Moog Reports Earnings per Share up 10%

Moog Inc. (NYSE: MOG.A] (NYSE: MOG.B] today announced first quarter sales of $601 million, up 8% from a year ago. Net earnings were $36.4 million and earnings per share were $.80 up 10% from last year's first quarter. Aircraft segment sales of $231 million were up 18% from last year with strong results in both military and commercial markets. Military aircraft sales were up 19%, to $143 million driven by the F-35 Joint Strike Fighter program and foreign military sales. Military aftermarket sales of $49 million were up 4%. Commercial aircraft sales of $88 million were 16% higher than a year ago. OEM production revenues were up for both Airbus and Boeing. Commercial aircraft aftermarket sales, at $26 million, were unchanged. Business jet sales were $5 million higher, or 57%, as new business jet programs transition to production. Space and Defense sales at $88 million were down 8% than a year ago. Sales in the space market, including launch vehicle and NASA sales, were up by $10 million, partially offsetting a decrease in Driver's Vision Enhancer systems during the quarter. Industrial Systems sales of $158 million were up 10% from a year ago. Sales of simulation and test systems were $32 million, up 25%, while industrial automation sales were up 8%. Sales of controls for wind turbines were 5% higher at $32 million. Components Group sales of $88 million were up 2% in the quarter. Industrial sales were 18% higher, partly reflecting the acquisition of Animatics. Medical components sales were 20% higher.