Key Developments: Moog Inc (MOGa.N)
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23 May 2013
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Latest Key Developments (Source: Significant Developments)
Moog Inc Lowers FY 2013 Guidance-Conference Call
Moog Inc announced that for fiscal 2013, it expects sales of $2.59 billion and operations should deliver earnings per share (EPS) in the range of $3.55 to $3.65, but the Company will incur a total of $0.15 per share in restructuring, which will reduce that range to between $3.40 and $3.50. According to I/B/E/S Estimates, analysts are expecting the Company to report revenues of $2.61 billion and EPS of $3.50 for fiscal 2013. Full Article
Nestle SA's Nestle Health Science And Moog Inc. Announces Distribution Agreement For EnteraLite Infinity Pump
Nestle SA's Nestle Health Science and Moog Inc. announced that effective immediately Nestlé Health Science will become the exclusive distributor in the U.S. and Canada for Moog's EnteraLite Infinity Pump, including compatible administration sets and accessories. The agreement between Nestlé Health Science and Moog expands availability of a enteral delivery system that can be used across the full continuum of care - for adult and pediatric patients in the hospital and at home. The terms of this agreement are not being disclosed. Full Article
Moog Inc Revises FY 2013 Revenue Guidance; Lowers High End Of Prior FY 2013 EPS Guidance; Comments On Q2, H2 2013 Guidance-Conference Call
Moog Inc announced that for fiscal 2013, it is projecting sales of $2.62 billion, down $29 million from last forecast, and earnings-per-share within a range of $3.50 to $3.60. The Company believes the second quarter 2013 will be similar to the first and that will see an acceleration in sales and earnings in the second half of 2013. Full Article
Moog Inc Acquires Broad Reach Engineering Company
Moog Inc announced that it has acquired Broad Reach Engineering Company (BRE), located in Golden, Colorado. The purchase price is approximately $48 million, including $37 million in cash, a $6 million note payable and a $5 million potential earn out payment, based on the achievement of certain financial targets. Broad Reach, founded in 1997, is a designer and manufacturer of spaceflight electronics and software for aerospace, scientific, commercial and military missions. The company also provides ground testing, launch and on-orbit operations. Trailing twelve month revenues were approximately $27 million. Full Article
Moog Inc Issues FY 2013 Guidance
Moog Inc announced that for fiscal 2013, it expects sales of $2.65 billion with a range of +/- $25 million. Net earnings between $160 million and $170 million and earnings per share between $3.50 and $3.70. The midpoint, $3.60, represents an 8% increase in EPS. Full Article
Moog Inc Acquires Tritech International Limited
Moog Inc announced that it has acquired Tritech International Limited. The purchase price is approximately GBP21 million in cash. Tritech, founded in 1991, designer and manufacturer of high performance acoustic sensors, sonars, video cameras and mechanical tooling equipment. Full Article
Moog Inc. Completes Acquisition Of American Pacific Corporation's In-space Propulsion Business For $46 Million
Moog Inc. announced that it has completed the acquisition of American Pacific Corporation's In-Space Propulsion business for $46 million in cash. The In-Space Propulsion business, with locations in New York, California, Ireland and the United Kingdom, is a developer and manufacturer of liquid propulsion systems and components for satellites and missile defense systems. Full Article
Moog Inc Reaffirms FY 2012 Guidance; Issues Q4 2012 EPS Guidance-Conference Call
Moog Inc announced that it is on track for a 12% increase in earnings per share for fiscal 2012. The Company is refining sales forecast for fiscal 2012 slightly with a net reduction of $21 million. The Company earnings per share forecast is unchanged at $3.31 with fourth-quarter EPS of $0.89. Full Article
American Pacific Corporation Announces Divestiture Of In-Space Propulsion Business To Moog Inc
American Pacific Corporation announced that it has reached agreement to divest its Aerospace Equipment segment, also known as its In-Space Propulsion business, to Moog Inc. The purchase price is approximately $46 million in cash. The In-Space Propulsion business, with locations in New York, California, Ireland and the United Kingdom, is a developer and manufacturer of liquid propulsion systems and components for satellites and missile defense systems. The closing of the transaction, which is subject to the satisfaction of customary closing conditions, is expected to occur by September 30, 2012. Janes Capital Partners is acting as financial advisor and Morrison & Foerster is acting as legal advisor to AMPAC. Hodgson Russ is acting as legal advisor to Moog Inc. Full Article
Moog Inc. Reaffirms FY 2012 Guidance
Moog Inc. affirmed fiscal 2012 guidance and expects sales will be $2.47 billion, net earnings at $152 million and earnings per share (EPS) at $3.31. With six months over, fiscal 2012 is coming together nicely and it continue to forecast a 12% growth in earnings per share over fiscal 2011 result. Full Article
STXNEWS LATAM-Embraer taps Moog, Rockwell Collins to supply new E-Jets
Brazilian planemaker Embraer SA selected suppliers for its second-generation E-Jet commercial jets scheduled to enter service in 2018, the company said in a statement on Monday.
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