UPDATE 3-Oshkosh raises profit outlook on strong first quarter

Fri Jan 25, 2013 1:46pm EST
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* Raises FY adj EPS forecast to $2.80-$3.05 from $2.35-$2.60

* First-quarter adj earnings per share $0.60 vs est $0.31

* Defense operating margins better than expected

* Access equipment sales up 15 pct

* Shares soar 17 percent to touch a 3-year high

By Bijoy Anandoth Koyitty

Jan 25 (Reuters) - Oshkosh Corp raised its full-year earnings outlook after its first-quarter profit handily beat analysts' expectations on higher revenue from access equipment products such as aerial work platforms and boom lifts.

Shares of the company rose 17 percent to a three-year high of $40.40 on Friday.

Oshkosh forecast adjusted earnings from continuing operations of $2.80 to $3.05 per share for the year ending September, and said an improving construction market would drive growth in the access equipment business in 2013.   Continued...