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Moog Reports 14% Increase in Earnings Per Share
Date:1/25/2008

EAST AURORA, N.Y., Jan. 25 /PRNewswire-FirstCall/ -- Moog Inc. (NYSE: MOG.A and MOG.B) today announced first quarter earnings of $27.7 million and earnings per share of $.64, up 14% from the $.56 of last year's first quarter. Sales of $446 million were up 25% from the year previous. The growth in sales included $33 million of revenue from recent acquisitions.

Aircraft segment sales of $160 million were up by 22%. Growth came in both military and commercial programs. Military aircraft sales of $91 million were up 14% from last year. Revenue on the F-35 program was higher due to increased development effort on the short take-off and carrier airplane variants. Ongoing production programs generated $5 million of additional sales and the aftermarket was up by over $2 million to $27 million.

Commercial aircraft sales of $69 million were up 34%. Sales to Boeing Commercial were higher, driven by increased revenue on the new 787 Dreamliner. Business jet sales doubled to $16 million as the Hawker 4000 and the Challenger 300 move into production.

Space and Defense sales of $57 million were up 31%. This quarter had the benefit of a resurgence in commercial satellite business and growing revenues on the Constellation program, which will replace the Space Shuttle system. In addition, the Company's recent acquisition of QuickSet International provided big increases in revenue in Defense Controls and Homeland Defense.

The Industrial segment had another excellent quarter with sales of $123 million, up 20% from a year ago. The Industrial segment has a strong international presence and generates 75% of its revenues outside the US. Sales increased dramatically in some of the Company's target markets. Sales of steel mill equipment were up by 52%. Sales of motion bases for flight- training simulators increased by 42%. Controls for metal-forming equipment achieved an all-time high at $12 million and sales in the Company's largest industrial market, contr
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SOURCE Moog Inc.
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