Esterline Reports 1Q Results From Continuing Operations; Income $9.8 Million, or $.40 Per Share, on $190.2 Million Sales
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BELLEVUE, Wash., Feb. 24, 2005 — Esterline Technologies ( NYSE/ESL www.esterline.com), a leading specialty manufacturer serving aerospace/defense markets, today reported fiscal 2005 first quarter (ended January 28) income from continuing operations of $9.8 million, or $.40 per diluted share, on $190.2 million sales. These results do not include $7.4 million, or $.30 per share, from the gain on the sale of the company’s Fluid Regulators subsidiary, accounted for as a discontinued operation. Including this divestiture, net earnings were $17.2 million, or $.70 per diluted share. Year-ago income from continuing operations was $1.6 million, or $.08 per share, on sales of $129.5 million. The prior year’s comparable net earnings were $1.9 million, or $.09 per diluted share.