Business & GA, Commercial, Military

Esterline Sees Slow First Quarter, Expects Pick Up in 2015

By Juliet Van Wagenen | March 6, 2015
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[Avionics Today 03-06-2015] Esterline reported results for its first fiscal quarter, ended Jan. 30, a 13-week quarter in which sales totaled $446.3 million. Sales are down slightly when compared with results from the same quarter 2014, in which sales totaled $485.9 million.

First quarter fiscal 2015 results reflect several discrete charges and benefits, many of which Esterline's Chief Executive Officer Curtis Reusser notes are directly related to the company's efforts to streamline operations and build its core technology capabilities.

"We continued to make significant progress during the first quarter toward our vision of a more efficient, capable, and competitive business. We are also pleased to have completed the acquisition of Barco's aerospace, defense and training display businesses at the beginning of our second fiscal quarter,” said Reusser. As the company looks ahead, he expects Esterline to see “accelerated performance” over the rest of 2015.

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