Replies to post #535 on Oshkosh Truck Corporation (OSK)

[Investorman]

They suspended the dividend. I don't know what they will do for the next quarter - the company has not announced anything yet.

[Investorman]

Oshkosh announces public offering of 13M shares


Vehicle maker Oshkosh Corp. said Wednesday it has started a public offering of 13 million shares.

The Oshkosh, Wis.-based company also said it plans to grant the underwriters of the offering an option for 30 days to buy up to 1.95 million additional shares to cover possible over-allotments.

Oshkosh said it plans to use the net proceeds of the offering to repay loans under a credit agreement.

BofA Merrill Lynch, JPMorgan and Goldman, Sachs & Co. are the joint book-running managers for the offering.

The company currently has roughly 74.4 million shares outstanding.

Shares of Oshkosh fell $1.03, or 3.4 percent, to $29.39 in after-hours trading. During the regular session, the stock dropped $1.80, or 5.6 percent, to close at $30.42.

[Investorman]

The FMTV program is a five-year, multibillion-dollar contract award for the production of an estimated 23,000 vehicles and trailers for the Army. Oshkosh Defense is the only current manufacturer of medium and heavy tactical wheeled vehicles in the U.S. defense industry, having produced more than 67,000 military class vehicles in its manufacturing facilities. The company’s use of an advanced integrated assembly line has allowed for the simultaneous production of up to 10 vehicle models with 29 variations.

[Investorman]

Keep counting.....

Shares of Oshkosh jump on defense unit contract
August 27, 2009 11:07 AM ET

OSHKOSH, Wis. (AP) - Shares of vehicle maker Oshkosh Corp. leaped Thursday after its defense unit said it was awarded a five-year contract by the U.S. Army Tank-automotive and Armaments Command Life Cycle Management Command to engineer and build tactical vehicles.

The contract's first delivery order is valued at $280.9 million for the production and delivery of 2,568 trucks and trailers.

The contract calls for the total production of up to 23,000 vehicles and trailers as well as support services and engineering. The Army's family of medium tactical vehicles is a series of up to 23 vehicles and 17 different models.

Initial test vehicle deliveries are planned for mid-2010, followed by production vehicle deliveries later in the year.

Oshkosh shares surged $4.16, or 15.1 percent, to $31.72 in morning trading.