ESCO Announces Fiscal 2010 Fourth Quarter Results: EPS of $0.89

ESCO Technologies Inc. ESE today reported its operating results for the fourth quarter and fiscal year ended September 30, 2010. EPS is presented from “Continuing Operations” and “Discontinued Operations”. Fiscal 2009 discontinued operations include the results of Comtrak which was sold in March 2009. Fourth Quarter 2010 Summary * Net sales were a record $207.9 million, an increase of $38.5 million, or 22.7 percent, over Q4 2009 sales of $169.4 million; * Sequentially, Q4 2010 net sales increased $50.3 million, or 31.9 percent, over Q3 2010 sales of $157.6 million; * Earnings before income taxes were $36.6 million, representing a 54-percent increase over Q4 2009 earnings before income taxes of $23.8 million; * The effective tax rate in Q4 2010 was 34.8 percent, contrasted with 8.5 percent in Q4 2009. The 2009 tax rate reflected the favorable settlement of uncertain tax positions; * EPS was $0.89 per share, an increase of $0.07 per share over Q4 2009 EPS of $0.82 per share. The lower tax rate in 2009 positively impacted 2009's EPS by $0.19 per share;