Oshkosh Truck Corp. said that first quarter net income increased 4.7% to $8.6 million, or 50 cents per share, on sales of $361 million for the quarter ended December 31, compared to net income of $8.2 million, or 48 cents per share, on sales of $283 million for last year's first quarter. First quarter results include a five cents per share gain related to a settlement of certain tax audits. Also, during the quarter, the company adopted the new financial accounting standard on accounting for goodwill and other intangible assets that eliminated amortization of goodwill and indefinite-lived assets in the first quarter of fiscal 2002 of $1.7 million ($1.6 million net of tax), or nine cents per share. If the new accounting standard had been adopted in the prior year, earnings per share would have been $0.57 in the first quarter of fiscal 2001. The company said sales increased 27.9% in the first quarter largely as a result of full rate production under the company's Medium Tactical Vehicle Replacement contract to supply medium payload trucks to the U.S. Marines and the acquisition of the Geesink Norba Group in the fourth quarter of fiscal 2001.