News & Events
Corporate Press Releases - 2007
Results 1-14 of 14
Moog Announces Airbus A350 XWB Award
28 November 2007East Aurora, NY, Moog Inc. (NYSE: MOG.A and MOG.B) announced today that its Aircraft Controls Group has been selected by Airbus to supply primary flight control actuation for the A350 XWB. The A350 XWB (Xtra Wide-Body) family is Airbus' response to widespread market demand for a series of highly efficient medium-capacity long-range wide-body aircraft. With a range of up to 8,300 nautical miles, it is available in three basic passenger versions: the A350-800 accommodating 270 passengers, the A350-900 seating 314 and the A350-1000 for 350 passengers. Moog will supply the primary flight controls including aileron, elevator, rudder and spoiler actuators.
Moog Announces CFO Retirement
26 November 2007East Aurora, NY, Moog Inc. (NYSE: MOG.A and MOG.B) announced that Robert R. Banta, Executive Vice President and Chief Financial Officer, has announced his intention to retire. Mr. Banta joined Moog in 1983 as Chief Financial Officer after a career in commercial banking. Over his twenty-five year career with Moog, Mr. Banta served as the architect of Moog’s financial structure while the Company grew from $166 million in sales to $1.558 billion and Moog’s market capitalization increased to nearly $2 billion. Mr. Banta will continue to actively serve as a Director on Moog’s Board, a position he was first elected to in 1990.
Moog Announces Acquisition
20 November 2007East Aurora, NY, Moog Inc. (NYSE: MOG.A and MOG.B) announced today that it has acquired PRIZM Advanced Communications Electronics Inc. for $12 million in cash.
Moog Reports Year-End Earnings Per Share Up 19%
1 November 2007East Aurora, NY, Moog Inc. (NYSE: MOG.A and MOG.B) announced today net earnings of $101 million and earnings per share of $2.34, an increase of 19% over last year’s $1.97. The earnings increase was achieved in spite of very heavy R&D expenditures on a variety of projects including the Boeing 787 Dreamliner.
Moog Expects Minimal Effect From Boeing 787 Delay
10 October 2007East Aurora, NY, Moog Inc. (NYSE: MOG.A and MOG.B) today announced that there would be minimal impact on its fiscal year 2008 forecast of sales and earnings as a result of Boeing’s announcement that their first deliveries of 787 airplanes would be delayed six months.
Moog Acquires QuickSet International
12 September 2007East Aurora, NY, Moog Inc. (NYSE: MOG.A and MOG.B) announced today the acquisition of the stock of QuickSet International Inc. QuickSet is a privately held Northbrook, Illinois manufacturer of precision positioning systems and pan and tilt mechanisms. The products are used to position surveillance cameras, thermal imagers, sensors and communication antennae. QuickSet is a leading supplier of this equipment for military, homeland security and commercial surveillance applications.
Moog on Boeing ARES I Team
4 September 2007East Aurora, NY, Moog Inc. (NYSE: MOG.A and MOG.B ) announced today that the Company is part of the Boeing-led team (NYSE: BA) awarded a NASA contract to produce the upper stage of the Ares I Crew Launch Vehicle. Moog will provide critical components to Boeing for the Main Propulsion System and Reaction Control Systems for NASA's first new human-rated launch vehicle since the Space Shuttle. Moog will also work with Hamilton Sundstrand to provide thrust vector control (TVC) subsystems, which will steer the Upper Stage during ascent.
Moog's Third Quarter EPS Increase 17%
27 July 2007East Aurora, NY, Moog Inc. (NYSE: MOG.A and MOG.B) announced today third quarter earnings of $25.6 million or 59 cents per share, an increase of 18% over 50 cents per share a year ago. Sales for the quarter of $404 million were up 21% from $333 million last year.
Moog Announces Acquisition in Components Segment
3 May 2007East Aurora, NY, Moog Inc. (NYSE: MOG.A and MOG.B) announced today that it has acquired Thermal Control Products Inc. for $7.5 million, including $4.3 million in cash with the balance due in notes payable over 3 years.
Strong Sales Gains Drive Moog's Solid Earnings Improvement
27 April 2007East Aurora, NY, Moog Inc. (NYSE: MOG.A and MOG.B) today announced second quarter earnings of $24.5 million, a 14% increase from a year ago on strong sales growth of 19%. Sales for the quarter were $385 million. On a per share basis, earnings of 57 cents were up 8% compared to a very strong quarter a year ago. The Company issued additional shares in the early part of fiscal ’06 and the average share count is now 43.1 million versus 40.7 million a year ago. The increase in earnings was achieved in spite of a $10 million increase in R&D expense, largely reflecting the Company’s investment in Boeing’s new 787 airplane.
Moog Announces Boeing 747-8 LCE Contract
29 March 2007East Aurora, NY, Moog Inc. (NYSE: MOG.A and MOG.B) announced today that it has recently been awarded a contract to supply the Lateral Control Electronics (LCE) for the new Boeing 747-8. The Boeing 747-8 Intercontinental and 747-8 Freighter are the new high-capacity 747s that offer airlines the lowest operating costs and best economics of any large passenger or freighter airplane. Entry into service is anticipated in late 2009.
Moog Announces Medical Devices Acquisition Closing
16 March 2007East Aurora, NY, Moog Inc. (NYSE: MOG.A and MOG.B) (the “Company”) announced today that it has completed the acquisition of ZEVEX International Inc. (NASDAQ: ZVXI) for $83.8 million. ZEVEX is a manufacturer of medical devices headquartered in Salt Lake City, Utah. ZEVEX shareholders will receive $13 in cash for each share of ZEVEX common stock. As a result of this transaction, ZEVEX is now a wholly owned subsidiary of Moog. The Company used its revolving credit facility to finance the transaction.
Moog Reports First Quarter Earnings Per Share Up 30%
29 January 2007East Aurora, NY, 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.
Moog Announces Medical Devices Acquisition
12 January 2007East Aurora, NY, Moog Inc. (NYSE: MOG.A and MOG.B) announced today that it has entered into a definitive agreement to acquire ZEVEX International, Inc. (NASDAQ: ZVXI) for $13.00 in cash per share of ZEVEX common stock. The agreement also provides that each holder of options for ZEVEX common stock will receive an amount equal to the difference between $13.00 and the exercise price of the option. At closing, the total cash consideration by Moog is expected to total $83.8 million. Moog will use its existing revolving credit facility to finance the transaction.
