Esterline Reports 4Q Earnings of $15.2 Million, From Continuing OPS on Sales of $194.8 Million
By Michelle DeGrand on
BELLEVUE, Wash., Dec. 9, 2004 — Esterline Corporation (NYSE/ESL www.esterline.com), a leading specialty manufacturer serving aerospace/defense markets, today reported fourth quarter income from continuing operations of $15.2 million, or $.70 per diluted share, on sales of $194.8 million. The quarter’s results included a $2.2 million net of tax, or $.10 per share, gain on the sale of a non-core product line with in the company’s Sensors & Systems segment. In the same period last year, income from continuing operations was $9.4 million, or $.44 per diluted share, on $160.3 million sales. Orders received in the fourth quarter totaled $296.7 million, including $89 million of backlog from an acquisition completed in the quarter. This compared with orders of $140.0 million a year ago. Backlog at year end was $433.1 million compared with $300.9 million at the end of the prior-year period.