BELLEVUE, WA--(Marketwire - September 8, 2010) - Esterline Corporation (
Brad Lawrence, Esterline CEO, said, "... Measurement Specialties is acquiring an excellent manufacturer of specialized pressure sensing technology."
PSI, one of Esterline's smaller operations, is a manufacturer of precision level and pressure instrumentation, principally for environmental and industrial applications. The company also manufactures instrumentation for aerodynamic studies of prototype vehicles in windtunnel research applications.
Esterline anticipates an after-tax gain on the sale of about $10.4 million or $0.34 per share. PSI's FY10 after-tax income through the date of the sale was approximately $0.05 per share, comparable to last year. This $0.39 per share will be reported as discontinued operations at year end, October 29, 2010.
Esterline is a $1.5 billion specialized manufacturing company serving principally aerospace and defense markets. Esterline operates in three business segments related to its set of core competencies: Avionics & Controls, Sensors & Systems, and Advanced Materials.
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