Woodward Increases Fiscal Year 2014 Earnings Outlook

FORT COLLINS, CO—(Marketwired – Jun 5, 2014) – Woodward, Inc. (NASDAQ: WWD) today announced its revised financial outlook for fiscal year 2014. (All per share amounts are presented on a fully diluted basis.)

Woodward now expects earnings to be between $2.35 and $2.45 per share for the full fiscal year, a significant improvement from its previous outlook of between $2.10 and $2.30 per share. The increased full year outlook for earnings is based on visibility of the results of the first two months of the current quarter and updated firm orders for the remainder of the fiscal year. Additionally, Woodward now expects net sales for the fiscal year to be in the upper end of its previous guidance range of $1.95 and $2.05 billion.

“Our order book has strengthened since we provided our previous outlook,” said Robert F. Weber, Jr., Vice Chairman, Chief Financial Officer and Treasurer. “Improved financial and operational performance, cost control initiatives, and increased confidence in sales volumes throughout our business are contributing to higher than previously expected earnings.”

“We are encouraged by signs of solid growth in many of our end markets and are seeing considerable momentum in our sales orders,” added Thomas A. Gendron, Chairman and Chief Executive Officer. “Our markets continue to strengthen, and we expect increased sales growth and earnings leverage to positively impact our fiscal year 2015 performance as well.”