Curtiss-Wright Q3 Profit Down; Updates FY Outlook

(RTTNews) - Curtiss-Wright Corp. (CW) reported that its net earnings for the third quarter ended September 30, 2014 declined to $25.03 million or $0.51 per share from $36.36 million or $0.76 per share in the year ago quarter.

Sales of $559 million in the third quarter increased $47 million, or 9%, compared to the prior year period, driven by a solid combination of organic growth and acquisitions.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.88 per share and revenues of $644.47 million for the quarter. Analysts' estimates typically exclude special items.

For fiscal 2014, the company now expects earnings per share from continuing operations to be in the range of $3.40-$3.50. The company said in July that it expected earnings per share to be between $3.50 - $3.60 for fiscal 2014.

Annual total sales are expected to be in the range of $2.25 billion - $2.30 billion, compared to prior estimate of $2.57 billion to $2.62 billion.

Wall Street currently is looking for fiscal year 2014 earnings of $3.59 per share on annual revenues of $2.62 billion.