Woodward Governor Company reported its financial results for its first quarter of fiscal year 2009. Net sales for the quarter totaled $344.7 million, up 27 percent from the same period of last year. Net earnings for the quarter were $27.1 million, or $0.39 per share, compared with $25.3 million, or $0.36 per share, in last year’s first quarter.
Chairman and Chief Executive Officer Thomas A. Gendron stated, “Growth continued in our businesses and markets through our fiscal first quarter, although at a more moderate pace than in recent quarters. We remain focused on cost control and capitalizing on opportunities that may present themselves in times of uncertainty.”
In the press release, the company stated that it continues to take actions to broaden its geographic base, expand market share, and increase the efficiency of its infrastructure. Woodward Governor anticipates full-year organic sales to either stay flat to be slightly up, with overall sales, including recent acquisitions, to be approximately $1.4 to $1.5 billion and related earnings per share of $1.65 to $1.90.
As of 12:06 PM EST, the stock is trading at $23.73, up 19.25%, on 1,611,383 traded shares.
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