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): November 4, 2014
 
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.

 

13925 Ballantyne Corporate Place, Suite 400
Charlotte, North Carolina	 	28277	
Address of Principal Executive Offices	 	Zip Code	
 
Registrant's telephone number, including area code: (704) 869-4600
--------------
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):
 
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] 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
 
The Corporation is issuing this report to furnish supplemental financial information by reportable segment for each of the prior quarterly reporting periods to reflect the assets held for sale and completed divestitures as reported in the Corporation’s third quarter report on Form 10-Q filed on October 30, 2014. In addition, this supplemental financial information reflects the Corporation’s January 1, 2014 segment reorganization. This supplemental financial information for 2014 and 2013 has been reclassified to conform to the current period presentation.  This information will also be available on the investor relations section of the Corporation’s website.

CURTISS-WRIGHT CORPORATION and SUBSIDIARIES	
SEGMENT INFORMATION (UNAUDITED)	
(In thousands)	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
 	 	Three Months Ended	 	 	 	Nine Months Ended	
 	 	3/31/2014	 	6/30/2014	 	9/30/2014	 	 	 	2014	
Sales:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Commercial/Industrial	 	$	265,100	 	 	$	274,517	 	 	$	273,107	 	 	 	 	$	812,724	 	
Defense	 	173,705	 	 	181,413	 	 	182,790	 	 	 	 	537,908	 	
Energy	 	105,246	 	 	114,479	 	 	103,597	 	 	 	 	323,322	 	
Total sales	 	$	544,051	 	 	$	570,409	 	 	$	559,494	 	 	 	 	$	1,673,954	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Operating income:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Commercial/Industrial	 	$	30,436	 	 	$	36,083	 	 	$	40,096	 	 	 	 	$	106,615	 	
Defense	 	22,406	 	 	24,173	 	 	26,974	 	 	 	 	73,553	 	
Energy	 	15,529	 	 	18,274	 	 	17,491	 	 	 	 	51,294	 	
Total segments	 	$	68,371	 	 	$	78,530	 	 	$	84,561	 	 	 	 	$	231,462	 	
Corporate and other	 	(7,521	)	 	(6,458	)	 	(10,421	)	 	 	 	(24,400	)	
Total operating income	 	$	60,850	 	 	$	72,072	 	 	$	74,140	 	 	 	 	$	207,062	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Operating margins:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Commercial/Industrial	 	11.5	%	 	13.1	%	 	14.7	%	 	 	 	13.1	%	
Defense	 	12.9	%	 	13.3	%	 	14.8	%	 	 	 	13.7	%	
Energy	 	14.8	%	 	16.0	%	 	16.9	%	 	 	 	15.9	%	
Total Curtiss-Wright	 	11.2	%	 	12.6	%	 	13.3	%	 	 	 	12.4	%	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Segment margins	 	12.6	%	 	13.8	%	 	15.1	%	 	 	 	13.8	%	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Diluted earnings per share *	 	$0.74	 	$0.87	 	$0.90	 	 	 	$2.52	

 	

 	
 
CURTISS-WRIGHT CORPORATION and SUBSIDIARIES	
SEGMENT INFORMATION (UNAUDITED)	
(In thousands)	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
 	 	Three Months Ended	 	 	 	
 	 	3/31/2013	 	6/30/2013	 	9/30/2013	 	12/31/2013	 	FY 2013	
Sales:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Commercial/Industrial	 	$	218,789	 	 	$	240,637	 	 	$	240,184	 	 	$	255,688	 	 	$	955,298	 	
Defense	 	176,592	 	 	182,302	 	 	175,728	 	 	232,877	 	 	767,499	 	
Energy	 	100,211	 	 	102,476	 	 	96,497	 	 	100,700	 	 	399,884	 	
Total sales	 	$	495,592	 	 	$	525,415	 	 	$	512,409	 	 	$	589,265	 	 	$	2,122,681	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Operating income:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Commercial/Industrial	 	$	18,644	 	 	$	25,735	 	 	$	31,145	 	 	$	28,792	 	 	$	104,316	 	
Defense	 	16,853	 	 	29,434	 	 	25,521	 	 	44,880	 	 	116,688	 	
Energy	 	14,774	 	 	15,752	 	 	15,102	 	 	11,612	 	 	57,240	 	
Total segments	 	$	50,271	 	 	$	70,921	 	 	$	71,768	 	 	$	85,284	 	 	$	278,244	 	
Corporate and other	 	(9,755	)	 	(12,077	)	 	(6,138	)	 	(13,974	)	 	(41,944	)	
Total operating income	 	$	40,516	 	 	$	58,844	 	 	$	65,630	 	 	$	71,310	 	 	$	236,300	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Operating margins:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Commercial/Industrial	 	8.5	%	 	10.7	%	 	13.0	%	 	11.3	%	 	10.9	%	
Defense	 	9.5	%	 	16.1	%	 	14.5	%	 	19.3	%	 	15.2	%	
Energy	 	14.7	%	 	15.4	%	 	15.7	%	 	11.5	%	 	14.3	%	
Total Curtiss-Wright	 	8.2	%	 	11.2	%	 	12.8	%	 	12.1	%	 	11.1	%	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Segment margins	 	10.1	%	 	13.5	%	 	14.0	%	 	14.5	%	 	13.1	%	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Diluted earnings per share *	 	$0.47	 	$0.71	 	$0.79	 	$0.92	 	$2.90	
* May not add due to rounding	 	 	 	 	 	 	 	 	 	 	 	 	

The information contained in this Current Report 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.

 	

 	
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: November 4, 2014