SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): November 4, 2014

 

CURTISS-WRIGHT CORPORATION

(Exact Name of Registrant as Specified in Its Charter)

 

Delaware	1-134	13-0612970
State or Other Jurisdiction of Incorporation or Organization	Commission File Number	IRS Employer Identification No.

 

 

13925 Ballantyne Corporate Place, Suite 400 Charlotte, North Carolina		28277
Address of Principal Executive Offices		Zip Code

 

Registrant's telephone number, including area code: (704) 869-4600

--------------

Not applicable

(Former name or former address, if changed since last report)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

SECTION 2 - FINANCIAL INFORMATION

 

ITEM 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION

 

The Corporation is issuing this report to furnish supplemental financial information by reportable segment for each of the prior quarterly reporting periods to reflect the assets held for sale and completed divestitures as reported in the Corporation’s third quarter report on Form 10-Q filed on October 30, 2014. In addition, this supplemental financial information reflects the Corporation’s January 1, 2014 segment reorganization. This supplemental financial information for 2014 and 2013 has been reclassified to conform to the current period presentation.  This information will also be available on the investor relations section of the Corporation’s website.

 

 

CURTISS-WRIGHT CORPORATION and SUBSIDIARIES
SEGMENT INFORMATION (UNAUDITED)
(In thousands)
		Three Months Ended														Nine Months Ended
		3/31/2014				6/30/2014				9/30/2014						2014
Sales:
Commercial/Industrial		$	265,100			$	274,517			$	273,107					$	812,724
Defense		173,705				181,413				182,790						537,908
Energy		105,246				114,479				103,597						323,322
Total sales		$	544,051			$	570,409			$	559,494					$	1,673,954
Operating income:
Commercial/Industrial		$	30,436			$	36,083			$	40,096					$	106,615
Defense		22,406				24,173				26,974						73,553
Energy		15,529				18,274				17,491						51,294
Total segments		$	68,371			$	78,530			$	84,561					$	231,462
Corporate and other		(7,521		)		(6,458		)		(10,421		)				(24,400		)
Total operating income		$	60,850			$	72,072			$	74,140					$	207,062
Operating margins:
Commercial/Industrial		11.5		%		13.1		%		14.7		%				13.1		%
Defense		12.9		%		13.3		%		14.8		%				13.7		%
Energy		14.8		%		16.0		%		16.9		%				15.9		%
Total Curtiss-Wright		11.2		%		12.6		%		13.3		%				12.4		%
Segment margins		12.6		%		13.8		%		15.1		%				13.8		%
Diluted earnings per share *		$0.74				$0.87				$0.90						$2.52

 

 

CURTISS-WRIGHT CORPORATION and SUBSIDIARIES
SEGMENT INFORMATION (UNAUDITED)
(In thousands)
		Three Months Ended
		3/31/2013				6/30/2013				9/30/2013				12/31/2013				FY 2013
Sales:
Commercial/Industrial		$	218,789			$	240,637			$	240,184			$	255,688			$	955,298
Defense		176,592				182,302				175,728				232,877				767,499
Energy		100,211				102,476				96,497				100,700				399,884
Total sales		$	495,592			$	525,415			$	512,409			$	589,265			$	2,122,681
Operating income:
Commercial/Industrial		$	18,644			$	25,735			$	31,145			$	28,792			$	104,316
Defense		16,853				29,434				25,521				44,880				116,688
Energy		14,774				15,752				15,102				11,612				57,240
Total segments		$	50,271			$	70,921			$	71,768			$	85,284			$	278,244
Corporate and other		(9,755		)		(12,077		)		(6,138		)		(13,974		)		(41,944		)
Total operating income		$	40,516			$	58,844			$	65,630			$	71,310			$	236,300
Operating margins:
Commercial/Industrial		8.5		%		10.7		%		13.0		%		11.3		%		10.9		%
Defense		9.5		%		16.1		%		14.5		%		19.3		%		15.2		%
Energy		14.7		%		15.4		%		15.7		%		11.5		%		14.3		%
Total Curtiss-Wright		8.2		%		11.2		%		12.8		%		12.1		%		11.1		%
Segment margins		10.1		%		13.5		%		14.0		%		14.5		%		13.1		%
Diluted earnings per share *		$0.47				$0.71				$0.79				$0.92				$2.90
* May not add due to rounding

 

The information contained in this Current Report is being furnished and shall not be deemed to be “filed” for the purposes of Section 18 of the Securities and Exchange Act of 1934 or otherwise subject to the liabilities of that Section. The information in this report shall not be incorporated by reference into any filing of the registrant with the SEC, whether made before or after the date hereof, regardless of any general incorporation language in such filings.

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

		CURTISS-WRIGHT CORPORATION
		By: /s/ Glenn E. Tynan
		Glenn E. Tynan
		Vice President and
		Chief Financial Officer
Date: November 4, 2014