MOOG REPORTS FIRST QUARTER EARNINGS PER SHARE UP 30%

01/29/2007

Moog Inc. (NYSE: MOG.A and MOG.B ) announced today net earnings of $24.1 million and earnings per share of $.56 for the first fiscal quarter ended December 30, 2006. This represents an increase of 30% over the $.43 of last year's first quarter. Sales for the quarter of $356 million were up 15% from the year previous. Sales increased in all five of the Company’s segments.

Sales for the Aircraft segment grew by 3% to $131 million. The growth was all in Commercial programs. Sales to Boeing Commercial were up by 16%. Sales on Business Jets were up slightly and Commercial aircraft aftermarket revenue grew 7%. Total Commercial aircraft sales were $51 million for the quarter, up 8% from last year.

Military aircraft sales of $80 million were slightly below last year's first quarter. Military production programs were stable. Revenue on the F-35 development program was down slightly as the program is transitioning to the production phase.

For the quarter, Space and Defense sales were up 18% to $44 million. The big increase was in Defense Controls and particularly the U.S. Marine's Light Armored Vehicle Program. Sales also increased in Naval applications and the Space Shuttle refurbishment program.

The Industrial segment had first quarter sales of $102 million, up 13%. Sales were up in most major Industrial markets, but particularly in controls for metal-forming equipment and gauge controls for steel mills being built in China.

Components Group continues its strong performance. Sales in the quarter were up 22% to $68 million. Sales were particularly strong in components used on aircraft, on military vehicles, and in the marine market.

The Company formed its new Medical Devices segment in the third quarter of last year with the acquisition of Curlin Medical. In last year's fourth quarter, the Company acquired McKinley Medical. During this most recent quarter, total sales were $11 million, tracking the Company's forecast of $40 million for the year. On January 12, the Company announced the proposed acquisition of ZEVEX International, Inc. ZEVEX specializes in the production of infusion pumps used in enteral nutritional therapy. The ZEVEX transaction is expected to close by the end of March.

Twelve-month consolidated backlog at December 30, 2006 was $655 million, up $85 million, or 15% from the backlog a year ago.

Based on the strong first quarter performance, the Company has updated its guidance for fiscal '07. The Company is now projecting sales in a range of $1.43 billion to $1.45 billion. Net earnings are forecast in a range between $98 million and $101 million and EPS between $2.26 and $2.34, with the midpoint of this range at $2.30 per share.

"This is the strongest first quarter performance that I can remember," said R.T. Brady, Chairman and CEO. "Sales were up, net earnings were up, and earnings per share were up 30%. Earnings were particularly strong in Space and Defense, Industrial, and Components. We're off to a great start on what promises to be another good year. For the year, we're projecting an increase in earnings per share of 17%, right in line with our compound annual growth rate in EPS over the last dozen years."

Moog Inc. is a worldwide designer, manufacturer, and integrator of precision control components and systems. Moog's high-performance systems control military and commercial aircraft, satellites and space vehicles, launch vehicles, missiles, automated industrial machinery, and medical equipment. Additional information about the Company can be found on its website, http://www.moog.com,  including the text of its prepared conference call remarks.


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• Tables for Press Release 1/29/2007