“Our record earnings were balanced throughout our business segments, with each generating double digit sales and operating income growth,” said Chairman, President and CEO Robert Bohn. “The highlights of our sales performance were the strength of shipments at Pierce, increased medium defense truck production, large international sales of aircraft rescue and fire fighting vehicles and continuing strength in concrete placement markets.”
Sales in its commercial segment were up 11.7% to $219.2 million; operating income increased 10.5% to $18.4 million. Fire and emergency equipment sales increased 24% to $103.5 million; operating income was up 16.9% to $9.5 million. Sales in the defense segment rose 37.2% to $69.4 million, operating income increased 74.4% to $7.3 million.
For the first fiscal nine months, Oshkosh posted net income of $35.3 million, up 68% from the first nine months of 1999. Sales were $966 million compared to $851 million last year.