Esterline Technologies Corporation (ESL: Quote), a known engineering products maker for defense and aerospace customers, reported last Thursday that their overall profit rises for the year’s third quarter. Revenues significantly increased and expenses greatly dropped. However, overall earnings for the year’s quarter estimates were missed, while revenues basically trumped expectations.
Bellevue, Esterline’s Washington-based profit statistics for the year’s third-quarter inched up a few up to $38.9 million valued at $1.19 per share while previous stats of last year $38.2 million valued at $1.20 per share. Overall profit rises were also noticed at adjusted earnings from the company’s current continuing operations during the quarter of this year were recorded at $44.9 million with a value of Esterline $1.38 per share. The polled Thomson Reuters analysts also reported that in the quarter of this year the company’s overall average expected earnings will be $1.40 per share. The Analysts typically exclude other special items in their estimates.
Overall net sales of the company the year’s quarter increased to 11.1%, amounting to $531.1 million, significantly higher from last year’s $478.1 million. Analysts had agreed that revenue estimate for this year’s quarter is $516.57 million. The company’s revenue record grew across all the three segments. The gross margin of the company for the year’s third quarter decreased to 34.4%, lower than last year’s 37.4%. SG&A overall expense, decreased to 17.9% from last year’s 21.3%. New orders highly affected overall profit rises in the year’s third quarter because it increased to 15.4%, amounting to $534.4.