SECURITIES AND EXCHANGE COMMISSION 
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

 
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
 
Date of Report (Date of earliest event reported): October 26, 2006
 
CURTISS WRIGHT CORPORATION
( Exact Name of Registrant as Specified in Its Charter)

Delaware	 
1-134
 	 
13-0612970
 	
State or Other
Jurisdiction of
Incorporation or
Organization	Commission File
Number	IRS Employer
Identification No.

 	
 	 	 	
4 Becker Farm Road
Roseland, New Jersey	07068	
Address of Principal Executive Offices	Zip Code	

Registrant's telephone number, including area code: (973) 597-4700
______________________________

Not applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
 
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 
 
SECTION 2 – FINANCIAL INFORMATION
 
ITEM 2.02.    RESULTS OF OPERATIONS AND FINANCIAL CONDITION .	
 
On October 26, 2006 Curtiss-Wright Corporation (the “Company” ) issued a press release announcing financial results for the third quarter ended September 30, 2006. A copy of this press release is attached hereto as Exhibit 99.1. A conference call and webcast presentation will be held on Friday, October 27, 2006 at 11:00am EDT for management to discuss the Company's first quarter 2006 performance. Martin R. Benante, Chairman and CEO, and Glenn E. Tynan, CFO, will host the call.
 
The financial press release and access to the webcast will be posted on Curtiss-Wright's website at www.curtisswright.com. For those unable to participate, a webcast replay will be available for 90 days on the Company's website beginning one hour after the call takes place. A conference call replay will also be available for 30 days by dialing (888) 286-8010 (Domestic) or (617) 801-6888 (International), and entering Passcode 36148098.
 
The information contained in this Current Report, including Exhibit 99.1, is being furnished and shall not be deemed to be “filed” for the purposes of Section 18 of the Securities and Exchange Act of 1934 or otherwise subject to the liabilities of that Section. The information in this report shall not be incorporated by reference into any filing of the registrant with the SEC, whether made before or after the date hereof, regardless of any general incorporation language in such filings.
 
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.
 
 	(a) Not applicable.	
 
 	(b) Not applicable.	
 
 	(c) Exhibits.	
 
 	99.1 Press Release dated October 26, 2006	

 
2

 

 	
 
SIGNATURE
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 	CURTISS WRIGHT CORPORATION	
 	 	
By:   	/s/ Glenn E. Tynan  	
 	Glenn E. Tynan	
 	Vice-President and	
 	Chief Financial Officer	

 
Date: October 26, 2006

 
3

 
 
EXHIBIT INDEX
 
Exhibit
Number	 	Description	 	
 	 	 	 	
99.1	 	Press Release, dated October 26, 2006.	 	

 
4

 

		

FOR IMMEDIATE RELEASE
 
CURTISS-WRIGHT REPORTS 2006 THIRD QUARTER AND NINE MONTH FINANCIAL RESULTS
- - -
 
Sales and Operating Income increased 15% and
Net Earnings increased 16% in the Third Quarter of 2006

ROSELAND, NJ – October 26, 2006 – Curtiss-Wright Corporation (NYSE: CW) today reports financial results for the third quarter and nine months ended September 30, 2006. The highlights are as follows:
 
Third Quarter 2006 Operating Highlights
 
•	Net sales for the third quarter of 2006 increased 15% to $311.8 million from $271.4 million in the third quarter of 2005.	
 
•	Operating income in the third quarter of 2006 increased 15% to $37.3 million from $32.4 million in the third quarter of 2005. Operating income was negatively impacted in the third quarter of 2006 by $1.1 million of costs associated with the adoption of FAS 123R and higher pension expense of $0.8 million from the Curtiss-Wright pension plans as compared to the prior year period.	
 
•	Net earnings for the third quarter of 2006 increased 16% to $20.4 million, or $0.46 per diluted share, from $17.5 million, or $0.40 per diluted share, in the third quarter of 2005 (adjusted for 2-for-1 stock split in April 2006).	
 
•	New orders received in the third quarter of 2006 were $324.1 million, up 17% compared to the third quarter of 2005.	

 

Curtiss-Wright Corporation, Page 2
 
Nine Months 2006 Operating Highlights
 
•	Net sales for the first nine months of 2006 increased 11% to $904.0 million from $813.0 million in the first nine months of 2005.	
 
•	Operating income in the first nine months of 2006 increased 2% to $94.9 million from $93.1 million in the first nine months of 2005. Operating income was negatively impacted in the first nine months of 2006 by $3.4 million of costs associated with the adoption of FAS 123R and higher pension expense of $3.6 million from the Curtiss-Wright pension plans as compared to the prior year period. Operating income for the first nine months of 2005 included a one-time gain of $2.8 million related to the sale of non-operating property.	
 
•	Net earnings for the first nine months of 2006 increased 8% to $53.7 million, or $1.21 per diluted share, from $50.0 million, or $1.14 per diluted share, in the first nine months of 2005 (adjusted for 2-for-1 stock split in April 2006). Net earnings for the first nine months of 2006 were favorably impacted by a lower effective tax rate resulting from a Canadian tax benefit of $2.0 million, primarily related to higher than expected research and development credits for 2005, and an adjustment to our deferred tax accounts of $1.6 million based on new Canadian tax legislation which was enacted in late June 2006.	
 
•	New orders received in the first nine months of 2006 were $976.3 million, up 10% compared to the first nine months of 2005. At September 30, 2006, backlog was $893.4 million, up 11% from $805.6 million at December 31, 2005.	

 

Curtiss-Wright Corporation, Page 3
“We are pleased to report higher sales, operating income, and net earnings for the third quarter of 2006,” commented Martin R. Benante, Chairman and CEO of Curtiss-Wright Corporation. “In the third quarter 2006 we experienced solid organic growth in sales of 12% and operating income of 14%. Our year-to-date results continue to be strong despite some unanticipated obstacles, such as unfavorable foreign currency translation and increased material costs. In addition, we incurred significant business integration costs related to our 2006 acquisition in our Flow Control segment. Our commercial markets continue to be strong in the third quarter of 2006 with 12% organic sales growth, driven primarily by the oil and gas market at 28% and the commercial aerospace market at 17%. Our new orders continue to be strong which will provide momentum for our fourth quarter and heading into 2007. In addition, we have a number of military and commercial development contracts and have recently introduced many new products that should provide significant future opportunities.”
 
Sales
 
Sales growth in the three months ended September 30, 2006 was driven by organic growth in our commercial businesses and contributions from our 2006 acquisitions. The base businesses generated overall organic growth of 12% for third quarter of 2006 as compared to the prior year period. Organic sales growth was strong in all three of our operating segments, with Motion Control at 14%, Flow Control at 11%, and Metal Treatment at 9%, as compared to the same period in the prior year. Acquisitions made since June 30, 2005 contributed $7.8 million in incremental sales for the third quarter of 2006, over the comparable prior year period.
 
In our base businesses, higher ground defense and commercial aerospace revenues from our Motion Control segment, higher sales to the oil and gas and commercial power markets from our Flow Control segment, and higher sales of global shot peening and heat treating services from our Metal Treatment segment, all contributed to the quarterly organic sales growth. In addition, foreign currency translation positively impacted sales by $3.1 million for three months ended September 30, 2006, as compared to the prior year period.
 
Operating Income
 
Operating income for the third quarter of 2006 increased 15% over the prior year period. Higher operating income in the third quarter of 2006 resulted from higher sales volume, a favorable sales mix, and cost control initiatives. Our consolidated operating margin for the third quarter of 2006 was essentially flat compared to the prior year period as improvements in the Motion Control and Metal Treatment segments were offset by lower operating margins in the Flow Control segment. The lower margins in our Flow Control segment were due to unfavorable sales mix, business integration costs, and higher material costs.
 
Overall organic operating income growth was 14% for the third quarter of 2006, led by our Motion Control segment at 37% and Metal Treatment segment at 20%. Operating income in the third quarter of 2006 was negatively impacted by $1.1 million of costs associated with the January 1, 2006 adoption of FAS 123R and higher pension expense of $0.8 million from the Curtiss-Wright pension plans. In addition, foreign currency translation adversely impacted operating income by $0.1 million in the third quarter 2006, as compared to the prior year period.

Curtiss-Wright Corporation, Page 4
Net Earnings
 
Net earnings increased 16% for the third quarter of 2006 over the comparable prior year period. Operating income from our business segments increased $6.2 million for the three months ended September 30, 2006, over the prior year period. Higher interest expense due to higher interest rates, partially offset by lower average outstanding debt levels, lowered net earnings in the third quarter of 2006 by $0.5 million over the prior year period.
 
Segment Performance
 
Flow Control – Sales for the third quarter of 2006 were $129.8 million, up 16% over the comparable period last year due to solid organic growth and the contribution from the 2006 acquisition of Enpro Systems. Sales from the base businesses increased 11% in the third quarter of 2006 as compared to the prior year period. This organic sales growth was due to higher sales to the oil and gas market, led by increased demand for the coker valve products, as well as higher sales to the commercial power market due mainly to the timing of plant outages. Sales of this segment were favorably affected by foreign currency translation of $0.4 million in the third quarter of 2006 compared to the prior year period.
 
Operating income for this segment increased 2% in the third quarter of 2006 compared to the prior year period. The benefit of the higher sales volume was mostly offset by less favorable commercial power sales mix and higher material costs. In addition, this segment incurred business integration costs relative to our 2006 acquisition which should generate improved profitability beginning in 2007. Operating income of this segment was favorably affected by foreign currency translation of $0.1 million in the third quarter of 2006 compared to the prior year period.
 
Motion Control – Sales for the third quarter of 2006 of $125.6 million increased 14%, all organic, over the comparable period last year. This growth was due primarily to higher sales of embedded computing products to the ground defense market and increased sales of OEM and spares products and repair and overhaul services to the commercial aerospace market. This growth was partially offset by lower sales to the general industrial and defense aerospace markets. Sales of this segment were favorably affected by foreign currency translation of $1.7 million in the third quarter of 2006 compared to the prior year period.
 
Operating income for this segment increased 37% for the third quarter of 2006 compared to the prior year period. The operating income increase was primarily driven by higher sales volume, favorable sales mix within our embedded computing group, and increased efficiencies as a result of our business integration initiatives. In addition this segment experienced cost overruns on certain military contract work in the third quarter of 2005 that did not repeat in 2006. These improvements were partially offset by unfavorable foreign currency translation of $0.4 million and higher production start up costs relative to new programs.

Curtiss-Wright Corporation, Page 5
Metal Treatment – Sales for the third quarter of 2006 of $56.3 million were 15% higher than the comparable period last year. The improvement was mainly due to organic sales growth of 9% and the contribution from our 2006 acquisition of Allegheny Coatings. The organic sales growth was driven by higher global shot peening revenues in the aerospace and automotive markets along with strong demand in the heat treating business from the general industrial and automotive markets. Sales of this segment were favorably affected by foreign currency translation of $1.0 million in the third quarter of 2006 compared to the prior year period.
 
Operating income increased 21% for the third quarter of 2006 as compared to the prior year period, primarily as a result of the higher sales volume. Operating income of this segment was favorably affected by foreign currency translation of $0.2 million in the third quarter of 2006 compared to the prior year period.
 
Mr. Benante concluded, “In 2006, we continue to demonstrate our ability to generate long-term shareholder value by growing our sales and earnings. Our strong performance demonstrates our ability to execute our growth strategy while continuing to achieve our financial targets. We expect the fourth quarter of 2006 to benefit from the ramp up of our defense programs and the continued strength in our commercial markets, as well as additional benefits achieved from our integration and cost control efforts. Our diversification strategy, the successful integration of our acquisitions, and our continued emphasis on providing advanced new products and technologies should continue to generate growth opportunities in each of our three business segments in 2006 and beyond.”
 
**********
The Company will host a conference call to discuss the third quarter 2006 results at 11:00 EST Friday, October 27, 2006. A live webcast of the call can be heard on the internet by visiting the company’s website at www.curtisswright.com and clicking on the investor information page or by visiting other websites that provide links to corporate webcasts.
 
(Tables to Follow)

 

 

 

Curtiss-Wright Corporation, Page 6
 
CURTISS-WRIGHT CORPORATION and SUBSIDIARIES
CONSOLIDATED STATEMENTS OF EARNINGS
(In thousands, except per share data)

	Three Months Ended
September 30,		Nine Months Ended
September 30,		Three Months
Change		Nine Months
Change		
	2006		2005		2006		2005			$			%			$			%		
 	 	 		 		 		 		 		 		 		 		 	
Net sales	 	 	$	311,801	 	$	271,355	 	$	903,988	 	$	813,035	 	$	40,446	 	 	14.91	%	$	90,953	 	 	11.19	%	
Cost of sales	 	 	 	205,783	 	 	177,840	 	 	600,356	 	 	533,452	 	 	27,943	 	 	15.71	%	 	66,904	 	 	12.54	%	
 	 	 			 			 			 			 			 	 	 	 			 			 	
  Gross profit	 	 	 	106,018	 	 	93,515	 	 	303,632	 	 	279,583	 	 	12,503	 	 	13.37	%	 	24,049	 	 	8.60	%	
Research & development expenses	 	 	 	7,227	 	 	8,504	 	 	28,531	 	 	30,312	 	 	(1,277	)	 	-15.02	% 	 	(1,781	)	 	-5.88	% 	
Selling expenses	 	 	 	19,382	 	 	16,738	 	 	57,004	 	 	51,633	 	 	2,644	 	 	15.80	%	 	5,371	 	 	10.40	%	
General and administrative expenses	 	 	 	41,936	 	 	35,546	 	 	122,720	 	 	106,515	 	 	6,390	 	 	17.98	%	 	16,205	 	 	15.21	%	
Environmental remediation and administrative	 	 		
   expenses, net	 	 	 	273	 	 	188	 	 	362	 	 	844	 	 	85	 	 	45.21	%	 	(482	)	 	-57.11	% 	
(Gain) Loss on sale of real estate and fixed assets	 	 	 	(51	)	 	98	 	 	68	 	 	(2,827	)	 	(149	)	 	-152.04	% 	 	2,895	 	 	102.41	%	
 	 	 			 			 			 			 			 	 	 	 			 			 	
  Operating income	 	 	 	37,251	 	 	32,441	 	 	94,947	 	 	93,106	 	 	4,810	 	 	14.83	%	 	1,841	 	 	1.98	%	
Other (expensess) income, net	 	 	 	(18	)	 	279	 	 	295	 	 	(421	)	 	(297	)	 	-106.45	%	 	716	 	 	-170.07	% 	
Interest expense	 	 	 	(5,721	)	 	(4,912	)	 	(17,103	)	 	(13,993	)	 	(809	)	 	16.47	%	 	(3,110	)	 	22.23	%	
 	 	 			 			 			 			 			 	 	 	 			 			 	
Earnings before income taxes	 	 	 	31,512	 	 	27,808	 	 	78,139	 	 	78,692	 	 	3,704	 	 	13.32	%	 	(553	)	 	-0.70	% 	
Provision for income taxes	 	 	 	11,156	 	 	10,289	 	 	24,413	 	 	28,716	 	 	867	 	 	8.43	%	 	(4,303	)	 	-14.98	% 	
 	 	 			 			 			 			 			 	 	 	 			 			 	
Net earnings	 	 	$	20,356	 	$	17,519	 	$	53,726	 	$	49,976	 	$	2,837	 	 	16.19	%	$	3,750	 	 	7.50	%	
 	 	 			 			 			 			 			 	 	 	 			 			 	
Basic earnings per share	 	 	$	0.46	 	$	0.40	 	$	1.23	 	$	1.16	 	 	 	 	 	 	 	 	 	 	 	 	 	
 	 	 			 			 			 			 	 	 	 	 	 	 	 	 	 	 	 	 	
Diluted earnings per share	 	 	$	0.46	 	$	0.40	 	$	1.21	 	$	1.14	 	 	 	 	 	 	 	 	 	 	 	 	 	
 	 	 			 			 			 			 	 	 	 	 	 	 	 	 	 	 	 	 	
Dividends per share	 	 	$	0.06	 	$	0.05	 	$	0.18	 	$	0.14	 	 	 	 	 	 	 	 	 	 	 	 	 	
 	 	 			 			 			 			 	 	 	 	 	 	 	 	 	 	 	 	 	
Weighted average shares outstanding:	 	 	
   Basic	 	 	 	43,903	 	 	43,376	 	 	43,779	 	 	43,206	 	 	 	 	 	 	 	 	 	 	 	 	 	
   Diluted	 	 	 	44,338	 	 	43,946	 	 	44,254	 	 	43,780	 	 	 	 	 	 	 	 	 	 	 	 	 	
Certain prior year information has been reclassified to conform to current presentation.
Shares and per share amounts have been adjusted on a pro forma basis for the April 21, 2006 2-for-1 stock split.

Curtiss-Wright Corporation, Page 7
 
CURTISS-WRIGHT CORPORATION and SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
 (In thousands)

	September 30,		December 31,			Change		
		2006			2005			$			%		
 		 		 		 		 	
Assets	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
  Current Assets:	 	 		
     Cash and cash equivalents	 	 	$	47,377	 	$	59,021	 	$	(11,644	)	 	-19.7	% 	
     Receivables, net	 	 	 	280,705	 	 	244,689	 	 	36,016	 	 	14.7	%	
     Inventories, net	 	 	 	178,983	 	 	146,297	 	 	32,686	 	 	22.3	%	
     Deferred income taxes	 	 	 	21,268	 	 	28,844	 	 	(7,576	)	 	-26.3	% 	
     Other current assets	 	 	 	13,076	 	 	11,615	 	 	1,461	 	 	12.6	%	
 	 	 			 			 			 	 	 	 	
       Total current assets	 	 	 	541,409	 	 	490,466	 	 	50,943	 	 	10.4	%	
 	 	 			 			 			 	 	 	 	
  Property, plant, and equipment, net	 	 	 	290,080	 	 	274,821	 	 	15,259	 	 	5.6	%	
  Prepaid pension costs	 	 	 	72,121	 	 	76,002	 	 	(3,881	)	 	-5.1	% 	
  Goodwill, net	 	 	 	414,286	 	 	388,158	 	 	26,128	 	 	6.7	%	
  Other intangible assets, net	 	 	 	157,194	 	 	158,267	 	 	(1,073	)	 	-0.7	% 	
  Other assets	 	 	 	12,110	 	 	12,571	 	 	(461	)	 	-3.7	% 	
 	 	 			 			 			 	 	 	 	
       Total Assets	 	 	$	1,487,200	 	$	1,400,285	 	$	86,915	 	 	6.2	%	
 	 	 			 			 			 	 	 	 	
Liabilities	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
  Current Liabilities:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
     Short-term debt	 	 	$	5,941	 	$	885	 	$	5,056	 	 	571.3	%	
     Accounts payable	 	 	 	79,779	 	 	80,460	 	 	(681	)	 	-0.8	% 	
     Accrued expenses	 	 	 	68,800	 	 	74,252	 	 	(5,452	)	 	-7.3	% 	
     Income taxes payable	 	 	 	2,946	 	 	22,855	 	 	(19,909	)	 	-87.1	% 	
     Other current liabilities	 	 	 	55,758	 	 	43,051	 	 	12,707	 	 	29.5	%	
 	 	 			 			 			 	 	 	 	
       Total current liabilities	 	 	 	213,224	 	 	221,503	 	 	(8,279	)	 	-3.7	% 	
  Long-term debt	 	 	 	385,004	 	 	364,017	 	 	20,987	 	 	5.8	%	
  Deferred income taxes	 	 	 	51,512	 	 	53,570	 	 	(2,058	)	 	-3.8	% 	
  Accrued pension & other postretirement benefit costs	 	 	 	72,686	 	 	74,999	 	 	(2,313	)	 	-3.1	% 	
  Long-term portion of environmental reserves	 	 	 	21,477	 	 	22,645	 	 	(1,168	)	 	-5.2	% 	
  Other liabilities	 	 	 	28,294	 	 	25,331	 	 	2,963	 	 	11.7	%	
 	 	 			 			 			 	 	 	 	
       Total Liabilities	 	 	 	772,197	 	 	762,065	 	 	10,132	 	 	1.3	%	
 	 	 			 			 			 	 	 	 	
Stockholders' Equity	 	 		
  Common stock, $1 par value	 	 	 	47,533	 	 	25,493	 	 	22,040	 	 	86.5	%	
  Additional paid in capital	 	 	 	68,813	 	 	59,806	 	 	9,007	 	 	15.1	%	
  Retained earnings	 	 	 	691,823	 	 	667,892	 	 	23,931	 	 	3.6	%	
  Unearned portion of restricted stock	 	 	 	(66	)	 	(12	)	 	(54	)	 	450.0	%	
  Accumulated other comprehensive income	 	 	 	37,322	 	 	20,655	 	 	16,667	 	 	80.7	%	
 	 	 			 			 			 	 	 	 	
 	 	 	 	845,425	 	 	773,834	 	 	71,591	 	 	9.3	%	
  Less: cost of treasury stock	 	 	 	130,422	 	 	135,614	 	 	(5,192	)	 	-3.8	% 	
 	 	 			 			 			 	 	 	 	
       Total Stockholders' Equity	 	 	 	715,003	 	 	638,220	 	 	76,783	 	 	12.0	%	
 	 	 			 			 			 	 	 	 	
       Total Liabilities and Stockholders' Equity	 	 	$	1,487,200	 	$	1,400,285	 	$	86,915	 	 	6.2	%	

 

Curtiss-Wright Corporation, Page 8
CURTISS-WRIGHT CORPORATION and SUBSIDIARIES
SEGMENT INFORMATION
 (In thousands)

	Three Months Ended
September 30,		Nine Months Ended
September 30,	
 	 	 		
 	 	 	2006		2005		%
Change		2006	 	2005	 	%
Change	 	
 	 	 		 		 		 		 		 		 	
Sales:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Flow Control	 	 	$	129,819	 	$	112,126	 	 15.8	%	$	380,277	 	$	335,863	 	 	13.2	%	
Motion Control	 	 	 	125,639	 	 	110,242	 	 	14.0	%	 	356,496	 	 	328,180	 	 	8.6	%	
Metal Treatment	 	 	 	56,343	 	 	48,987	 	 	15.0	%	 	167,215	 	 	148,992	 	 	12.2	%	
 	 	 		 		 	 	 		 		 	 	 	
Total Sales	 	 	$	311,801	 	$	271,355	 	 	14.9	%	$	903,988	 	$	813,035	 	 	11.2	%	
Operating Income:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Flow Control	 	 	$	14,014	 	$	13,800	 	 	1.6	%	$	36,901	 	$	36,905	 	 	0.0	%	
Motion Control	 	 	 	15,310	 	 	11,203	 	 	36.7	%	 	33,436	 	 	30,331	 	 	10.2	%	
Metal Treatment	 	 	 	10,448	 	 	8,618	 	 	21.2	%	 	31,630	 	 	25,547	 	 	23.8	%	
 	 	 		 		 	 	 		 		 	 	 	
Total Segments	 	 	 	39,772	 	 	33,621	 	 	18.3	%	 	101,967	 	 	92,783	 	 	9.9	%	
Corporate & Other	 	 	 	(2,521	)	 	(1,180	)	 	113.6	%	 	(7,020	)	 	323	 	 	-2273.4	%	
 	 	 		 		 		 		 		 		 	
Total Operating Income	 	 	$	37,251	 	$	32,441	 	 	14.8	%	$	94,947	 	$	93,106	 	 	2.0	%	
 	 	 		 		 		 		 		 		 	
Operating Margins:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Flow Control	 	 	 	10.8	%	 	12.3	%	 	 	 	 	9.7	%	 	11.0	%	 	 	 	
Motion Control	 	 	 	12.2	%	 	10.2	%	 	 	 	 	9.4	%	 	9.2	%	 	 	 	
Metal Treatment	 	 	 	18.5	%	 	17.6	%	 	 	 	 	18.9	%	 	17.1	%	 	 	 	
Total Curtiss-Wright	 	 	 	11.9	%	 	12.0	%	 	 	 	 	10.5	%	 	11.5	%	 	 	 	

Curtiss-Wright Corporation, Page 9
About Curtiss-Wright
 
Curtiss-Wright Corporation is a diversified company headquartered in Roseland, New Jersey. The Company designs, manufactures and overhauls products for motion control and flow control applications and provides a variety of metal treatment services. The firm employs approximately 6,300 people. More information on Curtiss-Wright can be found at www.curtisswright.com .
 
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Certain statements made in this release, including statements about future revenue, organic revenue growth, quarterly and annual revenue, net income, organic operating income growth, future business opportunities, cost saving initiatives, and future cash flow from operations, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements present management's expectations, beliefs, plans and objectives regarding future financial performance, and assumptions or judgments concerning such performance. Any discussions contained in this press release, except to the extent that they contain historical facts, are forward-looking and accordingly involve estimates, assumptions, judgments and uncertainties. Such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Such risks and uncertainties include, but are not limited to: a reduction in anticipated orders; an economic downturn; changes in competitive marketplace and/or customer requirements; a change in government spending; an inability to perform customer contracts at anticipated cost levels; and other factors that generally affect the business of aerospace, defense contracting, electronics, marine, and industrial companies. Such factors are detailed in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2005 and subsequent reports filed with the Securities and Exchange Commission.
 
This press release and additional information is available at www.curtisswright.com .
 
Contact:	Alexandra M. Deignan	
 	(973) 597-4734	
 	adeignan@curtisswright.com