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ESTERLINE EXPECTS SECOND QUARTER RESULTS TO FALL BELOW SAME PERIOD IN PRIOR YEAR; BUSINESS WEAKENS IN AEROSPACE AND DEFENSE OPERATIONS

 BELLEVUE, Wash., May 4 /PRNewswire/ -- Esterline Technologies (NYSE: ESL) reported today that it anticipates significantly lower second quarter (ended April 30) results from current operations compared with the same prior-year period. In fiscal 1992, Esterline reported second quarter net earnings of $1 million, or 15 cents per share, on sales of $77 million.
 Wendell P. Hurlbut, Esterline chief executive officer, said, "...we are experiencing sales and earnings considerably below our outlook at the beginning of our fiscal year. The principal shortfalls are in our operations serving aerospace and defense markets, where business has declined more rapidly in recent months than originally anticipated."
 Hurlbut added that, "...unfortunately, improved performance in our Automation Group can be expected to only partially offset lowered performance in the aerospace/defense operations."
 Esterline is a leading manufacturer of automation equipment for the production of printed circuit boards and metal fabrication, instrumentation for quality control, power measurement and process control, and engineered products for the commercial aircraft, aerospace and defense industries.
 -0- 5/4/93
 /CONTACT: Brian D. Keogh of Esterline Technologies, 206-453-9400/
 (ESL)


CO: Esterline Technologies ST: Washington IN: CPR SU: ERP

LM -- SE002 -- 4222 05/04/93 10:10 EDT
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Publication:PR Newswire
Date:May 4, 1993
Words:195
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