Exhibit 99.1

 

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FOR IMMEDIATE RELEASE
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Investor Relations – John Hobbs

Media – Michelle DeGrand

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ESTERLINE REPORTS FISCAL 2017 FOURTH QUARTER AND FULL-YEAR FINANCIAL RESULTS

 

    Fiscal 2017 Fourth Quarter Results

 

    Sales of $531.5 million

 

    Earnings from continuing operations of $36.7 million, or $1.22 per diluted share

 

    Adjusted earnings from continuing operations of $38.1 million, or $1.27 per diluted share

 

    Fiscal 2017 Full Year Results

 

    Sales of $2.0 billion

 

    Earnings from continuing operations of $124.7 million, or $4.15 per diluted share

 

    Adjusted earnings from continuing operations of $131.0 million, or $4.36 per diluted share

 

    Free cash flow of $135.4 million, 115% of net income

 

    Company Issues Fiscal 2018 Guidance

BELLEVUE, Wash., November 9, 2017 – Esterline Corporation (NYSE:ESL) (www.esterline.com), a leading specialty manufacturer serving the global aerospace and defense markets, today reported results for the fiscal 2017 fourth quarter and full year ended September 29, 2017. In the fourth fiscal quarter of 2017, the company generated $531.5 million in revenue, compared with $543.8 million in the prior-year period. For the full fiscal year, revenue was $2.00 billion, compared with $1.99 billion for fiscal year 2016. Free cash flow for the twelve months ended September 29, 2017, was $135.4 million, an increase of 37% from the prior year.

“Fiscal 2017 was a year of progress in a number of initiatives as we improved operational efficiency in many of our operating units, finalized the integration of our advanced displays business, and exited our consent agreement with the U.S. Department of State in September,” said Curtis Reusser, Esterline’s Chief Executive Officer. “On slightly better sales activity in 2017, we grew operating earnings by 14% and expanded free cash flow by 37% compared with last year’s results. We also enhanced our balance sheet, reducing debt by approximately $94 million. This puts Esterline in a stronger position with excellent financial flexibility as we enter fiscal 2018.”

 

(more)


The following information was filed by Esterline Technologies Corp (ESL) on Thursday, November 9, 2017 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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