Esterline Technologies Dips Following Q4 Results
Shares of Esterline Technologies (NYSE: ESL) are trading lower in the after-hours following the release of the company's Q4 earnings results. Currently, shares are bid $48.00, at $50.00; they ended the regular session lower by 3.89%, at $51.08.
The Esterline Technologies reported Q4 non-GAAP EPS of $0.62 on revenues of $502.4 million. The company noted that results for the fourth quarter include certain after-tax discrete items of $18.3 million, or $(0.59) per share.
Brad Lawrence, Esterline's Chief Executive Officer, said, "We are in the early innings of a commercial aerospace industry upcycle, and Esterline is in a strong position to benefit."
Lawrence said that although the company's fourth quarter and the outlook for next year reflect the anticipated softening of global defense markets and a number of discrete items, he emphasized that "...fiscal 2011 was one of the strongest years in our history and we expect to grow about 20% in fiscal 2012."
He added that Esterline generated about $190 million of cash in 2011 "... that will enable us to deploy capital in a variety of ways to support growth and enhance shareholder value."
Esterline Technologies Corporation is a manufacturing company serving aerospace and defense customers. The company designs, manufactures and markets engineered products and systems.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.