logo
  Join        Login             Stock Quote

Esterline Technologies (ESL) Posts Better-Than-Expected Q4 Earnings

 December 06, 2012 04:29 PM
 


(By Balaseshan) Esterline Technologies Corp. (NYSE: ESL), a manufacturing company serving aerospace and defense customers, reported better-than-expected fourth quarter earnings helped by strong growth across its business and lower cost of sales.

Earnings for the fourth quarter were $61.66 million or $1.97 per share, up from $19.44 million or $0.62 per share last year.

Sales grew to $530.66 million from $502.40 million.

Analysts, on average, polled by Thomson Reuters had expected profit of $1.60 per share on revenue of $523.70 million for the fourth quarter.

Sales from Avionics & Controls rose to $220.36 million from $209.92 million, while Sensors & Systems sales grew to $174.44 million from $163.77 million. Advanced Materials sales increased to $135.86 million from $128.71 million.

[Related -What The Market Wants: Did Bond Traders Blink First?]

Gross margin increased to 38.5% from 30.5% in the previous year quarter. The prior-year period included the effect of purchase accounting related to the Souriau acquisition that lowered gross margin performance in that period.

New orders increased 23% to $607 million. Backlog increased to $1.32 billion at October 26, 2012 from $1.25 billion at the end of the prior year.

Looking ahead into the fiscal 2013, the company projects earnings per share (EPS) of $5.45 to $5.80, while Street predicts $5.54, and currently expects organic sales growth of about 4%.

The full-year EPS range incorporates first quarter EPS in the range of $0.45 to $0.60. First quarter sales are expected to be in the range of $450 million to $480 million, while Street predicts $497.68 million. The first quarter results will also include the severance impact of selective workforce reductions related to the slowdown in defense activity at several operations.

[Related -Top Insider Buy Stocks: CLMS, CWST, ESL, GUID, NAV]

ESL closed Thursday's regular session up 1.98% at $60.65. The stock has been trading between $49.97 and $76.86 for the past 52 weeks.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageXerox Corp. (XRX): An Insider’s $500,000 Insider Buy

Last week was a healthy week of insider buying as 194 companies reported purchase records. The number read on...

article imageQihoo 360 Technology Co Ltd. (QIHU) Q2 Earnings Preview: A Green Monday

Qihoo 360 Technology Co Ltd. (NYSE:QIHU) will report its second quarter 2014 financial results on Monday, read on...

article imageSix Stocks that Could Outperform in the next 90 days

Earlier today, Goldman Sachs put out its list of the 50 stocks that Matter Most. It’s a list of the 50 read on...

article imageFoot Locker, Inc. (FL) Q2 Earnings Preview: Running Past the Street View

Foot Locker, Inc. (NYSE:FL) plans to report financial results for its second quarter ended August 2, 2014 read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.