Esterline revenue off 2% YoY

Esterline Corporation (NYSE: ESL) reported its third quarter 2015 consolidated revenue was USD496.2 million, a decline of 2.0 percent compared with the year-ago period of USD506.3 million.

Foreign currency impacts were offset by sales from the Defense, Aerospace, and Training display business (DAT) acquired from Barco N.V. in the second quarter of fiscal 2015. Excluding these items, organic sales volume declined by 2.8 percent.

GAAP earnings from continuing operations in the third fiscal quarter of 2015 were USD30.2 million, or USD0.97 per diluted share, compared with USD39.8 million, or USD1.22 per diluted share, in the prior-year period. Adjusted earnings from continuing operations in the third quarter of fiscal 2015 were USD41.2 million, or USD1.33 per diluted share. This excludes USD0.26 per diluted share related to the company´s previously disclosed integration and compliance activities and USD0.10 per diluted share from the impact of DAT purchase accounting and integration costs.

Curtis Reusser, Esterline´s Chief Executive Officer, said, “During the third quarter we continued our work to reshape Esterline into a stronger company with increased efficiencies that will bring added value to our stakeholders.”