ESCO Reports Fiscal 2009 Results and Announces Initiation of Quarterly Cash Dividend

ESCO Reports Fiscal 2009 Results and Announces Initiation of Quarterly Cash
Dividend

ST. LOUIS, Nov. 12 /PRNewswire-FirstCall/ -- ESCO Technologies Inc. (NYSE:
ESE) today reported its operating results for the fourth quarter and fiscal
year ended September 30, 2009, and announced that its Board of Directors has
voted to initiate a quarterly cash dividend payable at an annual rate of $0.32
per share. The first quarterly dividend of $0.08 per share will be paid on
January 19, 2010 to stockholders of record as of January 4, 2010.

Vic Richey, Chairman and Chief Executive Officer, commented, "The announcement
today of the initiation of a cash dividend reflects the confidence that the
Board of Directors and Management have in our long-term growth opportunities
and financial strength. We are pleased to return a portion of our profits to
our shareholders, while at the same time, maintaining our emphasis on
investing in new products that will support our growth, meeting our
anticipated capital requirements, and paying down our remaining debt."

2009 Highlights
-- EPS from Continuing Operations was $0.82 in the fourth quarter and
$1.86
for the year.
-- Favorable settlement of uncertain tax positions in the 2009 fourth
quarter positively affected EPS for the quarter and the full year by
$0.19.
-- Cash from operations was $40.5 million in the quarter, and $77.6
million
for the year.
-- As a result of the strong cash flow, net debt outstanding decreased 34
percent to $130.6 million at September 30, 2009, reflecting a leverage
ratio of 1.86x.
-- Entered orders of $180.2 million were recorded in the fourth quarter
and
$634.0 million for the year, which resulted in book-to-bill ratios
greater than 1.0x, respectively.

-- Firm order backlog increased during the quarter and the fiscal year to
an all-time high.

Operating Results
The following table presents EPS for the fourth quarters and fiscal years
ended September 30:

Fourth Quarter: 2009 2008
--------------- ---- ----
EPS - Continuing Operations $0.82 0.75
EPS - Discontinued Operations $0.00 0.18
----- ----
EPS $0.82 0.93
===== ====

Total Year:
-----------
EPS - Continuing Operations $1.86 1.81
EPS - Discontinued Operations $0.00 (0.03)
----- ----
EPS $1.86 1.78
===== ====

EPS is presented from "Continuing Operations" and "Discontinued Operations."
Discontinued Operations represent the results of Comtrak which was sold in
March 2009 and Filtertek which was sold in November 2007 (first quarter of
fiscal 2008).

Effective Tax Rate
In September 2009, U.S. tax authorities completed their regular examination of
certain previously filed tax returns. The completion of this examination
substantiated the Company's positions on previously uncertain tax areas and
enabled Management to reassess its measurement of the related tax liabilities.
The closure of this examination resulted in a $5.0 million favorable
adjustment to the 2009 fourth quarter tax provision, which significantly
reduced the effective tax rate for the quarter and the year. Included in the
examination results was the confirmation of the Company's tax position for the
deduction of losses realized on the disposition of a portion of the MicroSep
business in 2004.

The effective tax rates were 8.5 percent and 35.1 percent in the fourth
quarters of 2009 and 2008, respectively, and 22.0 percent and 33.3 percent for
the fiscal years 2009 and 2008, respectively. The favorable tax rates in all
of the comparable periods noted were the result of varying degrees of income
tax benefits and credits realized in the respective periods.

Cash Flow
Cash flow from operating activities generated $40.5 million during the 2009
fourth quarter and $77.6 million for the full year. As a result of this strong
cash flow, net debt outstanding was reduced to $130.6 million at September 30,
2009 reflecting a favorable leverage ratio of 1.86x.

Entered Orders
Entered orders in the 2009 fourth quarter were $180.2 million, reflecting a
book-to-bill ratio of 106 percent, and for the full year, entered orders were
$634.0 million, or 102 percent of sales.

Order Highlights Include:
-- Fourth quarter Aclara RF AMI gas products with PG&E were $6.5 million,
bringing total PG&E gas project orders to 3.5 million units and $199
million to date.
-- Aclara RF AMI water products with New York City were $4.9 million in
the
fourth quarter, bringing the total project to 493,000 units and $39.1
million to date.
-- Aclara PLS AMI products in the fourth quarter were $35.2 million,
bringing total year orders to $123.8 million, up from $121.6 million
in
2008.
-- Aclara PLS orders from COOPs and Munis were $87.9 million in 2009
compared to $82.1 million in 2008. Fiscal 2009 includes $5.4 million
of
load control / demand response devices.
-- VACCO multi-year fluid flow product orders for the Navy's Virginia
Class
submarine were $32.2 million during the fourth quarter.

-- TekPackaging orders for Thermoscan® ear thermometer probe covers were
$11.7 million during the fourth quarter.

Chairman's Commentary
Mr. Richey further commented, "I am extremely pleased with our 2009 operating
results. Given the state of today's challenging global economy, being able to
generate nearly $78 million of cash flow from operations, and to increase our
firm order backlog to an all time high was very satisfying. This positive
outcome was due to the extraordinary efforts of our dedicated Management teams
across the organization. As a result of these efforts and in spite of softness
in several of our end markets, we were able to achieve the majority of our
internal operating goals.

"Our Aclara group continues to gain momentum, and our ongoing investments in
new products and advanced technologies continue to solidify our market
position in the fast growing Smart Grid area. The recent announcement of our
development of the Aclara Smart Communications Network solution, which is a
revolutionary, high-bandwidth, high-speed, wide area network for utility
customers, is further evidence of our commitment to expand our position as a
leading provider of next generation technologies for the Smart Grid.

"Like others in the AMI market, during 2009 we experienced delays of some
expected orders and sales as a result of the uncertainty surrounding the
government's Stimulus Program. Several of our customers who participated in
the Grant Program delayed placing orders and taking deliveries until the DOE
announced the selection results. The customers' goal was to maximize the
impact of the available grant money, and with this uncertainty now resolved,
we fully expect to see a meaningful amount of progress. Based on the grant
recipients identified, and with our participation in many of these projects
being finalized, our confidence in the future remains high.

"Strategically, we are maintaining our focus on creating significant growth,
and we will continue to focus our R&D and engineering spending toward new
product development initiatives in the domestic AMI / Smart Grid area, as well
as expanding our position in the international AMI market.

"We are making substantial progress with a number of large AMI projects and
customers in our international pipeline, and we are enthused with our
near-term order prospects in South America, Mexico and Asia. As these
international projects begin to deploy Aclara products, we expect they will be
a significant contributor to our multi-year growth outlook.

"While I am very enthusiastic about the significant number of opportunities in
front of us currently, the ongoing uncertainties of today's economy, the
delays associated with the Stimulus Program, and the timing of other customers
finalizing their AMI deployment schedules have caused us to have a more
conservative perspective as we address fiscal 2010. As discussed in the
Business Outlook section of this release, we are taking a cautious approach to
our near-term outlook and expectations to reflect these uncertainties.

"I am confident that given our new products currently being introduced, the
strength and size of our domestic and international business prospects, and
acquisition opportunities that are currently under review, we are well
positioned for the future."

Sales
Fourth quarter sales were $169.4 million in 2009 compared to $192.5 million in
2008, and total year sales were $619.1 million in 2009 compared to $613.6
million in 2008. As noted in earlier releases, fiscal year 2008 sales included
$31.3 million of revenue recognized that had been deferred from prior periods
related to Aclara PLS deliveries to PG&E. Excluding the PG&E deferred revenue
recognized in 2008, fiscal 2009 sales increased $36.8 million, or 6.3 percent.

Utility Solutions Group (USG) fourth quarter sales decreased $11.3 million in
2009 compared to the 2008 fourth quarter, but increased $21.3 million for the
full year. Absent the $31.3 million PG&E / PLS deferred revenue in 2008 noted
above, fiscal 2009 sales increased $52.6 million, or 16.4 percent from the
prior year. The USG sales increase for the total year was primarily driven by
significantly higher deliveries of fixed network RF AMI gas products to PG&E;
continued increases in AMI water product deliveries; and higher sales at
Aclara Software. Additionally, having Doble for 12 months in 2009 versus 10
months in 2008 contributed an additional $9.9 million of sales.

Test sales in 2009 decreased in the fourth quarter and full year primarily due
to the timing of large chamber deliveries to the international wireless and
electronics end-markets.

Filtration sales in 2009 decreased in the fourth quarter and total year as
sales increases in the defense aerospace and space product lines at VACCO were
offset by lower commercial aerospace product deliveries at PTI.

Earnings Before Interest and Taxes (EBIT)
On a segment basis, items that impacted EBIT dollars and EBIT as a percent of
sales ("EBIT margin") during the fourth quarter and fiscal year 2009 included
the following:

In the USG segment, EBIT for the 2009 fourth quarter was $22.6 million
compared to 2008's fourth quarter EBIT of $24.4 million (which includes $6.5
million of profit related to the fourth quarter PG&E / PLS sales deferral
noted above). USG's EBIT was impacted by the significant increases in sales of
RF AMI products and Aclara Software, offset by lower sales of PLS AMI products
(PG&E related) and lower Doble hardware sales. The RF AMI business contributed
the largest increase to EBIT during 2009 as a result of the significant sales
increases noted above.

The 2009 USG EBIT was negatively impacted by approximately $2.3 million or
$0.07 per share of exit and relocation costs at Aclara RF related to the
relocation of its operations from three leased facilities to a single, newer,
more efficient leased facility. These costs primarily related to the noncash
write-off of leasehold improvements, vacant facility charges, and moving
costs.

Additionally, the 2009 USG EBIT comparison was significantly impacted by the
2008 EBIT contribution of $15 million ($8.5 million in the first quarter of
2008, and $6.5 million in the fourth quarter of 2008) associated with the PG&E
/ PLS deferred revenue recognized in 2008.

In the Test segment, EBIT dollars and EBIT margins were lower in the 2009
fourth quarter due to the lower sales volume, but higher for the year in 2009
due to favorable changes in sales mix and effective cost management throughout
the organization.

In the Filtration segment, EBIT dollars decreased in 2009 due to lower sales
of high-margin commercial aerospace products, an increase in research and
development costs, and higher bid and proposal costs incurred in the pursuit
of a significant number of Space related projects. For the fourth quarter of
2009, Filtration's EBIT margins were consistent with prior year on lower sales
due to stringent cost management across the segment.

Corporate operating costs were higher in 2009 due to higher amortization
expenses related to recent acquisitions that included identifiable intangible
assets, higher stock compensation expenses and higher professional fees.

Business Outlook
Statements contained in the preceding and following paragraphs are based on
current expectations. Statements that are not strictly historical are
considered forward-looking, and actual results may differ materially.

TWACS NG Software Update
In October 2009, Management formally re-evaluated the expected remaining
useful life of its TWACS NG software based on the significant amount of
international AMI opportunities currently under evaluation. As a result,
Management determined it has 10-plus years of projected AMI revenues and
profits expected to be generated using this advanced software platform.
Therefore, beginning in 2010, the Company will amortize the remaining TWACS NG
asset value of $44 million over its minimum expected remaining life of 10
years.

FY 2010 versus 2009
During 2010, Management anticipates gas AMI product deliveries to PG&E will be
significantly lower than the quantities delivered in 2009 as the contract is
entering the latter stages of its deployment. The current outlook for 2010
PG&E gas product sales is expected to be approximately $40 million, coming off
its peak of $98 million in 2009.

On the positive side, a number of domestic and international projects across
the Company will show meaningful increases in sales and EBIT in 2010, which
will contribute significantly toward offsetting the PG&E decrease.
Additionally, a number of cost reduction initiatives and operating
improvements implemented across the Company will help to mitigate the
PG&E-driven EBIT decrease.

As a result, Management expects 2010 consolidated revenues to decrease
approximately three to five percent and EBIT to decline marginally compared to
2009. In addition, the 2010 effective tax rate is projected to be more
normalized at 38 percent, as Management does not expect to realize the same
amount of tax benefits and credits during 2010 as were realized in 2009.

Given the PG&E project wind-down and higher effective tax rate, Management
expects EPS to be lower in 2010 compared to 2009. On a quarterly basis,
Management expects 2010 revenues and EPS to be heavily "second half" weighted
as they were in 2009 and 2008. Regarding the 2010 first quarter, because of
the delays caused by the Stimulus Program funding that is impacting the timing
of customer orders and delivery schedules, and continued investments in
engineering and new product development, Management expects 2010 first quarter
EPS to be generally breakeven.

The Company continues to be actively engaged in several large domestic and
international projects across all three operating segments that have the
ability to favorably impact EPS in 2010 and beyond.

Management has decided to defer providing specific 2010 guidance due to the
significant size and uncertain timing of the numerous projects in which the
Company is currently engaged. Combined with the impact of the global economic
recovery, Management believes the specific financial impact and timing of
these large projects will be more quantifiable in the future, and therefore
believes it is prudent to defer providing specific EPS guidance at this time.

Chairman's Commentary - Wrap-Up
Mr. Richey concluded, "We have a sizeable amount of specific, identifiable
growth opportunities that should manifest themselves into orders and sales in
varying degrees throughout fiscal 2010. Some of these opportunities are on
projects where we have already been selected, and others are opportunities
where we view ourselves as the front-runner in the selection process. I expect
2010 to be a year of significant activity as many of these projects
materialize and firmly set us up for meaningful growth in sales and earnings
over the next few years and beyond. I remain very optimistic about our current
business prospects both domestically and internationally. Through our
disciplined planning process and management oversight, I am confident that we
have sufficient opportunities and the appropriate contingencies in place to
allow us to execute our strategic plan. Our commitment remains the same, to
achieve our long-term goal of increasing shareholder value."

Conference Call
The Company will host a conference call today, November 12, at 4 p.m. Central
Time, to discuss the Company's fourth quarter and fiscal year 2009 operating
results. A live audio webcast will be available on the Company's web site at
www.escotechnologies.com. Please access the web site at least 15 minutes
prior to the call to register, download, and install any necessary audio
software. A replay of the conference call will be available for seven days on
the Company's web site noted above or by phone (dial 1-888-203-1112 and enter
the pass code 4610995).

Forward-Looking Statements
Statements in this press release regarding the likelihood, timing and size of
potential projects and contracts which the Company may receive or participate
in, amounts and timing of fiscal 2010 future revenues, results, earnings, EPS,
AMI customers' responses to the availability of Grant Program funds, sales
growth, orders, growth, the success in capturing international AMI
opportunities, increased market share in the Smart Grid area, success of new
products and technologies, the timing and certainty of utility customer
spending, the long-term success of the Company, and any other written or oral
statements which are not strictly historical are "forward-looking" statements
within the meaning of the safe harbor provisions of the federal securities
laws. Investors are cautioned that such statements are only predictions and
speak only as of the date of this release, and the Company undertakes no duty
to update. The Company's actual results in the future may differ materially
from those projected in the forward-looking statements due to risks and
uncertainties that exist in the Company's operations and business environment
including, but not limited to: the risk factors described in Item 1A of the
Company's Annual Report on Form 10-K for the fiscal year ended September 30,
2008; the effect of the American Recovery and Reinvestment Act of 2009; the
success of the Company's competitors; changes in Federal or State energy laws;
the timing and content of purchase order releases under the Company's AMI
contracts with PG&E; the Company's successful performance of its AMI
contracts; site readiness issues with Test segment customers; weakening of
economic conditions in served markets; changes in customer demands or customer
insolvencies; competition; intellectual property rights; technical
difficulties; unforeseen charges impacting corporate operating expenses; the
performance of the Company's international operations; material changes in the
costs of certain raw materials including steel and copper; delivery delays or
defaults by customers; termination for convenience of customer contracts;
timing and magnitude of future contract awards; containment of engineering and
development costs; performance issues with key customers, suppliers and
subcontractors; labor disputes; changes in laws and regulations including but
not limited to changes in accounting standards and taxation requirements;
costs relating to environmental matters; uncertainty of disputes in litigation
or arbitration; and the Company's successful execution of internal operating
plans.

ESCO, headquartered in St. Louis, is a proven supplier of special purpose
utility solutions for electric, gas, and water utilities, including hardware
and software to support advanced metering applications and fully automated
intelligent instrumentation. In addition, the Company provides engineered
filtration products to the aviation, space, and process markets worldwide and
is the industry leader in RF shielding and EMC test products. Further
information regarding ESCO and its subsidiaries is available on the Company's
web site at www.escotechnologies.com.

- tables attached -

ESCO TECHNOLOGIES INC. AND SUBSIDIARIES
Condensed Consolidated Statements of Operations (Unaudited)
(Dollars in thousands, except per share amounts)

Three Months Three Months
Ended Ended
September 30, September 30,
2009 2008
---- ----
Net Sales $169,449 192,543
Cost and Expenses:
Cost of sales 99,471 116,093
SG&A 38,239 38,442
Amortization of intangible assets 4,835 4,667
Interest expense 1,489 2,707
Other expenses, net 1,620 (3)
----- ---
Total costs and expenses 145,654 161,906
------- -------

Earnings before income taxes 23,795 30,637
Income taxes 2,028 10,764
----- ------

Net earnings from continuing operations 21,767 19,873

Earnings from discontinued operations, net of tax
benefit of $4,508 - 4,632
--- -----

Net earnings $21,767 24,505
======= ======

Earnings per share:
Basic
Continuing operations 0.83 0.76
Discontinued operations - 0.18
---- ----
Net earnings $0.83 0.94
===== ====

Diluted
Continuing operations 0.82 0.75
Discontinued operations - 0.18
---- ----
Net earnings $0.82 0.93
===== ====

Average common shares O/S:
Basic 26,332 26,052
====== ======
Diluted 26,652 26,452
====== ======

ESCO TECHNOLOGIES INC. AND SUBSIDIARIES
Condensed Consolidated Statements of Operations (Unaudited)
(Dollars in thousands, except per share amounts)

Year Ended Year Ended
September 30, September 30,
2009 2008
---- ----
Net Sales $619,064 613,566
Cost and Expenses:
Cost of sales 372,351 367,951
SG&A 152,397 147,324
Amortization of intangible assets 19,214 17,044
Interest expense 7,450 9,808
Other expenses, net 4,480 161
----- ---
Total costs and expenses 555,892 542,288
------- -------

Earnings before income taxes 63,172 71,278
Income taxes 13,867 23,709
------ ------

Net earnings from continuing operations 49,305 47,569

Earnings (loss) from discontinued operations,
net of tax of $568 and $229, respectively 135 (282)
Loss on sale from discontinued operations,
net of tax of $905 and $157, respectively (32) (576)
--- ----
Net earnings (loss) from discontinued
operations 103 (858)
--- ----

Net earnings $49,408 46,711
======= ======

Earnings per share:
Basic
Continuing operations 1.88 1.84
Discontinued operations - (0.04)
---- -----
Net earnings $1.88 1.80
===== ====

Diluted
Continuing operations 1.86 1.81
Discontinued operations - (0.03)
---- -----
Net earnings $1.86 1.78
===== ====

Average common shares O/S:
Basic 26,216 25,909
====== ======
Diluted 26,560 26,315
====== ======

ESCO TECHNOLOGIES INC. AND SUBSIDIARIES
Condensed Business Segment Information
(Unaudited)
(Dollars in thousands)

Three Months Ended Year Ended
September 30, September 30,
------------- -------------
2009 2008 2009 2008
---- ---- ---- ----
Net Sales
-----------
Utility Solutions
Group $100,621 111,883 374,001 352,654

Test 40,035 46,171 138,345 144,770

Filtration 28,793 34,489 106,718 116,142
------ ------ ------- -------
Totals $169,449 192,543 619,064 613,566
======== ======= ======= =======

EBIT
-----
Utility Solutions
Group $22,617 24,412 62,468 66,559

Test 3,752 6,351 14,134 13,877

Filtration 6,129 7,417 18,056 21,195

Corporate (7,214) (1) (4,836) (2) (24,036) (3) (20,545) (4)
------ ------ ------- -------
Consolidated EBIT 25,284 33,344 70,622 81,086
Less: Interest
expense (1,489) (2,707) (7,450) (9,808)
------ ------ ------ ------
Earnings before
income taxes $23,795 30,637 63,172 71,278
======= ====== ====== ======

Note: Depreciation and amortization expense was $7.6 million and
$7.6 million for the quarters ended September 30, 2009 and 2008,
respectively, and $30.3 million and $27.1 million for the years
ended September 30, 2009 and 2008, respectively.

(1) Includes $1.2 million of amortization of acquired intangible assets.

(2) Includes $1.2 million of amortization of acquired intangible assets.

(3) Includes $4.7 million of amortization of acquired intangible assets.

(4) Includes $4.2 million of amortization of acquired intangible assets.

ESCO TECHNOLOGIES INC. AND SUBSIDIARIES
Condensed Consolidated Balance Sheets (Unaudited)
(Dollars in thousands)

September 30, September 30,
2009 2008
---- ----
Assets
------
Cash and cash equivalents $44,630 28,667
Accounts receivable, net 108,620 134,710
Costs and estimated earnings on long-term
contracts 10,758 9,095
Inventories 82,020 65,019
Current portion of deferred tax assets 20,417 15,368
Other current assets 13,750 14,888
Current assets from discontinued operations - 2,889
--- -----
Total current assets 280,195 270,636

Property, plant and equipment, net 69,543 72,353
Goodwill 330,719 328,878
Intangible assets, net 221,600 236,192
Other assets 21,630 17,665
Other assets from discontinued operations - 2,349
--- -----
$923,687 928,073
======== =======

Liabilities and Shareholders' Equity
------------------------------------

Short-term borrowings and current maturities
of long-term debt $50,000 50,000
Accounts payable 47,218 48,982
Current portion of deferred revenue 20,215 18,226
Other current liabilities 46,552 49,934
Current liabilities from discontinued operations - 1,541
--- -----
Total current liabilities 163,985 168,683
Deferred tax liabilities 78,471 83,515
Other liabilities 33,424 23,988
Long-term debt 130,467 183,650
Shareholders' equity 517,340 468,237
------- -------
$923,687 928,073
======== =======

ESCO TECHNOLOGIES INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF CASH FLOWS
(Unaudited)
(Dollars in thousands)

Year Ended
September 30,
2009
----
Cash flows from operating activities:
Net earnings $49,408
Adjustments to reconcile net earnings to net
cash provided by operating activities:
Net earnings from discontinued operations (103)
Depreciation and amortization 30,267
Stock compensation expense 4,866
Changes in current assets and liabilities 1,566
Effect of deferred taxes (2,543)
Change in deferred revenue and costs, net 1,781
Pension contributions (1,997)
Change in other long-term tax liabilities (5,700)
Other (71)
---
Net cash provided by operating activities -
continuing operations 77,474
Net cash provided by operating activities -
discontinued operations 142
---
Net cash provided by operating activities 77,616
------

Cash flows from investing activities:
Acquisition of businesses (6,442)
Additions to capitalized software (5,004)
Change in acquisition escrow 2,189
Capital expenditures (9,255)
------
Net cash used by investing activities - continuing
operations (18,512)
Proceeds from divestiture of business, net -
discontinued operations 3,100
-----
Net cash used by investing activities (15,412)
-------

Cash flows from financing activities:
Proceeds from long-term debt 32,000
Principal payments on long-term debt (85,183)
Proceeds from exercise of stock options 6,621
Other 1,029
-----
Net cash used by financing activities (45,533)
-------

Effect of exchange rate changes on cash and cash
equivalents (708)
----

Net increase in cash and cash equivalents 15,963
Cash and cash equivalents, beginning of period 28,667
------
Cash and cash equivalents, end of period $44,630
=======

ESCO TECHNOLOGIES INC. AND SUBSIDIARIES
Other Selected Financial Data
(Unaudited)
(Dollars in thousands)

Backlog And Entered Orders - Utility
Q4 FY 2009 Solutions Test Filtration Total
---------------------------- --------- ---- ---------- -----
Beginning Backlog - 6/30/09
continuing opers $155,532 60,249 72,832 288,613
Entered Orders 77,465 34,026 68,716 180,207
Sales (100,621) (40,035) (28,793) (169,449)
-------- ------- ------- --------
Ending Backlog - 9/30/09 $132,376 54,240 112,755 299,371
======== ====== ======= =======

Backlog And Entered Orders - Utility
FY 2009 Solutions Test Filtration Total
---------------------------- --------- ---- ---------- -----
Beginning Backlog - 9/30/08
continuing opers $143,170 69,823 71,463 284,456
Entered Orders 363,207 122,762 148,010 633,979
Sales (374,001) (138,345) (106,718) (619,064)
-------- -------- -------- --------
Ending Backlog - 9/30/09 $132,376 54,240 112,755 299,371
======== ====== ======= =======

SOURCE ESCO Technologies Inc.

Patricia K. Moore, Director, Investor Relations of ESCO Technologies Inc.,
+1-314-213-7277; or media inquiries, David P. Garino, +1-314-982-0551, for
ESCO Technologies Inc.