Esterline Profit Falls; Cuts FY Guidance

(RTTNews) - Esterline Technologies Corp (ESL) on Thursday reported second-quarter net earnings of $19.8 million or $0.63 per share compared with $36.9 million or $1.14 per share last year.

Excluding items, adjusted earnings for the quarter were $1.20 per share.

Revenues for the quarter were $500.1 million compared with $510.9 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $1.33 per share on revenues of $534.7 million for the quarter. Analysts' estimates typically exclude special items.

For the 11-month fiscal year ending on October 2, 2015, the company now expects adjusted earnings of $4.55 to $4.80 per share on revenues of $1.83 billion to $1.88 billion. Earlier it expected earnings of $5.35 to $5.75 per share on revenues of $1.85 billion to $1.95 billion.

Esterline makes engineered products and systems primarily for aerospace and defense customers.