Moog Inc. (MOG-A,MOG-B: Quote) posted a rise in second quarter profit to $35.42 million or $0.77 per share from $30.62 million or $0.66 per share a year ago.
On average, nine analysts polled by Thomson Reuters expected the company to report earnings of $0.75 per share. Analysts' estimates typically exclude special items.
Net sales rose to $624.97 million from $574.23 million in the prior-year quarter. Analysts expected revenues of $600.02 million.
John Scannell, CEO, said, "….We saw sales growth in all five of our segments, with the biggest increase in our Aircraft segment. In general, the defense business is holding its own, our industrial markets are healthy and our commercial aircraft business is powering ahead. With six months gone, fiscal 2012 is coming together nicely and we continue to forecast a 12% growth in earnings per share over our fiscal 2011 result."
The company has affirmed its guidance for the year 2012. Sales for the year will be $2.47 billion. Net earnings are now projected at $152 million and earnings per share at $3.31, an increase of 12% over the previous fiscal year. Analysts expect earnings of $3.33 per share, on revenues of $2.48 billion.
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by RTT Staff Writer
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