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Thursday, November 19, 2009
Woodward Governor Profits Off
By Darryl R. Isherwood
FOXBusiness
Industrial equipment maker Woodward Governor (WGOV) reported fourth quarter profits that were down 31% despite a small gain in sales.
Woodward did say it has high hopes for a recovery in many of its businesses in the second half of next year.
For the quarter ended Sept. 30, Woodward reported earnings of $23.8 million, or 34 cents per share, down from $34.4 million, or 50 cents per share, last year.
Total sales rose 4% to $364.5 million.
In the coming year, the company expects earnings of $1.40 to $1.60 on revenue of $1.4 billion to $1.5 billion.
The shares fell 7.7% Thursday to $23.70.
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