Oshkosh Corp. said Thursday it posted a narrower third-quarter loss amid continued weak demand for construction equipment.

Oshkosh said it lost $26.6 million, or 36 cents a share, compared with a loss of $84.3 million, or $1.12, in the same quarter a year ago.

The company reported a loss from continuing operations of $22 million, or 30 cents a share, vs. a profit from continuing operations of $102 million, or $1.36, a year earlier.

Revenue declined 36%, to $1.23 billion from $1.92 billion, on lower sales of aerial work platforms and concrete placement equipment.

Analysts surveyed by Thomson Reuters expected a loss of 18 cents a share on revenue of $1.38 billion. Analyst estimates typically do not include one-time gains or charges.

"Oshkosh continues to aggressively focus on cost reductions, operational improvements. . . . We expect to emerge from this recession as a stronger, more nimble and more competitive company," Robert Bohn, chairman and CEO, said in a conference call.

During the quarter, Oshkosh won a $1.1 billion Army contract to build new off-road trucks for ground forces in Afghanistan. The company's military truck sales increased almost 24% to $605 million, as the defense division continued to benefit from rebuilding vehicles damaged in the war in Iraq.

Sales in the fire and emergency vehicle division increased 6.5% to nearly $300 million.

Sales of aerial work platforms, telehandlers and concrete placement products were down 75% or more, contributing to the quarterly loss.

"Our defense, fire and emergency segments delivered strong results for the quarter, while our access equipment and commercial segments continued to experience extraordinarily weak demand as construction activity in most areas of the world remains soft," Bohn said.

Oshkosh shares closed at $26.31, down 55 cents.

Oshkosh Corp.

3rd quarter %

06/30 2009 2008 change

Sales $1,226.2 $1,920.1 -36%

Net income -26.6 -84.3 na

EPS (diluted) -0.36 -1.12 na

9 months

Sales $3,808.3 $5,082.3 -25

Net income -1,239.1 25.6 na

EPS (diluted) -16.65 0.34 na

Figures in millions except for earnings per share. Percentages are based on unrounded sales and income figures.

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