AviTrader sponsorship ad

Moog reports year-end earnings up 18% per share

Moog announced net earnings of $119 million and earnings per share of $2.75, an increase of 18% over last year. Sales for the year of $1.903 billion were up $345 million or 22% over the previous year. Sales increases were very strong in all five of the Company’s reporting segments.

Fourth quarter net earnings increased 18% over last year to $31.7 million. Earnings per share for the quarter were 73 cents, 18% higher than last year. Total sales for the quarter of $491 million were up 19%.

In the Aircraft segment, sales for the year were up 15% to $673 million. The sales increase was mostly in military aircraft where revenues were $402 million. The sales increase was driven by accelerating production work on the V-22 Osprey rotorcraft, increased development activity on the F-35 Joint Strike Fighter and strong military aftermarket sales.

Commercial aircraft sales for the year of $271 million were up 4%. The increase was in sales to business jet manufacturers, principally Gulfstream, Bombardier, and Hawker Beechcraft. The company recently announced that it is supplying the entire flight control system for the new Gulfstream G250. Sales to Boeing Commercial were $76 million for the year, down from last year and the commercial aftermarket revenues came in 6% below last year.

For the fourth quarter, Aircraft sales of $176 million were up 10%. It was a strong quarter in sales on the F-35 and the V-22. The military aftermarket had record sales of $39 million. On the commercial side, the only growth was in business jets as a result of increased production on the Hawker 4000 and the Challenger 300.

In the Space and Defense segment, sales of $253 million were up 37% for the year. Moog’s traditional products in this segment are controls for satellites, launch vehicles, and strategic and tactical missiles, and these products provided the solid base of sales. The growth in the year was provided by the Constellation program and two acquisitions. Constellation, which is the Space Shuttle replacement program, generated $24 million in sales in the year. The QuickSet acquisition through its Driver Vision Enhancer program added $33 million in sales of mechanisms for MRAP vehicles. The CSA acquisition came late in the year and added another $6 million in sales.

Fourth quarter Space and Defense sales were $62 million, up 35% from a year ago. In the quarter, the growth was also driven by the Constellation program and the two recent acquisitions.

Moog’s Industrial Systems segment had sales for the year of $532 million, a 22% increase. Three markets – motion simulators, metal-forming presses and steel mill equipment led the charge for the fiscal year with growth percentages ranging from 33% to 56%. These three markets provided total sales of $174 million. In addition, plastics controls grew to $77 million. Power generation was up to $50 million.

The fourth quarter was also strong in the Industrial segment. Sales of $136 million were up 23%. Once again, the strongest growth in the quarter was in motion simulators, metal-forming machines and steel mill equipment.

In the Components Group, sales for the year were up in every product category. The total at $341 million was up 20%. Growth in the aircraft market came on the Guardian System, which protects aircraft from shoulder- fired missiles and on the Multi-Spectral Targeting System used on the Predator Unmanned Air Vehicle. Deliveries of slip ring systems continued to be strong for the Abrams Tank, the Bradley Fighting Vehicle, and the Stryker Mobile Gun System. Marine sales of $46 million were up 53%, reflecting increased oil exploration.

Fourth quarter Components Groups sales were $90 million, up 23% from the year previous. Products for military aircraft, space and defense equipment, and the marine market were all particularly strong in the quarter.

For the year, the Medical Devices segment generated sales of $103 million. The total included pump sales of $38 million, sales of administration sets at $35 million and $30 million in sales of sensors, hand pieces and other associated equipment.

For the quarter, sales in Medical Devices of $26 million were up 11% from a year ago. In the quarter, higher sales reflected an increase in administration sets, sensor sales and cataract hand pieces.

Year-end consolidated backlog of $862 million was up $87 million or 11% from a year ago.

The Company updated its guidance for fiscal 2009. Fiscal ’09 sales are now forecast in a range of $1.995 billion to $2.035 billion. Net earnings are forecast in the range between $132 million and $136 million. The midrange net earnings of $134 million would generate earnings per share of $3.08, a 12% increase over the $2.75 reported for fiscal ’08.

“Fiscal ’08 was another great year for our Company,” said R. T. Brady, Chairman and CEO. “This was our fourteenth consecutive year of growth in earnings per share. This year the increase was 18%. We achieved these results while making substantial investments in R&D particularly in our aircraft business. We were helped by big increases in the Constellation program and strong markets for our Industrial products and for the Components Group. The QuickSet acquisition was a big contributor through its Driver Vision Enhancer program. During our third quarter, we expanded our credit availability and we entered the current tight credit market with over $500 million of cash and available credit facilities. We expect to encounter a challenging economic period in fiscal ’09, but our product portfolio provides us with a very strong hand to play. Our aerospace and defense business will not be affected and we believe that our medical devices and many of our industrial products will experience very little recessionary impact. We’re optimistic that fiscal ’09 will be the fifteenth year of growth in earnings per share.”

Monday April 22, 2024
Embraer has delivered 25 jets in the first quarter of 2024 (1Q24), marking a substantial increase of 67% compared to the 15 aircraft delivered in 1Q23. Notably, Executive Aviation witnessed robust delivery growth, soaring from eight to 18 jets during the same ... Read More »
Monday April 22, 2024
WestJet has purchased the first SAF supplied in Canada by Shell Aviation © Shutterstock
WestJet has achieved a significant milestone in its mission to attain net-zero emissions by 2050 with the procurement of the first sustainable aviation fuel (SAF) supplied in Canada by Shell Aviation. This achievement underscores WestJet’s commitment to ... Read More »
Monday April 22, 2024
Munich Airport
In the first quarter of 2024, Munich Airport maintained its trajectory for growth despite numerous strikes, with nearly eight million travellers counted from January to March. This marks an increase of about one million passengers, or approximately 14%, compar... Read More »
Monday April 22, 2024
Alaska-Horizon Embraer E175 aircraft © Embraer
Alaska Air Group has reported a net loss for the first quarter of 2024 (under generally accepted accounting principles, GAAP) of US$132 million, compared to a net loss of US$142 million for the first quarter of 2023. The reported net loss for the first quarter... Read More »
Monday April 22, 2024
ANZ has selected Wellington and Marlborough airports as the ports for its all-electric aircraft © Air New Zealand
Air New Zealand has revealed Wellington and Marlborough airports as the designated ports for its inaugural all-electric aircraft. Late last year, Air New Zealand unveiled the acquisition of its premier next-generation aircraft, the all-electric ALIA CTOL from ... Read More »
Monday April 22, 2024
Spirit Central, Spirit Airlines' new corporate campus at Dania Pointe in Dania Beach, Florida
On April 18, Spirit Airlines has marked the grand opening of Spirit Central, its new corporate campus at Dania Pointe in Dania Beach, Florida. The expansive campus, sprawling over 11 acres, comprises four edifices, including a support centre housing offices, a... Read More »
Friday April 19, 2024
© Safran
To commemorate its 25th anniversary, Safran Aircraft Engines Services Morocco (SAESM), a collaboration between Safran Aircraft Engines and Royal Air Maroc, have unveiled the expansion of its Nouaceur plant near Casablanca’s Mohammed V International Airport. ... Read More »
Friday April 19, 2024
Among other transactions during the quarter SkyWorks negotiated the extension of the lease for an A319-100 aircraft leased to Bangkok Airways
SkyWorks Holdings hasndisclosed the transactions and engagements conducted during the first quarter of 2024 across its Leasing & Asset Management and Investment Banking & Advisory Groups. Under the Leasing & Asset Management Group, SkyWorks facilit... Read More »
Friday April 19, 2024
H145 Jupiter HT1 at RAF Shawbury
The UK Ministry of Defence has placed an order for an additional six Airbus H145 helicopters, marking the next phase in the modernisation of its rotary fleet and streamlining the variety of helicopter types in operation. The new aircraft will primarily serve e... Read More »
Friday April 19, 2024
Aerospace and defence company Israel Aerospace Industries (IAI), has joined Sharp Technics K (STK) and Incheon International Airport Corporation in a ceremony marking the laying of the cornerstone for a joint Boeing 777 passenger-to-freight conversion facility... Read More »
Friday April 19, 2024
Signing of the MoU between Austrian Industrial Cooperation & Aviation Technology (AICAT) and Embraer © Embraer
Embraer has signed a memorandum of understanding (MoU) with AICAT (Austrian Industrial Cooperation & Aviation Technology) aimed at enhancing international cooperation in the aerospace sector. The cooperation aims to strengthen ties with the main aerospace ... Read More »
Friday April 19, 2024
NJE is expanding its charter footprint with NSW service
National Jet Express (NJE), a member of the Rex Group, has announced the commencement of weekly charter services between Brisbane and Orange in New South Wales for mining and civil contractor SEE Civil. These services mark NJE’s eighth destination on the Eas... Read More »
Friday April 19, 2024
SCAT Airlines takes off with AMOS © Swiss-AS
Swiss-AS has released that SCAT Airlines, one of Kazakhstan’s leading carriers, has successfully launched AMOS. This significant achievement signifies the conclusion of an extensive transition period, facilitating the seamless integration and operation o... Read More »
Thursday April 18, 2024
Caroline Vandedrinck, SVP Business Development at SR Technics
At this year’s MRO Americas in Chicago, AviTrader had the opportunity to talk to Caroline Vandedrinck, SVP Business Dev. at SR Technics, about Engines and a Diverse Workforce : SR Technics recently inducted its 5,500th engine into the engine shop in Zuri... Read More »
Thursday April 18, 2024
AEGEAN Airbus A321neo aircraft © AEGEAN
AEGEAN has announced its strategic decision to invest in an extended-range and upgraded cabin quality version of the Airbus A321neo, creating a dedicated “special purpose” sub-fleet initially comprising four aircraft. These specially configured A32... Read More »
Thursday April 18, 2024
KLM aircraft at Schiphol Airport ©
GE Aerospace, Software as a Service, has announced that KLM Group Airlines (KLM Group), comprising KLM Royal Dutch Airlines, KLM Cityhopper and Martinair, has enlisted its Fuel Insight software to enhance fuel efficiency, lower CO2 emissions and consolidate ar... Read More »
Thursday April 18, 2024
Narita International Airport © Collins Aerospace
Collins Aerospace has been chosen to deploy systems aimed at improving the passenger experience through streamlined processing and self-service kiosks at Narita International Airport Corporation (NAA), Japan. NAA has opted for ARINC cMUSE, the airport’s comm... Read More »
Thursday April 18, 2024
Czech Airlines Technics
Czech Airlines Technics (CSAT), a subsidiary of Prague Airport, has achieved financial success for the first time since 2019. This positive outcome is attributed to the gradual restoration of operations across all sectors, increased service volume and optimal ... Read More »
Thursday April 18, 2024
Rendering of eVTOL aircraft in AirX livery © Eve
Eve Air Mobility (Eve) has signed a letter of intent with AirX Inc., Japan’s largest public helicopter air charter service, for up to ten firm and up to 40 optional electric vertical take-off and landing (eVTOL) aircraft. The order will support the continued... Read More »
Thursday April 18, 2024
Jack Karapetyan
Ontic, a licensor and manufacturer of complex engineered parts for the aerospace and defence industries, has named Jack Karapetyan as Vice President and General Manager of Global MRO Operations. This appointment marks a significant new direction for Ontic̵... Read More »
MRO Americas 2024

2023 MEDIA KIT

Aviation Media Pack

Learn more on how AviTrader can expand your market

Please contact

Tamar Jorssen
Vice President Sales & Marketing
+1.778.213.8543
[email protected]
Mailing Address
AviTrader Publications Corp.
Suite 305, South Tower
5811 Cooney Road
Richmond, BC V6X 3M1
Canada

Subscribe to the most widely accepted news source in the aviation industry!


Free Daily, Weekly and MRO Publications delivered to your Inbox!
News Alerts, Editorials, Marketplace, Executive Interviews +more

Select publications:

*we respect your privacy and AviTrader will not share your email address to any 3rd Parties.

Scroll to Top
AviTrader

FREE
VIEW