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|FOR IMMEDIATE RELEASE|
|Contact:||Brian D. Keogh|
ESTERLINE REPORTS RECORD PERFORMANCE FOR FISCAL 2010;
EARNINGS UP 23.2% ON 8.5% SALES IMPROVEMENT
Income from continuing operations $130 million, or $4.27 per share, on $1.53 billion sales
BELLEVUE, Wash., December 09, 2010 Esterline Corporation (NYSE: ESL www.esterline.com), a leading specialty manufacturer serving aerospace/defense markets, today reported fiscal 2010 fourth quarter and full-year results for the period ended October 29, 2010. Income from continuing operations for the quarter was a record $49.3 million, or $1.60 per diluted share, on sales of $430.5 million. For the same period last year, income from continuing operations was $37.4 million, or $1.24 per diluted share, on sales of $390.1 million. (Continuing operations exclude results from Esterlines Pressure Systems subsidiary, divested on September 8, 2010, and its Muirhead Aerospace subsidiary, divested on November 3, 2008.)
For the full year ended October 29, 2010, Esterline reported income from continuing operations of $130.0 million, or $4.27 per diluted share, on sales of $1.53 billion an 8.5% improvement over last year, nearly all organic. FY2009 income from continuing operations was $105.6 million, or $3.52 per diluted share, on $1.41 billion in sales.
Brad Lawrence, Esterline CEO, said the record performance reflects several areas of strength over last year, principally new and retrofit military cockpit programs, control panels for medical capital equipment, and operating efficiency with countermeasure flares. Lawrence said, Our Avionics & Controls business segment provided a significant boost for Esterline in FY2010. In this segment, demand for the new T-6B military trainer aircraft, as
The following information was filed by Esterline Technologies Corp (ESL) on Thursday, December 9, 2010 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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