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): April 28, 2011
 
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.	
 
10 Waterview Boulevard
Parsippany, New Jersey	07054	
Address of Principal Executive Offices	Zip Code	
        
Registrant's telephone number, including area code: (973) 541-3700
--------------
(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 .

On Thursday, April 28, 2011, the Company issued a press release announcing financial results for the first quarter ended March 31, 2011.  A copy of this press release and slide presentation is attached hereto as Exhibits 99.1 and 99.2.  A conference call and webcast presentation will be held on Friday, April 29, 2011 at 10:00 am EDT for management to discuss the Company's 2011 first quarter performance.  Martin R. Benante, Chairman and CEO, and Glenn E. Tynan, CFO, will host the call.

The financial press release, slide presentation 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.

Conference Call Replay:

Domestic                        (800) 642-1687
International                  (706) 645-9291
Passcode                        56560025

The information contained in this Current Report, including Exhibits 99.1 and 99.2, are 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 April 28, 2011

99.2 Presentation shown during investor and securities analyst webcast on April 29, 2011

 

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: April 29, 2011

 

EXHIBIT INDEX

Exhibit
Number	 	Description	 	
 	 	 	 	
99.1
99.2 	 	Press Release dated April 28, 2011
Presentation shown during investor and securities analyst webcast on April 29, 2011	 	

EXHIBIT 99.1
Curtiss-Wright Reports First Quarter 2011 Financial Results
Net Sales Increased 5%; Operating Income Increased 34%; Operating Margin Improved 200 Basis Points; Diluted EPS of $0.52; Raised Full Year 2011 Guidance
PARSIPPANY, N.J., April 28, 2011 (GLOBE NEWSWIRE) -- Curtiss-Wright Corporation (NYSE:CW) today reports financial results for the first quarter ended March 31, 2011. The highlights are as follows:
First Quarter 2011 Operating Highlights
·	Net sales increased 5% to $462 million from $442 million in 2010;
·	Operating income increased 34% to $42 million from $31 million in 2010;
·	Net earnings increased 50% to $25 million, or $0.52 per diluted share, from $16 million, or $0.35 per diluted share, in 2010; and
·	New orders were $488 million, down 3% from 2010, which included several large naval orders for the Virginia class submarine program.  At March 31, 2011, our backlog was $1.71 billion, up 2% from $1.67 billion at December 31, 2010.   
"We recorded our strongest first quarter in recent history with increased revenues, strong operating income growth and operating margin expansion of 200 basis points," commented Martin R. Benante, Chairman and CEO of Curtiss-Wright Corporation. "Our continued focus on the efficiency of our operations and cost reduction initiatives yielded strong operating income growth and margin expansion across all three of our segments. We were also encouraged by the strong demand for our products and services in commercial markets where new orders were up 11% over the prior year.
"From a market perspective, sales in our commercial markets grew 4%, led by strong double-digit growth in both general industrial and commercial aerospace, which grew 22% and 11%, respectively, over the prior year. In addition, our defense markets grew 5% over the prior year, driven by higher sales in both aerospace and naval defense, as we continued to experience solid sales related to our content on submarines, helicopters, and Intelligence, Surveillance, and Reconnaissance or ISR applications, such as unmanned aerial vehicles."
Sales
Sales of $462 million in the first quarter of 2011 increased $20 million, or 5%, compared to the prior year period. The sales increase was primarily generated by the Metal Treatment and Motion Control segments, which grew 17% and 8%, respectively. Sales within the Flow Control segment were essentially flat compared to the prior year period. Our 2010 and first quarter 2011 acquisitions, entirely within the Motion Control segment, contributed $7 million in sales to the current year.
From a market perspective, the defense market generated strong growth in both aerospace and naval defense, which grew 10% and 9%, respectively, over the prior year period, partially offset by a decline in ground defense of 12% due to the cancellation of the Future Combat System ("FCS") program and lower sales on the Bradley platform. In addition, sales grew within most of our commercial markets, most notably general industrial and commercial aerospace, which increased 22% and 11%, respectively, compared to the prior year period.  These increases were partially offset by a 17% decline in the oil and gas market that was driven by the timing of new orders for domestic and international capital projects.
Operating Income
Operating income of $42 million in the first quarter of 2011 increased $11 million, or 34%, compared to the prior year period.  Operating income growth was generated across all three of our segments with increases of 67% in Metal Treatment, 17% in Motion Control, and 12% in Flow Control. Foreign currency translation had an unfavorable impact of $1 million, or 3%, on current year results. 
In the first quarter of 2011, segment operating margin was 9.7%, a 140 basis point improvement compared to the prior year period. The profit improvement was due to higher volumes and favorable absorption in the general industrial and commercial aerospace markets, as well as benefits generated by our cost reduction and restructuring programs. These improvements were partially offset by higher costs on certain long-term contracts in both the current and prior year periods.
Non-segment operating costs of $3 million in the first quarter of 2011 decreased by $2 million compared with the prior year period. This decrease was mainly due to lower medical expenses and lower foreign exchange transaction losses.  
Net Earnings
Net earnings for the first quarter of 2011 increased 50% from the comparable prior year period. The improvement was mainly due to higher operating income, a lower effective tax rate, and lower interest expense. Lower interest expense for the first quarter of 2011 was due to lower average debt levels compared to the prior year period. Our effective tax rate for the first quarter of 2011 was 33.0% versus 36.1% for the first quarter of 2010. The lower effective tax rate was primarily due to a one–time tax charge recorded in the prior year associated with a change in the healthcare law.
Cash Flow
Free cash flow was a negative $62 million for the first quarter of 2011, a $28 million reduction compared to the prior year period.  Net cash used in operating activities increased by $20 million from the prior year period, mainly due to higher pension contributions and higher working capital requirements, specifically inventory and accounts receivable. Capital expenditures were $19 million in the first quarter of 2011, an increase of $8 million from the prior year period, largely driven by our oil and gas facility expansion in Texas.   
Segment Performance
Flow Control – Sales for the first quarter of 2011 were $239 million and were essentially flat compared to the prior year period as strong growth within the general industrial and naval defense markets was largely offset by declines within the oil and gas market. The double-digit increase in the general industrial market resulted from higher demand of industrial control products for the industrial heating, ventilation, and air conditioning ("HVAC") industries. Growth within our naval defense market was due to higher sales on the Virginia class submarine program, as we continue to ramp-up from one to two submarines per year. In addition, we had higher sales resulting from increases in production on the CVN-79 Ford class aircraft carrier program due to the transition from the CVN-78 program. The declines in the oil and gas market were driven by the timing of new orders, primarily from international customers.   
Operating income in the first quarter of 2011 was $19 million, an increase of 12% over the comparable prior year period. Operating margin increased 90 basis points from the prior year period due to favorable absorption of overhead costs in our general industrial and naval defense markets and benefits generated by cost reduction and restructuring programs. These improvements were somewhat mitigated by higher than anticipated costs on several long-term contracts within the oil and gas business.  
Motion Control – Sales for the first quarter of 2011 were $160 million, an increase of $12 million, or 8%, over the comparable prior year period. We experienced strong sales growth in both our commercial and defense markets, which grew 14% and 5%, respectively. The double-digit growth in our commercial markets was largely driven by higher demand for both embedded computing and sensor products to the general industrial market. In addition, the growth in the commercial aerospace market was due to increases on Boeing 737, 747, and 787 aircraft, as well as increased demand for sensors and controls products on various commercial aircraft. To a lesser extent, we experienced growth within the defense markets, mainly due to strong demand in aerospace and naval defense, partially offset by a decline in ground defense. The increase in the aerospace defense market was driven by higher sales of our embedded computing and sensing products on various helicopter programs, such as the Blackhawk and Apache. The increase in naval defense was mainly due to sales of our embedded computing products used in various naval applications. These increases were partially offset by a decrease in the ground defense market, driven primarily by the cancellation of the FCS program, as well as lower sales on the Bradley platform.  Our 2011 and 2010 acquisitions of Predator Systems Incorporated, Hybricon Corporation, and Specialist Electronics Services Ltd. contributed $7 million in sales in the current year.
Operating income for the first quarter of 2011 was $16 million, an increase of $2 million, or 17%, compared to the prior year period. Operating margin improved to 10.2% in the first quarter of 2011, an increase of 70 basis points from the first quarter of 2010. This strong growth was achieved despite $1 million in losses from our recent acquisitions, which have higher amortization expense in the early periods of ownership, and $1 million of unfavorable foreign currency translation. Excluding the impact of acquisitions and the negative impact of foreign currency translation, operating margin improved by 240 basis points over the prior year quarter. This improvement was mainly due to benefits generated by our cost reduction and restructuring programs. 
Metal Treatment – Sales for the first quarter of 2011 were $63 million, an increase of $9 million, or 17%, compared to the prior year period. We continue to see positive signs and increased demand for our products and services across all major lines of business and markets, most notably for shot peening, heat treating, and coating services to commercial markets.
Operating income in the first quarter of 2011 was $10 million, an increase of $4 million, or 67%, compared to the prior year period. Operating margin amounted to 16.0%, a 470 basis point improvement over the prior year. This significant improvement was primarily driven by higher sales volumes resulting in favorable absorption of fixed overhead costs, mainly in our shot peening and heat treating businesses. 
Full Year 2011 Guidance
The Company is updating its full year 2011 financial guidance as follows:

. Total Sales	$2.010 -- $2.040 billion (previously $1.960 -- $1.990 billion) 	
·  Operating Income	$207 -- $214 million (previously $200 -- $207 million) 	
·  Diluted Earnings Per Share	$2.58 -- $2.68 (previously $2.48 -- $2.58) 	
·  Effective Tax Rate	33.0% (no change)	
·  Diluted Shares Outstanding	47.3 million (no change)	
·  Free Cash Flow	$90 -- $100 million (no change)	
(Free cash flow is defined as cash flow from operations less capital expenditures and includes estimated payments of $32 million to the Curtiss-Wright Pension Plan in 2011)
Note: A more detailed breakdown of our 2011 guidance by segment and by market can be found on the attached accompanying schedules.
Mr. Benante concluded, "We are off to a great start in 2011 and are increasing our full year sales, operating income, and diluted earnings per share guidance to reflect our solid backlog, strong first quarter operational performance in our Metal Treatment segment, and completion of recent acquisitions.  Our efforts during the recent economic downturn and consistent focus on strategic investments, diversification, and operational efficiency have positioned us to benefit by allowing us to grow profitability faster than sales through the increased demand for our products and services. We continue to make substantial strategic investments in new product development, new programs, and new facilities that will make us even more competitive in the future.  We are greatly encouraged by our first quarter performance and look forward to delivering strong results for the remainder of the year."
The Company will host a conference call to discuss the first quarter 2011 results at 10:00 A.M. EDT on Friday, April 29, 2011.  A live webcast of the call and the accompanying financial presentation will be made available on the internet by visiting the Investor Relations section of the Company's website at  www.curtisswright.com.

CURTISS-WRIGHT CORPORATION and SUBSIDIARIES	
CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (UNAUDITED)	
(In thousands, except per share data)	

 	Three Months Ended	 	
 	March 31,	Change	
 	2011	2010	$	%	
 	 	 	 	 	
Net sales	 $ 461,850	 $ 441,775	 $ 20,075	4.5%	
Cost of sales	312,881	303,791	 9,090	3.0%	
 Gross profit	148,969	137,984	10,985	8.0%	
 	 	 	 	 	
Research and development expenses	13,597	13,838	(241)	(1.7%)	
Selling expenses	29,223	27,820	1,403	5.0%	
General and administrative expenses	64,466	65,242	(776)	(1.2%)	
 	 	 	 	 	
 Operating income	41,683	31,084	10,599	34.1%	
 	 	 	 	 	
Interest expense	(5,121)	(5,667)	546	9.6%	
Other income, net	56	152	(96)	(63.2%)	
 	 	 	 	 	
Earnings before income taxes	36,618	25,569	11,049	43.2%	
Provision for income taxes	12,102	9,234	2,868	31.1%	
 	 	 	 	 	
Net earnings	 $ 24,516	 $ 16,335	 $ 8,181	50.1%	
 	 	 	 	 	
Basic earnings per share	 $ 0.53	 $ 0.36	 	 	
Diluted earnings per share	 $ 0.52	 $ 0.35	 	 	
 	 	 	 	 	
Dividends per share	 $ 0.08	 $ 0.08	 	 	
 	 	 	 	 	
Weighted average shares outstanding:	 	 	 	 	
 Basic	46,195	45,642	 	 	
 Diluted	46,974	46,158	 	 	

CURTISS-WRIGHT CORPORATION and SUBSIDIARIES	
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)	
(In thousands, except par value)	

 	 	 	 	 	 	
 	 	March 31,	December 31,	Change	
 	 	2011	2010	$	%	
Assets	 	 	 	 	
 Current assets:	 	 	 	 	
Cash and cash equivalents	 	 $ 51,966	 $ 68,119	 $ (16,153)	(23.7%)	
Receivables, net	 	 500,212	 461,632	38,580	8.4%	
Inventories, net	 	 308,709	 281,103	27,606	9.8%	
Deferred tax assets, net	 	 49,188	 48,568	620	1.3%	
Other current assets	 	 33,102	 40,605	(7,503)	(18.5%)	
 Total current assets	 	943,177	900,027	43,150	4.8%	
 Property, plant, and equipment, net	 406,906	 397,280	9,626	2.4%	
 Goodwill	 703,858	 693,572	10,286	1.5%	
 Other intangible assets, net	 240,934	 240,197	737	0.3%	
 Deferred tax assets, net	 1,076	 1,033	43	4.2%	
 Other assets	 10,162	 9,909	253	2.6%	
 Total assets	 	 $ 2,306,113	 $ 2,242,018	  $ 64,095	2.9%	
 	 	 	 	 	 	
Liabilities	 	 	 	 	
 Current liabilities:	 	 	 	 	
Current portion of long-term and short term debt	 	 $ 2,590	 $ 2,602	 $ (12)	(0.5%)	
Accounts payable	 	 120,232	 133,180	(12,948)	(9.7%)	
Dividends payable	 	 3,717	 -- 	3,717	100.0%	
Accrued expenses	 	 78,422	 99,966	(21,544)	(21.6%)	
Income taxes payable	 	 1,863	 3,111	(1,248)	(40.1%)	
Deferred revenue	 	 152,351	 146,770	5,581	3.8%	
Other current liabilities	 	 44,813	 42,310	2,503	5.9%	
 Total current liabilities	 	403,988	427,939	(23,951)	(5.6%)	
 	 	 	 	 	 	
 Long-term debt	 447,014	 394,042	52,972	13.4%	
 Deferred tax liabilities, net	 25,975	 26,815	(840)	(3.1%)	
 Accrued pension and other postretirement benefit costs	 155,665	 166,591	(10,926)	(6.6%)	
 Long-term portion of environmental reserves	 19,122	 19,091	31	0.2%	
 Other liabilities	 46,208	 47,437	(1,229)	(2.6%)	
 Total liabilities	 	1,097,972	1,081,915	16,057	1.5%	
 	 	 	 	 	 	
Stockholders' equity	 	 	 	 	
 Common stock, $1 par value	 48,717	 48,558	159	0.3%	
 Additional paid in capital	 135,912	 130,093	5,819	4.5%	
 Retained earnings	 1,093,258	 1,072,459	20,799	1.9%	
 Accumulated other comprehensive income (loss)	 15,352	 (2,813)	18,165	645.8%	
 	 	1,293,239	1,248,297	44,942	3.6%	
 Less: cost of treasury stock	 85,098	 88,194	(3,096)	(3.5%)	
 Total stockholders' equity	 	1,208,141	1,160,103	48,038	4.1%	
 	 	 	 	 	 	
 Total liabilities and stockholders' equity	 	 $ 2,306,113	 $ 2,242,018	  $ 64,095	2.9%	

CURTISS-WRIGHT CORPORATION and SUBSIDIARIES	
SEGMENT INFORMATION (UNAUDITED)	
(In thousands)	

 	Three Months Ended	
 	March 31,	
 	 	 	Change	
 	2011	2010	%	
Sales:	 	 	 	
Flow Control	 $ 239,140	 $ 240,731	(0.7%)	
Motion Control	 159,780	 147,373	8.4%	
Metal Treatment	 62,930	 53,671	17.3%	
 	 	 	 	
Total sales	 $ 461,850	 $ 441,775	4.5%	
 	 	 	 	
Operating income:	 	 	 	
Flow Control	 $ 18,632	 $ 16,669	11.8%	
Motion Control	 16,286	 13,953	16.7%	
Metal Treatment	 10,057	 6,040	66.5%	
 	 	 	 	
Total segments	 $ 44,975	 $ 36,662	22.7%	
Corporate and other	 (3,292)	 (5,578)	41.0%	
 	 	 	 	
Total operating income	 $ 41,683	 $ 31,084	34.1%	

Operating margins:	 	 	 	
Flow Control	7.8%	6.9%	 	
Motion Control	10.2%	9.5%	 	
Metal Treatment	16.0%	11.3%	 	
Total Curtiss-Wright	9.0%	7.0%	 	
 	 	 	 	
Segment margins	9.7%	8.3%	 	
 	
CURTISS-WRIGHT CORPORATION and SUBSIDIARIES	
NON-GAAP FINANCIAL DATA (UNAUDITED)	
(In thousands)	

 	Three Months Ended	
 	March 31,	
 	2011	 	2010	
 	 	 	 	
Net cash used in operating activities	 $ (42,785)	 	 $ (22,999)	
Capital expenditures	 (19,245)	 	 (10,878)	
Free cash flow (1)	 $ (62,030)	 	 $ (33,877)	
 	 	 	 	
Cash conversion (1)	(253%)	 	(207%)	
 	 	 	 	
(1) The Corporation discloses free cash flow and cash conversion because the Corporation believes
they are measurements of cash flow available for investing and financing activities. Free cash flow is
defined as net cash flow provided by operating activities less capital expenditures. Free cash flow
represents cash generated after paying for interest on borrowings, income taxes, capital expenditures,
and working capital requirements, but before repaying outstanding debt and investing cash or utilizing
debt credit lines to acquire businesses and make other strategic investments. Cash conversion is defined
as free cash flow divided by net earnings. Free cash flow, as we define it, may differ from similarly named
measures used by other entities and, consequently, could be misleading unless all entities calculate and
define free cash flow in the same manner.	
 	
CURTISS-WRIGHT CORPORATION	
2011 Earnings Guidance - As of April 28, 2011	
(In millions, except per share data)	

 	 	2011 Guidance	Change	
 	2010 Actual	Low	High	%	
Sales:	 	 	 	 	
Flow Control	 $ 1,025	 $ 1,075	 $ 1,085	5-6%	
Motion Control	 647	 670	 680	4-5%	
Metal Treatment	 221	 265	 275	20-24%	
Total sales	 $ 1,893	 $ 2,010	 $ 2,040	6-8%	
 	 	 	 	 	
Operating income:	 	 	 	 	
Flow Control	 $ 104	 $ 115	 $ 118	10-13%	
Motion Control	 80	 83	 85	3-5%	
Metal Treatment	 26	 37	 40	43-55%	
Total segments	 $ 211	 $ 235	 $ 243	11-15%	
Corporate and other	 (31)	 (28)	 (29)	 	
Total operating income	 $ 180	 $ 207	 $ 214	15-19%	
 	 	 	 	 	
Operating margins:	 	 	 	 	
Flow Control	10.2%	10.7%	10.9%	 	
Motion Control	12.4%	12.3%	12.4%	 	
Metal Treatment	11.7%	14.0%	14.5%	 	
Total operating margin	9.5%	10.3%	10.5%	 	

Interest expense, net	 (22)	 (25)	 (25)	 	
Earnings before income taxes	 158	 182	 189	 	
Provision for income taxes	 (52)	 (60)	 (62)	 	
Net earnings	 $ 107	 $ 122	 $ 127	14-19%	
 	 	 	 	 	
Diluted earnings per share	 $ 2.30	 $ 2.58	 $ 2.68	12-16%	
Diluted shares outstanding	46.3	47.3	47.3	 	
 	 	 	 	 	
Free cash flow (1)	 $ 119	 $ 90	 $ 100	 	
Depreciation and amortization	 $ 80	 $ 82	 $ 82	 	
Effective tax rate	32.7%	33.0%	33.0%	 	
 	 	 	 	 	
(1) Free cash flow is defined as cash flow from operations less capital expenditures and includes estimated payments of $32 million to the Curtiss-Wright Pension Plan in 2011	
 	 	 	 	 	
*Full year amounts may not add due to rounding	 	 	
 	 	 	 	 	
2011 Guidance by Markets - As of April 28, 2011	
(In millions)	
 	 	 	 	 	
 	 	2011 Guidance*	Change	
 	2010 Actual*	Low	High	%	
 	 	 	 	 	
Defense markets:	 	 	 	 	
Defense Aerospace	 269	 273	 277	1-3%	
Defense Ground	 124	 134	 137	8-10%	
Defense Navy	 365	 377	 382	3-5%	
Other Defense	 27	 23	 24	(8-12%)	
Total Defense	 784	 807	 820	3-5%	
 	 	 	 	 	
Commercial markets:	 	 	 	 	
Commercial Aerospace	 248	 292	 298	18-20%	
Oil & Gas	 259	 261	 266	1-3%	
Power Generation	 357	 358	 362	1-2%	
General Industrial/Auto	 244	 291	 295	19-21%	
Total Commercial	 1,109	 1,203	 1,221	8-10%	
 	 	 	 	 	
Total Curtiss-Wright	 1,893	 2,010	 2,040	6-8%	
 	 	 	 	 	
*Full year amounts may not add due to rounding	 	 	 	 	
About Curtiss-Wright
Curtiss-Wright Corporation is a diversified company headquartered in Parsippany, 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 7,700 people. More information on Curtiss-Wright can be found at www.curtisswright.com.
The Curtiss-Wright Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7709
Certain statements made in this release, including statements about future revenue, financial performance guidance, quarterly and annual revenue, net income, 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, 2010, as amended, and subsequent reports filed with the Securities and Exchange Commission.
This press release and additional information are available at www.curtisswright.com.
CONTACT: Jim Ryan
         (973) 541-3766
         Jim.Ryan@curtisswright.com