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UPDATE 2-Moog Q1 beats, ups FY outlook on aircraft mkt rebound
January 31, 2011 / 1:13 PM / 7 years ago

UPDATE 2-Moog Q1 beats, ups FY outlook on aircraft mkt rebound

* Q1 EPS $0.73 beats est $0.63

* Q1 rev $554 mln vs est $545.7 mln

* Ups 2011 EPS view to $2.75 from $2.70

* Ups 2011 sales view to $2.25 bln from 2.24 bln

Jan 31 (Reuters) - Moog Inc (MOGa.N) posted better-than-expected quarterly results, helped by higher aircraft segment sales as the commercial aircraft market rebounded, and raised its full-year outlook.

The company, which makes components for aircraft, satellites and industrial machinery, raised its 2011 earnings outlook to $2.75 per share, and revenue forecast to $2.25 billion.

First-quarter revenue rose 12 percent to $554 million. Aircraft segment sales were up 12 percent at $196 million, helped by commercial aircraft parts.

OEM (original equipment maker) production revenues were up for Boeing (BA.N) -- from a ramp-up in 787 Dreamliner hardware deliveries -- and Airbus EAD.PA, its main customers, the company said in a statement.

Boeing recently delayed the initial delivery of the Dreamliner to the third quarter from the first. [ID:nN18124773]

Shares of the East Aurora, New York-based company, with a market value of $1.93 billion, closed at $42.13 on Friday on the New York Stock Exchange. The stock has fallen 5 percent since touching a year-high of $44.48 on Jan 26. (Reporting by Divya Sharma in Bangalore; Editing by Anne Pallivathuckal, Unnikrishnan Nair)

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