Robert G. Bohn, Chairman, President and CEO of Oshkosh Truck Corporation, discussed the company's strong third quarter fiscal year 2006 results and provided an outlook for fiscal years 2006 and 2007. Some highlights included record sales and operating income for Q3 2006. The company also announced two acquisitions, AK Specialty Vehicles and Iowa Mold Tooling, expected to be accretive to earnings in fiscal 2007. For fiscal 2006, Oshkosh estimates sales growth of 14.9-16.6% and EPS growth of 24-26%. Fiscal 2007 estimates include sales of $3.65-$3.75 billion and EPS of $3.05-$3.15.
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Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
where can I find a legit pi merchant onlineDOT TECH
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the telegram contact of my personal pi merchant to trade with
@Pi_vendor_247
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
1. Robert G. Bohn
Earnings Conference Call Chairman, President and Chief Executive Officer
Third Quarter Fiscal 2006 Charles L. Szews
August 1, 2006 Executive Vice President and Chief Financial Officer
2. Forward Looking Statements
Our remarks that follow, including answers to your questions and these slides, include
statements that we believe are “forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act. All of our statements, other than statements of historical fact,
including statements regarding Oshkosh Truck’s future financial position, business strategy,
targets, projected sales, costs, earnings, capital expenditures and debt levels, and plans and
objectives of management for future operations, are forward-looking statements. In addition,
forward-looking statements generally can be identified by the use of words such as “expect,”
“intend,” “estimates,” “anticipate,” “believe,” “should,” “plans,” or similar words. We cannot
give any assurance that such expectations will prove to be correct. Some factors that could cause
actual results to differ materially from our expectations include the accuracy of assumptions
made with respect to our expectations for fiscal 2006 and fiscal 2007, the Company’s ability to
continue the turnaround of the business of the Geesink Norba Group sufficiently to support its
valuation resulting in no non-cash impairment charge for Geesink Norba Group goodwill, the
Company’s ability to sustain flat operating income in its commercial segment and to raise
operating income in its fire & emergency segment in fiscal 2007 despite anticipated lower
industry demand resulting from changes to diesel engine emission standards effective
January 1, 2007, the expected level of U.S. Department of Defense procurement of the
Company’s products and services, the cyclical nature of the Company’s commercial and fire and
emergency markets, risks related to reductions in government expenditures, the uncertainty of
government contracts, the challenges of identifying, completing and integrating acquisitions, the
success of the launch of the Revolution® drum, and risks associated with international
operations. Additional information concerning these and other factors is contained in our filings
with the SEC, including our Form 8-K filed August 1, 2006. Except as set forth in such Form 8-K,
we disclaim any obligation to update such forward-looking statements.
2
3. Oshkosh Third Quarter 2006 Highlights
• Record Q3 financial results
Third Quarter Results
– Sales increased 8.4%
$1,000 $90
– Operating income grew 31.2% $82.6
$900 $80
Operating Income (in millions)
$63.0
– EPS increased 38.5% $800 $70
$887.9
– Exceeded previous estimates
Sales (in millions)
$700
$60
$49.2
$600
• Increased fiscal 2006 EPS $818.9 $50
$500
estimate range to $2.70 - $2.75 $599.8 $40
$400
• Net cash rose to $193.1 million $30
$300
$20
$200
• Initiated fiscal 2007 EPS estimate $10
$100
range of $3.05 - $3.15 $0 $0
2004 2005 2006
3
4. Acquisition of AK Specialty Vehicles
• $130 million manufacturer of
broadcast, homeland security and
medical truck bodies
• Provides important technology and
purchasing power in electronics/
broadcasting
• Growing global use of mobile MRI, CAT
and PET technologies
• Expected to be $0.05 accretive to
fiscal 2007
• To be reported in fire and emergency
segment
4
5. Acquisition of Iowa Mold Tooling
• $115 million manufacturer of
service vehicles and niche
articulated cranes
• Supports Oshkosh’s service
expansion strategy
• Serves growing mining sector
• Expected to be $0.05 accretive in
fiscal 2007
• To be reported in commercial
segment
5
6. Commercial
• Margin recovery continued
in Q3
• Orders remained strong
in North America
• Exceptional performance from
CON-E-CO batch plant business
– Should strengthen further in
2007
• Successfully implemented
second phase of ERP
installation in Q3
6
7. Defense
• New and remanufactured
truck business drove solid
results in Q3
• LVSR contract awarded
to OSK
• Submitted bid for Australian
Defence Forces contract in
July 2006
7
8. Fire and Emergency
• Sharply improved results
in Q3 as anticipated
– Pierce performed well
– Airport product sales
heavily weighted to
second half
• Two component issues in
Q2 resolved in Q3
• Strong fire apparatus
orders
• Looking forward to FRI fire
apparatus show in
September
8
9. Consolidated Results
Dollars in millions
Third Quarter Comments
2005
2006 • Commercial drove
Net Sales $887.9 $818.9 sharply improved
results!
% Growth 8.4% 36.5%
Operating Income $ 82.6 $ 63.0 • Fire and emergency
also reported strong
% Margin 9.3% 7.7%
results
% Growth 31.2% 28.1%
• Defense realized
Earnings Per Share $ 0.72 $ 0.52
steady growth
% Growth 38.5% 20.9%
9
10. Fire and Emergency
Dollars in millions
Third Quarter Comments
2005
2006 • Resolved component
issue sales delays
Net Sales $255.3 $222.7
• Improved airport
% Growth 14.7% 56.2%
product sales mix,
Operating Income $ 29.8 $ 23.1
as anticipated
% Margin 11.7% 10.4%
• Recent price increase
% Growth 28.7% 75.4% spurred orders
• Backlog up 6.5%
10
11. Defense
Dollars in millions
Comments
Third Quarter
2005
2006 • Remanufactured and
new truck sales drove
Net Sales $291.4 $281.0
results
% Growth 3.7% 47.1%
• Parts and service sales
Operating Income $ 49.0 $ 46.0 down due to delayed
% Margin 16.8% 16.4% Supplemental bill
% Growth 6.7% 35.4% • MTVR margin
adjustment of $2.1
million in Q3 of 2005
• Backlog down 9.3%
11
12. Commercial
Dollars in millions
Comments
Third Quarter
2005
2006 • Sales improved across
segment
Net Sales $350.6 $322.3
• Price increases
% Growth 8.8% 18.5%
benefiting earnings
Operating Income $ 25.4 $ 7.2
• European refuse
% Margin 7.2% 2.2% profitable in Q3; $5.1
million operating loss
% Growth 252.0% (46.0)%
in Q3 of 2005
• Backlog up 69.9%
12
13. Fiscal 2006 Estimates
Sales of $3.40 - $3.45 Billion, Up 14.9% - 16.6%
• Fire and emergency sales expected to rise by
mid-teens percentage
• Defense sales expected to grow 25.0% to 27.0%
• Commercial sales expected to rise by high
single digits percentage
13
14. Fiscal 2006 Estimates
Operating Income of $321.0 - $327.0 Million,
Up 20% to 22%
• Anticipate flat margins in fire and emergency
• Expect defense margins to decline about 200
basis points
– No MTVR margin adjustments expected in 2006
• Expect commercial margins to be 2.5X higher
– European refuse expected to be modestly profitable
– North American margins expected to be up
over 200 basis points
14
15. Fiscal 2006 Estimates
Other Estimates
(Dollars in millions)
Fiscal
2006
Estimates
Interest expense and other $0.5 (expense)
Effective tax rate 37.8%
Minority interest $0.5 (expense)
Equity in earnings $2.5
Average shares outstanding 74,500,000
15
16. Fiscal 2006 Estimates
• Annual EPS estimate range of $2.70 to $2.75,
up 24% to 26%
• Fourth quarter EPS estimate range of $0.60 to
$0.65 compared to $0.58 in fourth quarter of
fiscal 2005
16
17. Fiscal 2006 Estimates
• Capital spending expected to
approximate $64 million
• Estimated balances at
September 30,2006
– Debt of $100.0 - $110.0 million
– Cash of $15.0 - $20.0 million
17
18. Fiscal 2007 Estimates
Sales of $3.65 - $3.75 billion
• Fire and emergency sales, including AK Specialty,
expected to rise by mid-teens percentage
• Defense sales expected to grow by $100-$150 million
• Commercial sales, including Iowa Mold Tooling,
expected to decline slightly
18
19. Fiscal 2007 Estimates
Operating Income of $373.0 - $385.0 Million
• Anticipate fire and emergency margins to be
up about 50 basis points
• Expect flat margins in defense
• Expect commercial margins to improve about
150 basis points
19
20. Fiscal 2007 Estimates
Other Estimates
(Dollars in millions)
Fiscal
2007
Estimates
Interest expense and other $6.5 (expense)
Effective tax rate 37.0%
Minority interest $0.8 (expense)
Equity in earnings $1.8
Average shares outstanding 76,000,000
20
21. Fiscal 2007 Estimates
• Annual EPS estimate range of
$3.05 - $3.15
• Capital spending expected to Global Technology Center
approximate $65 million
• Estimated balances at
September 30, 2007
– Debt of about $40 million
– Cash of $90 - $110 million
21