News & Events
Corporate Press Releases - 2009
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Results 1-15 of 17
Moog Celebrates First Flight of 787 Dreamliner
16 December 2009The Boeing Company completed its 787 Dreamliner maiden flight in Seattle, WA on December 15th. Moog’s flight control actuation system positioned the aircraft’s flight surfaces in response to pilot commands.
Moog Reports Fiscal '09 Fourth Quarter and Year-End Earnings
5 November 2009East Aurora, NY, Moog Inc. (NYSE: MOG.A and MOG.B) announced today fiscal year 2009 sales of $1.849 billion, net earnings of $85 million and earnings per share of $1.98. The Company’s sales and earnings were both impacted by the global recession. Sales for the year were down 3% and earnings were down 29% compared to last year.
Moog Inc. Announces 4th Quarter and Year End Earnings Webcast
30 October 2009Moog Inc. (NYSE: MOG.A and MOG.B) will release its fourth quarter and year end earnings for the period ended October 3, 2009 on Thursday November 5, 2009. 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. Bob Brady, Chairman and CEO, and John Scannell, CFO, will host the call.
Moog Inc. Announces Closing of Sale of 2,675,000 Shares of Class A Common Stock
2 October 2009East Aurora, NY, Moog Inc. (NYSE:MOG.A and MOG.B) today announced that it has closed its public offering and sale of 2,675,000 shares of Class A common stock (which number of shares includes 175,000 shares sold to the underwriters’ pursuant to the exercise in part of their over-allotment option) at a price of $29.50 per share. Net proceeds to Moog from the offering were approximately $75 million. Moog will use the net proceeds from this offering to repay a portion of the indebtedness recently incurred under its revolving bank credit facility to acquire GE Aviation Systems’ flight control actuation business. All of the shares were offered by Moog pursuant to a prospectus supplement under Moog’s existing shelf-registration statement. Cowen and Company, LLC acted as the lead manager for the offering.
Moog Inc. Announces Pricing for Class A Common Stock Offering
30 September 2009East Aurora, NY, Moog Inc. (NYSE:MOG.A and MOG.B) announced today that it has priced its public offering of 2.5 million shares of Class A common stock at $29.50 per share. Moog has granted the underwriters a 30-day option to purchase up to an additional 375,000 shares of Class A common stock to cover over-allotments, if any. Moog expects to use the net proceeds from this offering to repay a portion of the indebtedness recently incurred under its revolving bank credit facility to acquire GE Aviation Systems’ flight control actuation business located in Wolverhampton, U.K. All of the shares were offered by Moog pursuant to a prospectus supplement under Moog’s existing shelf registration statement. Cowen and Company, LLC acted as the lead manager for the offering.
Moog Inc. Announces Offering of Class A Common Stock
28 September 2009East Aurora, NY, Moog Inc. (NYSE:MOG.A and MOG.B) today announced a public offering of 2.5 million newly issued shares of Class A common stock. Moog expects to use the net proceeds from the offering to repay a portion of the indebtedness recently incurred under Moog’s revolving bank credit facility to acquire GE Aviation Systems’ flight control actuation business located in Wolverhampton, U.K. All of the shares are being offered by Moog pursuant to a prospectus supplement under Moog’s effective shelf registration statement.
Moog Announces Acquisition Closing
28 September 2009East Aurora, NY, Moog Inc. (NYSE:MOG.A and MOG.B) announced today that it has completed the acquisition of GE Aviation Systems’ flight control actuation business for $90 million in cash, financed with funds availabile under its revolving credit facility.
Moog Announces Intention to Acquire
4 September 2009East Aurora, NY, Moog Inc. (NYSE: MOG.A and MOG.B) announced today that it is in discussions with GE Aviation Systems, an operating unit of General Electric Company (GE), to purchase its flight control actuation product line located in Wolverhampton in the U.K. GE acquired this business as part of its acquisition of Smiths Aerospace in May of 2007.
Moog to Present at Gabelli Aircraft Supplier Conference
3 September 2009East Aurora, NY, Moog Inc. (NYSE: MOG.A and MOG.B) announced today that Bob Brady, Chairman and CEO, and John Scannell, CFO, will present at the 15th Annual Gabelli & Company Aircraft Supplier Conference on Thursday, September 10, 2009 at 2:00 p.m. EDT.
Moog's Third Quarter Earnings Exceed Expectations
24 July 2009East Aurora, NY, Moog Inc. (NYSE: MOG.A and MOG.B) announced today third quarter earnings of $15.9 million, and earnings per share of $.37, about half of last year’s level of $.72 per share. Sales for the quarter of $445 million were down 10% from a year ago.
Moog's Technology Moved Retractable Roof for Wimbledon's Center Court
7 July 2009East Aurora, NY, Moog Inc. (NYSE: MOG.A and MOG.B) announced today that its high-performance electric actuation system successfully operated the newly installed retractable roof above Wimbledon's Center Court. Wimbledon's staff closed the 1,100 metric-ton roof for the first time in competition on Monday, June 29th after rain stopped play during the second set of a match at Center Court.
Moog Completes Investment in Wind Energy Business
1 June 2009East Aurora, NY, Moog Inc. (NYSE: MOG.A and MOG.B) announced today that it has acquired the remaining 60% ownership of the wind energy business of LTi REEnergy GmbH in Unna, Germany and Shanghai, China. The consideration was €12 million in cash paid and the issuance of a €9.5 million note payable in February 2010. The company produces electric servo controllers and complete drive systems that position rotor blades on wind turbines. Sales for the past twelve months were €95 million.
Moog Reports Second Quarter Earnings of $23.7 Million
24 April 2009East Aurora, NY, Moog Inc. (NYSE: MOG.A and MOG.B) today announced second quarter earnings of $23.7 million, and earnings per share of $.55, down 17% from last year’s second quarter. Sales of $453 million were down 3% from a year ago. This is the first quarter in 14 years that the Company has been unable to report an increase in quarterly earnings. The Company’s situation reflects the impact of the global economic recession, particularly as it affects the Company’s industrial business in Europe and Asia.
Moog Revises ’09 Sales and Earnings Guidance
8 April 2009East Aurora, NY, Moog Inc. (NYSE: MOGA and MOGB) announced today that in response to a dramatic slowdown in orders for its industrial products and anticipated reductions in commercial airplane deliveries, the Company has revised its fiscal ’09 sales and earnings guidance. The Company is now projecting sales of approximately $1.85 billion and net earnings of $94 million or $2.20 per share before a restructuring charge which is expected to reduce earnings per share by $.25. The Company also cautions that this forecast should be considered in a range of plus or minus $.20 per share. Previous guidance was $2.80 per share.
Moog Acquires Fernau Avionics Limited
2 March 2009East Aurora, NY, Moog Inc. (NYSE: MOGA and MOGB) announced today that it has completed the acquisition of Fernau Avionics Ltd., a U.K. based company, for approximately £32 million in cash. Fernau is a leading supplier of ground-based air navigation systems for military, naval and civil aviation. Fernau had 2008 revenues of £15.7 million.
