Key Developments: Curtiss-Wright Corp (CW)
36.48USD
17 May 2013
$0.61 (+1.70%)
$35.87
$36.15
$36.54
$36.15
163,028
175,772
$37.18
$28.55
Latest Key Developments (Source: Significant Developments)
Curtiss-Wright Corp Declares 11% Dividend Increase To $0.10 Per Share For Common Stock
Curtiss-Wright Corp announced that the Board of Directors declared a dividend of $0.10 per share on Curtiss-Wright Common Stock, payable July 12, 2013 to stockholders of record as of June 28, 2013. This represents an 11% increase over the prior dividend of $0.09 per share. Full Article
Curtiss-Wright Corp Reaffirms FY 2013 Guidance
Curtiss-Wright Corp reaffirmed fiscal 2013 guidance and expects total sales in the range of $2.48-$2.52 billion, operating income in the range of $229-$237 million and diluted earnings per (EPS) in the range of $2.70-$2.80. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $2.49 billion, EBIT of $231 million and EPS of $2.77 for fiscal 2013. Full Article
Curtiss-Wright Corp Secures Contract by Northrop Grumman
Curtiss-Wright Corp announced the receipt of a contract from Northrop Grumman to provide open architecture mission computer and network switch subsystems for use in the U.S. Army's new Ground Combat Vehicle (GCV) Infantry Fighting Vehicle. The initial value of the contract is $2.5 million. The contract has a total potential value in excess of $250 million over the lifetime of the production phase of the program, which is expected to begin in 2018. Under the terms of the contract, shipments began in the first quarter of 2012 and are scheduled to continue throughout the remainder of this year. The BAE Systems-Northrop Grumman team is one of two industry teams working under technology development contracts for the GCV program. The Curtiss-Wright facility located in Santa Clarita, Calif., is manufacturing the products covered by this agreement and shipping them to Northrop Grumman in Huntsville, Ala. The BAE Systems-Northrop Grumman GCV Infantry Fighting Vehicle design modernizes the U.S. Army's ground combat vehicle fleet with a new hybrid electric drive propulsion system that enables force protection and mobility, while allowing for future growth in power requirements and new technologies. The vehicle employs customizable combinations of armor packages on a tough, space efficient steel core hull and features improved fuel efficiency, agility and acceleration due to the electric drive. Full Article
Curtiss-Wright Corp Completes Acquisition of Germany's Phonix Group
Curtiss-Wright Corp announced that it has completed the previously announced acquisition of 100% of the shares of Phönix Holding GmbH for approximately EUR82 million ($108 million) in cash. Phönix, headquartered in Germany, is a designer and manufacturer of high performance, severe-service valves, valve systems and related support services to the global chemical, petrochemical and power (both conventional and nuclear) markets. The business will operate within Curtiss-Wright's Flow Control segment. Full Article
Curtiss-Wright Corp Announces Completion of $500 Million Debt Offering
Curtiss-Wright Corp announced that it has completed a private placement debt offering of $500 million of senior notes, consisting of $225 million 3.70% senior notes due 2023, $100 million 3.85% senior notes due 2025, $75 million 4.05% senior notes due 2028 and $100 million 4.11% senior notes due 2028. This offering is exempt from the registration requirements of the Securities Act of 1933. It intends to use the net proceeds of the offering to reduce outstanding indebtedness under the Company's revolving credit facilities and for general corporate purposes, which may include working capital uses, internal growth initiatives, funding of possible future acquisitions, repurchases of stock and other general corporate purposes. Full Article
Curtiss-Wright Corp Issues FY 2013 Mixed Guidance
Curtiss-Wright Corp announced that for fiscal 2013, it expects total sales of $2.48-$2.52 billion, operating income of $229- $237 million and diluted earnings per (EPS) of $2.70-$2.80. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $2.45 billion, EBIT of $252 million and EPS of $3.06 for fiscal 2013. Full Article
Curtiss-Wright Corp Declares Dividend Of $0.09 Per Share For Common Stock
Curtiss-Wright Corp announced that the Board of Directors declared a dividend of $0.09 per share on Curtiss-Wright Common Stock, payable April 11, 2013 to stockholders of record as of March 28, 2013. Full Article
Curtiss-Wright Corp Enters Into Agreement To Acquire Phönix Group Through Acquisition Of 100% Share Of Phönix Holding GmbH
Curtiss-Wright Corp announced that it has entered into an agreement to acquire the Phönix Group (Phönix) through the acquisition of 100% of the shares of Phönix Holding GmbH for approximately EUR82 million ($106 million) in cash. Phönix, headquartered in Germany, is a designer and manufacturer of high performance, severe-service valves, valve systems and related support services to the global chemical, petrochemical and power (both conventional and nuclear) markets. The business will become part of Curtiss-Wright's Flow Control segment. The transaction is expected to be completed during the first quarter of 2013. Financial terms were not disclosed. Full Article
Curtiss-Wright Corp Acquires Assets Of F.w. Gartner Thermal Spraying, Ltd.
Curtiss-Wright Corp announced that it has acquired the assets of F.W. Gartner Thermal Spraying, Ltd., ("Gartner") of Houston, TX; a leading provider of wear and abrasion resistant coatings for energy and power generation applications. Established in 1923, Gartner has been a pioneer in the application of thermal spray protective coatings that extend the life of severe service industrial components. Gartner also provides laser cladding, precision weld repair and machining/finishing services to complement its thermal spray coating capabilities. Gartner has approximately 115 employees at two ISO 9001 accredited facilities in the Houston, TX area and had sales of approximately $24 million in 2012. Going forward, the facilities will continue to do business as F.W. Gartner Thermal Spraying, Ltd. as part of the Curtiss-Wright Surface Technologies (formerly Metal Treatment) business segment. Full Article
Curtiss-Wright Corp Completes Acquisition Of Shares Of Exlar Corporation
Curtiss-Wright Corp announced that it has completed the acquisition of the shares of Exlar Corporation for $85 million in cash. Exlar, a private company, is a leading designer and manufacturer of highly engineered electric actuators used in motion control solutions in industrial and military markets. The acquired business will operate within Curtiss-Wright's Motion Control segment. Full Article
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