Exhibit 99.1

 

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FOR IMMEDIATE RELEASE
Contact:   Julie Albrecht
  +1 425-453-9400

ESTERLINE REPORTS FISCAL 2016 FOURTH QUARTER AND FULL-YEAR FINANCIAL RESULTS

 

    Sales of $543.8 million in the fiscal fourth quarter

 

    Earnings from continuing operations of $52.0 million in the fiscal fourth quarter; adjusted earnings from continuing operations of $58.2 million

 

    GAAP earnings per diluted share from continuing operations of $1.75 in the fiscal fourth quarter; adjusted earnings per share of $1.96

 

    Fiscal 2016 full-year GAAP earnings per diluted share from continuing operations of $3.93, adjusted earnings per diluted share of $4.86

 

    Company issues fiscal 2017 guidance

BELLEVUE, Wash., November 10, 2016 – Esterline Corporation (NYSE:ESL) (www.esterline.com), a leading specialty manufacturer serving the global aerospace and defense markets, today reported results for the 2016 fiscal fourth quarter and full year ended September 30, 2016. The company generated consolidated revenue of $543.8 million in the fiscal fourth quarter, which was flat compared with the prior-year recast period. The Avionics & Controls segment had strong commercial aerospace and defense sales in the fiscal fourth quarter of 2016, which were offset by a sales decrease in Advanced Materials primarily related to a previously reported temporary plant shutdown. The results for our fiscal 2015 fourth quarter and fiscal year have been recast to the three months and twelve months ended October 2, 2015, respectively, in order to provide meaningful comparisons to prior-year periods.

Curtis Reusser, Esterline’s Chief Executive Officer, said, “We finished fiscal 2016 on a high note driven by strong volume and improved margins. We are pleased with the operational milestones reached during the year, including completion of the two remaining accelerated integration projects and substantial progress on our E3 initiatives. I am excited to enter a new fiscal year with a clear focus on execution, supported by solid order rates and backlog.”

 

(more)


The following information was filed by Esterline Technologies Corp (ESL) on Thursday, November 10, 2016 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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