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East Aurora, N.Y., November 17, 2014 – Moog Inc. (NYSE: MOG.A and MOG.B) announced today an offering of $250 million in aggregate principal amount of senior notes due 2022 to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933. Offers to persons outside the United States will be made pursuant to Regulation S under the Securities Act. The proposed offering is subject to market and other conditions. Moog Inc. intends to use the net proceeds of the offering to repay a portion of outstanding borrowings under its senior bank credit facility.
East Aurora, NY -- Moog Inc. (NYSE: MOG.A and MOG.B) announced today fiscal year 2014 sales of $2.65 billion, up 1% year over year. Net earnings of $158 million were up 31% and EPS of $3.52 were 34% higher. For the fourth quarter, sales of $671 million were down 1%. Net earnings of $40 million and earnings per share of $.93 were both higher than a year ago. The 2014 results include a fourth quarter restructuring charge of $13 million, the equivalent of $.19 per share.
Moog Industrial Group has been working with their global Formula 1 (F1) customers to help them meet the challenges of 2014 Fédération Internationale de l'Automobile (FIA) rules changes. Formula One cars are the highest class of single-seat auto racing that is sanctioned by FIA and are the most technologically advanced racing cars in the world. These new technical regulations encourage F1 auto designers to focus on new technologies, that are more relevant to road cars, and in particular techniques of improving fuel efficiency. Moog is able to help teams meet these challenges through their range of sub-miniature hydraulic F1 products and systems for actuation, supporting completely new systems on this season’s cars such as brake pressure limiting and turbocharger waste-gate control.
Moog Inc. (NYSE: MOG.A and MOG.B) Space and Defense Group played a critical role in the successful launch of the Boeing-built GPS IIF-8 satellite atop a United Launch Alliance (ULA) Atlas V rocket today. GPS IIF-8 is the eighth of twelve planned Global Positioning System (GPS) Block IIF satellites to support the space-based, worldwide navigation system. The system provides users with highly accurate, three-dimensional position, velocity and timing information 24 hours per day in all weather conditions.
Moog Inc. (NYSE: MOG.A and MOG.B) will release its fourth quarter and year end earnings for the period ended September 27, 2014 on Friday October 31, 2014. In conjunction with this release, Moog will host a conference call beginning at 10:00 a.m. ET, which will be simultaneously broadcast live over the Internet. John Scannell, Chairman and CEO, and Don Fishback, CFO, will host the call.
Moog Inc. (NYSE: MOG.A and MOG.B) Space and Defense Group is celebrating the 67th anniversary of Captain Charles “Chuck” Yeager breaking the Sound Barrier in a Bell X-1. The X-1 was built at the Bell Aircraft Wheatfield production facility located at the eastern end of the now Niagara Falls International Airport. This facility went on to produce rocket engines beginning in the 1950’s and still currently produces propulsion systems and spacecraft rocket engines as part of Moog’s In-Space Propulsion (ISP) division.
Moog Inc. (NYSE: MOG.A and MOG.B) Space and Defense Group provided critical hardware to the Himawari-8 weather satellite, manufactured by Mitsubishi Electric Corporation (MELCO). The launch took place today from Tanegashima Space Center, Japan atop a Mitsubishi Heavy Industries (MHI) H-IIA Heavy-Lift Rocket.
Moog Delivers Tire Coupled Simulation System to Mazda Group for its First Overseas R&D Center in China12 September 2014
Nanjing, China: Chang’an Mazda has successfully started performance and durability testing programs at its R&D center in Nanjing, thanks to a Moog Tire Coupled Simulation System delivered in a record time. The test system is a 4-poster hydraulic rig that simulates vertical acceleration and displacement inputs on the wheels, using data collected from the test track that is then replicated and played out in the lab through Moog Replication Software.
East Aurora, NY, Moog Inc. (NYSE: MOG.A and MOG.B) announced today that John Scannell, CEO, and Donald Fishback, CFO, will present at the RBC Capital Markets Industrials Conference on Wednesday, September 10, 2014 at 3:05 p.m. ET.
East Aurora, NY, Moog Inc. (NYSE: MOG.A and MOG.B) announced today that John Scannell, CEO, and Donald Fishback, CFO, will present at the 20th Annual Gabelli & Company Aircraft Supplier Conference on Tuesday, September 9, 2014 at 10:00 a.m. ET.
Moog Inc. (NYSE: MOG.A and MOG.B) Space and Defense Group supported the first two Galileo Full Operational Capability (FOC) Satellites launched atop a Soyuz-STB Fregat-MT rocket today from Sinnamary, Kourou, French Guiana. The first two FOC satellites, manufactured by OHB System AG in Bremen, Germany, are an integral part of Europe’s program for a global navigation satellite system, providing accurate, guaranteed global positioning service, interoperable with the US GPS and Russian GLONASS systems. The complete satellite system consists of 30 satellites in three planes of Medium Earth Orbit (MEO) and a ground infrastructure.
EAST AURORA, NY, Moog Inc. (NYSE: MOG.A and MOG.B) announced today that its Board of Directors has amended its previously announced share repurchase program to include an additional 5,000,000 shares.
Moog Inc. (NYSE: MOG.A and MOG.B) Space and Defense Group provided hardware to Thales Alenia Space in support of Automated Transfer Vehicle 5 (ATV-5) Georges Lemaître, designed and built by Airbus Defence and Space as prime contractor, that launched on July 29, 2014 from ELA-3, Kourou, French Guiana atop an Ariane 5 launch vehicle built by Airbus Defence and Space and operated by Arianespace. Georges Lemaître is the fifth ESA-built ATV; thirty companies from ten European countries, as well as eight other companies from Russia and the United States, work under the supervision of Airbus Defence and Space, the world’s second largest space company.
East Aurora, NY - Moog Inc. (NYSE: MOG.A and MOG.B) announced today third quarter earnings of $48 million, or $1.08 a share, an increase of 44% over last year’s $.75 per share. Sales in the quarter of $684 million were up 2% from last year’s $671 million.