30 Aug 12. Esterline Corporation (ESL) reported third quarter 2012 (ended July 27) earnings from continuing operations of $35.1m, or $1.12 per diluted share (EPS), on sales of $485.9m, prior to a previously announced $52.2m, or $1.69 per diluted share, non-cash charge against goodwill for its U.K.-based Racal Acoustics defense business. This compared with year-ago income from continuing operations of $37.7m, or $1.21 per diluted share, on sales of $409.5m. Including the goodwill charge, third quarter net loss from continuing operations was $17.1m, or $0.55 per diluted share. As stated in the company’s preliminary third quarter announcement, full-year revenue is anticipated to range between $1.95bn and $2.00bn, representing growth of approximately 15% over fiscal 2011. Including anticipated fourth quarter diluted EPS of $1.60 to $1.70, the company expects full-year EPS (excluding the goodwill charge) to be in the range of $4.90 to $5.00 per diluted share, compared with $4.27 a year ago. Gross margin as a percentage of sales was 35.4% in the third quarter compared with 35.1% in the prior-year period. Selling, general and administrative expenses were 18.9% of sales in the quarter compared with 18.7% last year. Research, development and engineering expense in the quarter was $27.2m, or 5.6% of sales, compared with $23.1m, or 5.6% of sales, a year ago. The company is continuing to hold R&D spending at a level that will support new programs as previously expensed programs begin to ramp into production. The company’s quarterly income tax rate before the goodwill charge was 16.5% compared with 6.9% for the third fiscal quarter of 2011, including a four percentage point tax benefit in the third quarter mainly due to a reduction in the U.K. corporate tax rates. For the first nine months of fiscal 2012, excluding the goodwill charge, net income was $103.0m, or $3.30 per diluted share, compared with $113.6m, or $3.65 per diluted share last year. Including the charge, net income for the first nine months of fiscal 2012 was $50.9m, or $1.63 per diluted share. Sales for the first nine months of fiscal 2012 were $1.46bn, compared with $1.22bn in the same period a year ago. New orders for the first nine months of fiscal 2012 were $1.45bn compared with $1.38bn for the same period in 2011, a 5% year-over-year increase. Backlog was $1.24bn at July 27, 2012, compared with $1.26bn at the end of the prior-year period. (Source: Yahoo!/Marketwire)

04 Sep 12. Sabre Industries, Inc. has been acquired by affiliates of Kohlberg & Company, L.L.C., a leading private equity firm based in Mount Kisco, New York. Sabre is a leading producer of highly-engineered products used for electric transmission and distribution, wireless communications, renewable energy, and government and defense infrastructure. The Company offers a complete customer solution with a full range of engineered towers, poles, and building systems. In addition, Sabre complements its best-in-class products with related service offerings including tower maintenance, repair, modification, decommissioning, antennae replacement and logistics services. The Company’s vast array of product offerings and extensive manufacturing capabilities has allowed Sabre to develop leading positions with a high-quality, diversified group of customers including the nation’s largest utilities and wireless communications firms. (Source: Yahoo!/BUSINESS WIRE)

03 Sep 12. Rheinmetall expands its global naval presence – RASP seeks
leading role in ship-mounted weapon platforms. Rheinmetall Defence’s takeover of the stabilised weapon platform activities of Britain’s EM Digital reinforces the Düsseldorf-based Group’s portfolio of advanced naval systems and equipment, making it a significant strategic acquisition. The new subsidiary, Rheinmetall Advanced Stabilised Platforms (RASP) of London, possesses cutting-edge expertise and an extensive range of stabilisation technology products. Rheinmetall holds a 51% stake in