tax | 4.4 | - | ||||||||
| Depreciation and amortization | 130.9 | 144.4 | ||||||||
| Stock-based compensation expense | 11.5 | 15.5 | ||||||||
| Deferred income taxes | (59.6 | ) | 10.0 | |||||||
| Dividends from equity method investees | 6.5 | - | ||||||||
| Foreign currency transaction (gains) losses | (1.2 | ) | 6.9 | |||||||
| Other non-cash adjustments | (3.8 | ) | (4.6 | ) | ||||||
| Changes in operating assets and liabilities | (52.3 | ) | (62.7 | ) | ||||||
| Net cash provided by operating activities | 268.3 | 387.7 | ||||||||
| Investing activities: | ||||||||||
| Additions to property, plant and equipment | (55.9 | ) | (82.3 | ) | ||||||
| Additions to equipment held for rental | (8.4 | ) | (3.9 | ) | ||||||
| Proceeds from sale of property, plant and equipment | 7.6 | 1.5 | ||||||||
| Proceeds from sale of equipment held for rental | 3.7 | 20.2 | ||||||||
| Proceeds from sale of equity method investments | 8.7 | - | ||||||||
| Other investing activities | 2.5 | (3.8 | ) | |||||||
| Net cash used by investing activities | (41.8 | ) | (68.3 | ) | ||||||
| Financing activities: | ||||||||||
| Repayment of long-term debt | (105.1 | ) | (91.4 | ) | ||||||
| Net repayments under revolving credit facility | - | (150.0 | ) | |||||||
| Repurchase of common stock |
(13.3 |
) | - | |||||||
| Proceeds from the exercise of stock options | 3.6 | 8.0 | ||||||||
| Other financing activities |
(2.5 |
) | 1.9 | |||||||
| Net cash used by financing activities | (117.3 | ) | (231.5 | ) | ||||||
| Effect of exchange rate changes on cash | 3.0 | 1.6 | ||||||||
| Increase in cash and cash equivalents | 112.2 | 89.5 | ||||||||
| Cash and cash equivalents at beginning of period | 428.5 | 339.0 | ||||||||
| Cash and cash equivalents at end of period | $ | 540.7 | $ | 428.5 | ||||||
| OSHKOSH CORPORATION | ||||||||||||||||||||||
| SEGMENT INFORMATION | ||||||||||||||||||||||
| (Unaudited; in millions) | ||||||||||||||||||||||
| Three Months Ended | Three Months Ended | |||||||||||||||||||||
| September 30, 2012 | September 30, 2011 | |||||||||||||||||||||
| External | Inter- | Net | External | Inter- | Net | |||||||||||||||||
| Customers | segment | Sales | Customers | segment | Sales | |||||||||||||||||
| Access equipment | ||||||||||||||||||||||
| Aerial work platforms | $ | 330.4 | $ | - | $ | 330.4 | $ | 325.6 | $ | - | $ | 325.6 | ||||||||||
| Telehandlers | 248.9 | - | 248.9 | 169.1 | - | 169.1 | ||||||||||||||||
| Other | 136.7 | 0.8 | 137.5 | 124.9 | 53.9 | 178.8 | ||||||||||||||||
| Total access equipment | 716.0 | 0.8 | 716.8 | 619.6 | 53.9 | 673.5 | ||||||||||||||||
| Defense | 952.9 | 0.8 | 953.7 | 1,171.0 | 1.2 | 1,172.2 | ||||||||||||||||
| Fire & emergency | 217.5 | 11.4 | 228.9 | 196.1 | 4.1 | 200.2 | ||||||||||||||||
| Commercial | ||||||||||||||||||||||
| Concrete placement | 65.1 | - | 65.1 | 46.3 | - | 46.3 | ||||||||||||||||
| Refuse collection | 84.3 | - | 84.3 | 55.4 | - | 55.4 | ||||||||||||||||
| Other | 26.0 | 6.1 | 32.1 | 21.6 | 11.9 | 33.5 | ||||||||||||||||
| Total commercial | 175.4 | 6.1 | 181.5 | 123.3 | 11.9 | 135.2 | ||||||||||||||||
| Intersegment eliminations | - | (19.1 | ) | (19.1 | ) | - | (71.1 | ) | (71.1 | ) | ||||||||||||
| Consolidated | $ | 2,061.8 | $ | - | $ | 2,061.8 | $ | 2,110.0 | $ | - | $ | 2,110.0 | ||||||||||
| Fiscal Year Ended | Fiscal Year Ended | |||||||||||||||||||||
| September 30, 2012 | September 30, 2011 | |||||||||||||||||||||
| External | Inter- | Net | External | Inter- | Net | |||||||||||||||||
| Customers | segment | Sales | Customers | segment | Sales | |||||||||||||||||
| Access equipment | ||||||||||||||||||||||
| Aerial work platforms | $ | 1,390.2 | $ | - | $ | 1,390.2 | $ | 961.6 | $ | - | $ | 961.6 | ||||||||||
| Telehandlers | 892.3 | - | 892.3 | 527.9 | - | 527.9 | ||||||||||||||||
| Other | 511.9 | 125.1 | 637.0 | 454.6 | 108.0 | 562.6 | ||||||||||||||||
| Total access equipment | 2,794.4 | 125.1 | 2,919.5 | 1,944.1 | 108.0 | 2,052.1 | ||||||||||||||||
| Defense | 3,947.5 | 3.0 | 3,950.5 | 4,359.9 | 5.3 | 4,365.2 | ||||||||||||||||
| Fire & emergency | 769.4 | 39.0 | 808.4 | 765.1 | 18.0 | 783.1 | ||||||||||||||||
| Commercial | ||||||||||||||||||||||
| Concrete placement | 231.9 | - | 231.9 | 169.6 | - | 169.6 | ||||||||||||||||
| Refuse collection | 336.8 | - | 336.8 | 249.6 | - | 249.6 | ||||||||||||||||
| Other | 100.9 | 27.4 | 128.3 | 79.2 | 66.5 | 145.7 | ||||||||||||||||
| Total commercial | 669.6 | 27.4 | 697.0 | 498.4 | 66.5 | 564.9 | ||||||||||||||||
| Intersegment eliminations | - | (194.5 | ) | (194.5 | ) | - | (197.8 | ) | (197.8 | ) | ||||||||||||
| Consolidated | $ | 8,180.9 | $ | - | $ | 8,180.9 | $ | 7,567.5 | $ | - | $ | 7,567.5 | ||||||||||
| OSHKOSH CORPORATION | |||||||||||||||||
| SEGMENT INFORMATION | |||||||||||||||||
| (Unaudited; in millions) | |||||||||||||||||
| Three Months Ended | Fiscal Year Ended | ||||||||||||||||
| September 30, | September 30, | ||||||||||||||||
| 2012 | 2011 | 2012 | 2011 | ||||||||||||||
| Operating income (loss): | |||||||||||||||||
| Access equipment | $ | 59.5 | $ | 34.8 | $ | 229.2 | $ | 65.3 | |||||||||
| Defense | 62.0 | 71.0 | 236.5 | 543.0 | |||||||||||||
| Fire & emergency | 0.9 | (5.3 | ) | (12.9 | ) | (1.1 | ) | ||||||||||
| Commercial | 9.2 | 2.6 | 32.1 | 3.9 | |||||||||||||
| Corporate | (35.5 | ) | (25.9 | ) | (112.1 | ) | (107.1 | ) | |||||||||
| Intersegment eliminations | 0.1 | (0.1 | ) | 0.2 | 4.0 | ||||||||||||
| Consolidated | $ | 96.2 | $ | 77.1 | $ | 373.0 | $ | 508.0 | |||||||||
| September 30, | |||||||||||||||||
| 2012 | 2011 | ||||||||||||||||
| Period-end backlog: | |||||||||||||||||
| Access equipment | $ | 361.1 | $ | 729.2 | |||||||||||||
| Defense | 3,051.7 | 5,130.2 | |||||||||||||||
| Fire & emergency | 477.6 | 479.0 | |||||||||||||||
| Commercial | 155.8 | 140.0 | |||||||||||||||
| Consolidated | $ | 4,046.2 | $ | 6,478.4 | |||||||||||||
1 This press release refers to GAAP (U.S. generally accepted accounting
principles) and non-GAAP financial measures.
For more information, contact:
Oshkosh Corporation
Financial:
Patrick Davidson, 920.966.5939
Vice
President, Investor Relations
or
Media:
John Daggett,
920.233.9247
Vice President, Communications
Sign up to receive our free Weekly News Bulletin