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Oshkosh Corp

Oshkosh Corp

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DOW JONES NEWSWIRES Military-vehicles maker Force Protection Inc.

(FRPT), whose joint venture with General Dynamics Corp.

(GD) failed to land a $1.06 billion pact to build armored patrol trucks for U.S.

troops in Afghanistan, expects "relatively soft" operating profit for the second quarter but a "stronger" rest of the year.

Force Protection shares tumbled 31% premarket to $6.10 on losing out the contract to Oshkosh Corp.

(OSK), whose stock surged 30% to $18.95.

Force Protection Chief Executive Michael Moody said "our business planning and ability to continue to generate growth and value for our shareholders was not dependent upon winning" the contract.

Oshkosh, a maker of fire trucks and other specialty trucks, will initially build 2,244 all-terrain trucks but the order could eventually top 5,000.

In the just-concluded second quarter, Force Protection said earnings will be "relatively soft" because of costs related to the contract as well as the timing of vehicle and other product shipments.

Analysts surveyed by Thomson Reuters were for per-share earnings to rise to 14 cents a share.

-By Mike Barris, Dow Jones Newswires; 212-416-2330; [email protected]
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