2 June 2014
Esterline Corp. (NYSE: ESL) said it has reported fiscal 2014 second quarter (ended May 2nd) earnings from continuing operations of USD37.2m, or USD1.15 per diluted share, on sales of USD529.6m.
Excluding charges associated with the company´s previously announced integration activities and incremental compliance costs, adjusted earnings from continuing operations were USD41.5m, or USD1.28 per diluted share.
Curtis Reusser, Esterline´s chief executive officer, said, “We´re executing well, progressing on our restructuring initiatives, and seeing good trends in our order book, making us increasingly confident that we will achieve our full-year expectations.”
In the second fiscal quarter of 2014, sales increased 6.0 percent — 3.1 percent organically — to USD529.6m, compared with USD499.6m in the prior-year period. This growth reflects continued strength in commercial markets and revenue contributions from investments in key strategic programs, partially offset by lower sales for certain defense products.
Esterline Technologies Corp. designs, manufactures, and markets engineered products and systems primarily for aerospace and defense customers in the United States and internationally. The company was founded in 1967 and is headquartered in Bellevue, Washington. Its website is at http://www.esterline.com.