27 January 2014
Moog Inc. (NYSE: MOG.A) (NYSE: MOG.B) said its 2014 first quarter sales were USD643m, up four percent from a year ago, while net earnings were USD32m and earnings per share were USD.70, both lower compared to last year´s first quarter.
Results in the quarter included a charge of USD.12 per share for costs associated with the previously announced redemption of high yield notes and a USD.06 per share investment write down. Exclusive of those charges, adjusted earnings per share of USD.88 were up 17% from a year ago.
Aircraft segment sales, at USD265m, were up five percent from last year. Commercial aircraft sales increased 25% on strong OEM production which included USD56m in sales to Boeing and USD19m in sales to Airbus. Commercial aircraft aftermarket sales of USD29m were 8% higher.
Military aircraft sales were down eight percent to USD138m. OEM sales were off five percent due to lower V-22 production rates and slowing development program activity on the F-35 Joint Strike Fighter. Military aftermarket sales were 13% lower, at USD50m.
Moog is a worldwide designer, manufacturer, and integrator of precision control components and systems. Moog´s high-performance systems control military and commercial aircraft, satellites and space vehicles, launch vehicles, missiles, automated industrial machinery, wind energy, marine and medical equipment. Additional information about the company can be found at www.moog.com.