FORT COLLINS, Colo. (AP) _ Woodward Inc. (WWD) on Monday reported fiscal second-quarter earnings of $91.3 million.
On a per-share basis, the Fort Collins, Colorado-based company said it had net income of $1.41. Earnings, adjusted for costs related to mergers and acquisitions, were $1.61 per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 98 cents per share.
The maker of cockpit controls and other equipment for the defense and aerospace markets posted revenue of $720.2 million in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $690.5 million.
Woodward shares have decreased 53% since the beginning of the year. In the final minutes of trading on Monday, shares hit $55.70, a decline of 49% in the last 12 months.