Woodward Dives Following Q1 Earnings Release

Shares of Woodward

are trading lower in the after-hours following the release of the company's Q1 earnings results. Currently, shares are bid $39.51, at $41.45; they ended the regular session lower by 0.64%, at $43.20. Woodward reported Q4 EPS of $0.40 on revenues of $407.9 million; the Street was looking for $0.45 per share. Revenues increased 12% year over year. "Our sales and earnings growth this quarter, coupled with our order volume for the remainder of the year, supports our full year expectations," said Thomas A. Gendron, Chairman and Chief Executive Officer. "Our fiscal 2012 outlook remains unchanged from our November outlook and reflects growth in excess of our underlying markets primarily as a result of market share gains and the launch of key platforms," said Mr. Gendron. "We still anticipate modest growth in our markets in 2012, despite continued uncertainty in the overall economy. We continue to expect our sales to be between $1.85 billion and $1.95 billion and earnings per share to be between $2.20 and $2.35 per share for fiscal 2012." Woodward, Inc., formerly Woodward Governor Company, is a designer, manufacturer and service provider of energy control and optimization solutions.