Curtiss-Wright’s 1Q sales rise 30 percent

Industrial Distribution staff -- Industrial Distribution, 4/25/2008 8:13:00 AM

Curtiss-Wright Corp. posted sales of $433.4 million, up 30.3 percent compared with $332.6 million during the same period last year.

Net earnings for the Roseland, N.J.-based flow and motion control products manufacturer rose 11.7 percent to $21.8 million, compared with $19.5 million during the first quarter of 2007.

“Our improved operating income performance in the first quarter was led by our flow control segment, which experienced a 40 percent increase in operating income, of which 12 percent was organic, as compared to the prior year. From a market perspective, sales in our commercial markets grew 44 percent, led by strong organic sales growth of 30 percent in the commercial power market and 12 percent in the oil and gas market,” chairman and CEO Martin Benante said.

Curtiss-Wright said it expects sales of up to $1.85 billion for the full year.

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