FORT COLLINS, Colo. (AP) _ Woodward Inc. (WWD) on Monday reported fiscal first-quarter earnings of $53.4 million.
On a per-share basis, the Fort Collins, Colorado-based company said it had net income of 83 cents. Earnings, adjusted for one-time gains and costs, were $1.10 per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.03 per share.
The maker of cockpit controls and other equipment for the defense and aerospace markets posted revenue of $720.4 million in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $667.2 million.
Woodward expects full-year earnings in the range of $5.22 to $5.52 per share, with revenue in the range of $2.9 billion to $3 billion.
Woodward shares have declined almost 2% since the beginning of the year. In the final minutes of trading on Monday, shares hit $116.41, an increase of 31% in the last 12 months.