29-Oct-2013
The Aerospace division report was as follows:-
Sales were $150.7 million, a decrease of $0.6 million from sales of $151.3 million in the third quarter of 2012. Sales increased $26.3 million related to higher shipments of our JPF to foreign customers and the recognition of revenue under the SH-2G(I) contract with New Zealand. These increases were offset by a decrease of $26.9 million due to lower JPF shipments to the United States Government (“USG”).
Operating income for the third quarter of 2013 was $27.6 million, compared to operating income of $24.4 million in the third quarter of 2012. The operating margin in this year’s third quarter was 18.3%, compared to 16.1% in the prior year. The improvement is due to gross profit attributable to the revenue recognized under the SH-2G(I) program and higher commercial and military bearing product sales.
Full report and accounts can be found here