Esco Technologies Inc. Reports Earnings Results for the Second Quarter Ended March 31, 2021
May 04, 2021 at 02:17 pm EDT
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ESCO Technologies Inc. announced earnings results for the second quarter ended March 31, 2021. For the second quarter, the company announced sales was USD 166.644 million compared to USD 180.492 million a year ago. Net income was USD 16.314 million compared to USD 17.822 million a year ago. Diluted earnings per share was USD 0.62 compared to USD 0.68 a year ago. For the half year, sales was USD 329.593 million compared to USD 352.220 million a year ago. Net income was USD 30.000 million compared to USD 104.599 million a year ago. Diluted earnings per share was USD 1.15 compared to USD 4 a year ago. Diluted earnings per share from continuing operations was USD 1.15 compared to USD 1.09 a year ago.
ESCO Technologies Inc. provides highly engineered products and solutions to diverse and growing end-markets that include the aerospace, defense, space, healthcare, wireless, consumer electronics, electric utility and renewable energy industries. The Company has three segments: Aerospace & Defense (A&D), Utility Solutions Group (USG), and RF Test & Measurement (Test). A&D segment primarily designs and manufactures specialty filtration, fluid control and naval products, including hydraulic filter elements, fluid control devices and precision-tolerance machined components. USG is engaged in the development, manufacture and delivery of diagnostic testing and data management solutions that enable electric power grid operators to assess the integrity of high-voltage power delivery equipment. Test segment designs and manufactures products and systems to measure and control RF and acoustic energy for research and development, regulatory compliance, and medical and security applications.