Oshkosh, a manufacturer of specialty vehicles, has reported net sales of $2.06bn for the fiscal fourth quarter ended 30 September 2012, a decrease of 2.3%, compared to $2.11bn for the same period in 2011.

For the fourth quarter of 2012, the company posted a gross income of $258m, compared to $217m for the comparable period in 2011.

Consolidated operating income for the quarter was $96.2m, or 4.7% of sales, compared to $77.1m, or 3.7% of sales, for the same period last year.

The company reported a net income of $78.9m for the quarter compared to $38m for the corresponding period in 2011.

For the fiscal year ended 30 September 2012 the company reported consolidated net sales of $8.18bn, while income from continuing operations was $230.5m.

Oshkosh Corporation chief executive officer Charles Szews said that the results exceeded the company's initial expectations for the year, which evidences the effectiveness of its MOVE strategy in driving results.

"The Company also generated $215 million of free cash flow in fiscal 2012 to strengthen its balance sheet," Szews said.

"This performance reflects the actions and commitment of all our dedicated employees, management and Board to deliver value for all shareholders."