Moog Inc. announced that its Aircraft Group was selected by Embraer S.A. to supply the Primary Flight Control System for Embraer's second generation E-Jet family. Under the contract Moog will provide design, qualification and certification support for a three-axis integrated Primary Flight Control System including Moog proprietary flight control computers and software, flight control actuators and related control electronics. Provisionally outlined with 78- to-122 seats, the new aircraft will succeed the current E-170 and E-190 lines and is scheduled to enter service in 2018. The new family will be reconfigured with an all-new wing, full fly-by-wire flight control systems and extended main landing gear to provide more clearance for new, higher bypass engines.

Moog Inc. announced consolidated earnings results for the second quarter and six months ended March 30, 2013. For the quarter, the company reported net sales of $643.023 million, earnings before income taxes of $49.960 million and net earnings of $36.527 million, or $0.80 diluted earnings per share as compared to net sales of $624.970 million, earnings before income taxes of $49.789 million and net earnings of $35.421 million, or $0.77 diluted earnings per share for the same period a year ago. Total operating profit was $63.674 million against $66.926 million a year ago. For the six months, the company reported net sales of $1,263.826 million, earnings before income taxes of $99.031 million and net earnings of $70.645 million, or $1.54 diluted earnings per share as compared to net sales of $1,225.588 million, earnings before income taxes of $102.738 million and net earnings of $71.794 million, or $1.57 diluted earnings per share for the same period a year ago. Total operating profit was $132.472 million against $136.949 million a year ago. The company has updated its guidance for the year 2013. Sales for the year will be $2.59 billion. Net earnings are now projected at $156 to $160 million and earnings per share in a range of $3.40 to $3.50. The midpoint of $3.45 is an increase of 4% over the previous fiscal year. The company sticks with its forecast from last quarter for CapEx, for all of fiscal 2013, of $105 million. The company now forecasts its effective tax rate for all of fiscal 2013 to be 29.5%, down slightly from last forecast of 30.0%. The company increasing its margin forecast for the year to 12.2% after restructuring, or 12.4% before restructuring.

Moog Inc., Q2 2013 Earnings Call, Apr 26, 2013