Defense – Defense segment sales decreased 21.1 percent to $828.7 million for the first quarter of fiscal 2013 compared with the prior year first quarter. The decrease in sales was primarily due to expected lower M-ATV and related aftermarket parts shipments, offset in part by higher Family of Heavy Tactical Vehicles and Family of Medium Tactical Vehicles unit sales.In the first quarter of fiscal 2013, defense segment operating income decreased 34.1 percent to $60.9 million, or 7.4 percent of sales, compared to prior year first quarter operating income of $92.4 million, or 8.8 percent of sales. The decrease in operating income was largely due to lower sales volumes, offset in part by favorable adjustments on the definitization of domestic contracts and warranty matters.
Oshkosh Corporation Reports Fiscal 2013 First Quarter Results
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