Curtiss-Wright sees improved profitability in 2011


Diversified aerospace and defense component maker Curtiss-Wright Corp’s quarterly results beat Wall Street expectations helped by demand in aerospace and naval markets, and the company gave full-year earnings largely above analysts’ estimates.

For 2011, the company said it sees earnings of US$2.48-US$2.58 per share on revenue of US$1.96-US$1.99 billion.

Analysts were expecting earnings of US$2.49 per share on revenue of US$1.94 billion, according to Thomson Reuters I/B/E/S.

The company said it expects improved profitability in 2011.
“In defense markets, we are expecting our Intelligence, Surveillance, and Reconnaissance-related content to continue to do well across various end markets,” Chief Executive Martin Benante said in a statement.

The company, which makes components used in aircraft, submarines and missiles, said the aerospace market continued to be positive and it expects oil and gas markets to trend higher with improving global economic conditions.

For the October-December period, the company earned 79 cents per share, compared with analysts’ estimates of 74 cents a share.

The Parsippany, New Jersey-based company’s shares, which have risen 10 percent since it reported third-quarter results in October, closed at $36 on Monday on the New York Stock Exchange.