Oshkosh Corporation announced consolidated earnings results for the first quarter ended December 31, 2012. For the quarter, the company reported net sales of $1,761.0 million compared with $,875.7 million for the same period a year ago. Operating income was $80.8 million compared with $75.4 million for the same period a year ago. Income from continuing operations, net of tax was $46.5 million compared with $39.4 million for the same period a year ago. Net income attributable to Oshkosh Corporation was $46.5 million or $0.51 per diluted share compared with $38.9 million or $0.42 per diluted share for the same period a year ago. Net cash provided by operating activities was $45.1 million compared with $61.9 million for the same period a year ago. Additions to property, plant and equipment was $8.3 million compared with $14.2 million for the same period a year ago. Additions to equipment held for rental was $1.1 million compared with $3.5 million for the same period a year ago. Non-GAAP operating income was $97.7 million compared with $79.2 million for the same period a year ago. Non-GAAP income from continuing operations attributable to Oshkosh Corporation, net of tax was $55.1 million or $0.60 per diluted share compared with $34.6 million or $0.39 per diluted share for the same period a year ago. GAAP income from continuing operations attributable to Oshkosh Corporation, net of tax was $46.2 million or $0.51 per diluted share compared with $38.9 million or $0.43 per diluted share for the same period a year ago.

As a result of its strong first fiscal quarter results, its outlook for the remainder of the year, the impact of share repurchases to date and benefits associated with the reinstatement of the U.S. research and development tax credit, the company is increasing its outlook range for full-year fiscal 2013 adjusted earnings from continuing operations to $2.80 - $3.05 per share. This estimate excludes $0.09 per share incurred in the first
quarter of fiscal 2013 as well as any future potential costs related to the tender offer for the company's common stock and threatened proxy contest, restructuring costs and discrete tax items. GAAP earnings per share attributable to Oshkosh Corporation from continuing operations-diluted was expected to be in the range of $2.71 to $2.96.