Stock Nuggets
A High Ride on Flight Components
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Sunday, May 11, 2008; Page F03
Never heard of Esterline Technologies? This Bellevue, Wash., company (symbol ESL) has flown under many investors' radar because none of its thousands of products -- high-tech components needed for flight -- is a household name.
Airline passengers around the world depend on its sensors to keep jet engines running smoothly, its seals to maintain cabin pressure and its cockpit controls for safe landings. The company's products are widely used in the military, too.
Defense generates about 40 percent of sales. Commercial aviation makes up another 40 percent. The remaining 20 percent comes from industrial and medical sales.
All parts of the company soared in its fiscal first quarter, which ended Feb. 1. Sales rose 45 percent year-on-year to $372 million.
Esterline's stock ($56.08 on Friday) has soared 31 percent in the past 12 months.
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