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Hard Times In Appleton

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  • grc063
    replied
    Perhaps your title should be "Hard Times In the Apparatus Industry"

    Leave a comment:


  • sven73
    started a topic Hard Times In Appleton

    Hard Times In Appleton

    From Ohskosh's latest report-


    Fire & Emergency - Fire & emergency segment sales for the first quarter of fiscal 2011 decreased 10.5 percent to $201.5 million compared with the prior year quarter. The decrease in sales primarily reflected lower shipments of fire fighting apparatus due to soft domestic demand attributable to weak municipal spending in the U.S.

    Operating income decreased 87.9 percent in the first quarter of fiscal 2011 to $2.6 million, or 1.3 percent of sales, compared with the prior year quarter operating income, excluding impairment charges1, of $21.3 million, or 9.4 percent of sales. Operating income during the first quarter was impacted by lower sales volume and the related absorption impact and pricing of international sales. Including impairment charges of $23.3 million in the first quarter of fiscal 2010, the fire & emergency segment reported an operating loss of $2.0 million.

    In October 2010 and January 2011, the Company commenced the closure of Oshkosh Specialty Vehicles and Medtec Ambulance facilities, respectively, and consolidation of these businesses into existing facilities in Florida. The Company also implemented workforce reductions throughout the first fiscal quarter and in January 2011 in other businesses in the fire & emergency segment. The Company recorded charges totaling $0.7 million in its first quarter for these closures and workforce reductions and expects to record additional charges of approximately $5 million for these activities in upcoming quarters.

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