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Curtiss-Wright Flow Control Reports Third Quarter Results

Thursday, October 28, 2010  
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Curtiss-Wright Flow Control sales for the third quarter of 2010 were $249 million, an increase of $11 million, or 5%, over the prior year period. Acquisitions and foreign currency translation had a minimal impact on the third quarter of 2010. The sales increase was mainly driven by strong double-digit growth in their naval defense market, which had strong increases in the Virginia class submarine program as they ramped up procurement from one to two submarines per year.

Operating income in the third quarter of 2010 was $26 million, an increase of $4 million, or 17%, over the comparable prior year period. Acquisitions and foreign currency translation had a minimal impact on third quarter operating income. Operating margin was 10.4%, an increase of 100 basis points over the prior year period. This significant improvement was due to improved absorption of fixed overhead costs and benefits generated by cost reduction and restructuring programs. More…


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