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Article: Esterline 1st Q Net Earnings Increase 29%; Announces 2-for-1 Stock Split
- Article from:
- PR Newswire
- Article date:
- March 4, 1998
CopyrightCOPYRIGHT 1998 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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All Business Groups Show Solid Sales Increases
BELLEVUE, Wash., March 4 /PRNewswire/ -- Esterline Technologies (NYSE: ESL) reported today at its annual shareholders' meeting a 29 percent increase in first quarter net earnings -- $4.8 million, or $.55 per share on a diluted basis, compared with the prior year period's $3.8 million, or $.43 per share. First quarter sales were $95.7 million compared with $82.2 million a year ago. Backlog at the end of the quarter was $171.3 million, up 32 percent over last year.
At the meeting, the Company announced a 2-for-1 stock split to be effective April 18, 1998.
CEO Wendell P. Hurlbut ...