EAST AURORA, N.Y., July 25 /EMWNews/ -- Moog Inc. (NYSE:

MOG.A and MOG.B) announced today third quarter earnings of $31.1 million,

or $.72 per share, an increase of 22% over $.59 per share a year ago. On a

year-to-date basis, Moog's earnings per share were $2.02, up 17% from $1.72

in the year previous.



    Sales for the quarter of $497 million were up 23% from $404 million

last year. Sales year-to-date of $1.412 billion were also up 23%.



    Aircraft sales in the quarter of $175 million were up 17%. The increase

was all in military aircraft. Sales were up on the F-35 Joint Strike

Fighter and the V-22 Tilt Rotor. Military aftermarket sales at $33 million

were up 32% from a year ago.



    Commercial aircraft sales in the quarter were almost the same as a year

ago. Increased sales on business jets offset reduced sales on the Boeing

7-series including the 787 and a 6% reduction in aftermarket revenue.



    Space and Defense sales of $63 million were up 33%. Growth in the core

business came in the Constellation program. Constellation will develop the

systems to replace the Space Shuttle. The recent QuickSet acquisition

provided strong sales in Homeland Security and in Driver Vision Enhancer

systems for MRAP vehicles. The acquisition of CSA Engineering added $2.4

million in sales in the quarter.



    Industrial Segment sales were very strong at $143 million, an increase

of 28% from a year ago. Sales were up in almost every major product line

with the biggest increase in the motion simulator business. Sales of

electric motion bases to CAE and Flight Safety generated a 92% increase to

a total of $21 million. Sales were also up in power generation,

metal-forming equipment, gauge controls for steel mills, and plastic-making

machinery.



    Sales in the Components Segment of $87 million were up 20% from a year

ago. A major part of the increase was equipment supplied to Northrop

Grumman for the Guardian system, a system designed to protect military and

commercial aircraft from shoulder-fired missiles. The biggest percentage

increase in this segment was in the marine market. Sales of $12 million

were up 28%. The Company's products are used by a broad range of customers

involved in offshore oil exploration and production.



    The Company's Medical Devices segment had sales of $28 million, up 27%

from a year ago. Most of the increase was in sales of administration sets

that are used in conjunction with the installed base of intravenous and

enteral pumps.



    The current backlog of $898 million was up 23% from the same quarter a

year ago.



    The Company revised its guidance for the year ending September '08.

Sales are now forecast at $1.887 billion with net earnings of $119 million

and earnings per share of $2.75.



    The Company also provided its initial projection for fiscal '09. Sales

are forecasted in the range of $2.095 billion to $2.125 billion, net

earnings in the range of $134 million to $140 million and earnings per

share between $3.08 and $3.20. Growth in EPS would, therefore, range

between 12% and 16%.



    "Our Company is experiencing remarkable sales growth in every segment",

said R. T. Brady, Chairman and CEO. "A very strong earnings performance in

our Industrial Systems and Components Segments are providing continued

earnings growth while our Aircraft Group is investing heavily in the

development of new airplane programs. Once again, the diversity and balance

in our product portfolio is the key to consistent growth in earnings per

share."



    Moog Inc. is a worldwide designer, manufacturer, and integrator of

precision control components and systems. Moog's high-performance systems

control military and commercial aircraft, satellites and space vehicles,

launch vehicles, missiles, automated industrial machinery, marine and

medical equipment. Additional information about the company can be found at

http://www.moog.com.



    Cautionary Statement



    Information included herein or incorporated by reference that does not

consist of historical facts, including statements accompanied by or

containing words such as "may," "will," "should," "believes," "expects,"

"expected," "intends," "plans," "projects," "estimates," "predicts,"

"potential," "outlook," "forecast," "anticipates," "presume" and "assume,"

are forward- looking statements. Such forward-looking statements are made

pursuant to the safe harbor provisions of the Private Securities Litigation

Reform Act of 1995. These statements are not guarantees of future

performance and are subject to several factors, risks and uncertainties,

the impact or occurrence of which could cause actual results to differ

materially from the expected results described in the forward-looking

statements. These important factors, risks and uncertainties include (i)

fluctuations in general business cycles for commercial aircraft, military

aircraft, space and defense products, industrial capital goods and medical

devices, (ii) our dependence on government contracts that may not be fully

funded or may be terminated, (iii) our dependence on certain major

customers, such as The Boeing Company and Lockheed Martin, for a

significant percentage of our sales, (iv) the possibility that the demand

for our products may be reduced if we are unable to adapt to technological

change, (v) intense competition which may require us to lower prices or

offer more favorable terms of sale, (vi) our significant indebtedness which

could limit our operational and financial flexibility, (vii) the

possibility that new product and research and development efforts may not

be successful which could reduce our sales and profits, (viii) increased

cash funding requirements for pension plans, which could occur in future

years based on assumptions used for our defined benefit pension plans,

including returns on plan assets and discount rates, (ix) a write-off of

all or part of our goodwill, which could adversely affect our operating

results and net worth and cause us to violate covenants in our bank

agreements, (x) the potential for substantial fines and penalties or

suspension or debarment from future contracts in the event we do not comply

with regulations relating to defense industry contracting, (xi) the

potential for cost overruns on development jobs and fixed price contracts

and the risk that actual results may differ from estimates used in contract

accounting, (xii) the possibility that our subcontractors may fail to

perform their contractual obligations, which may adversely affect our

contract performance and our ability to obtain future business, (xiii) our

ability to successfully identify and consummate acquisitions, and integrate

the acquired businesses and the risks associated with acquisitions,

including that the acquired businesses do not perform in accordance with

our expectations, and that we assume unknown liabilities in connection with

the acquired businesses for which we are not indemnified, (xiv) our

dependence on our management team and key personnel, (xv) the possibility

of a catastrophic loss of one or more of our manufacturing facilities,

(xvi) the possibility that future terror attacks, war or other civil

disturbances could negatively impact our business, (xvii) that our

operations in foreign countries could expose us to political risks and

adverse changes in local, legal, tax and regulatory schemes, (xviii) the

possibility that government regulation could limit our ability to sell our

products outside the United States, (xix) product quality or patient safety

issues with respect to our medical devices business that could lead to

product recalls, withdrawal from certain markets, delays in the

introduction of new products, sanctions, litigation, declining sales or

actions of regulatory bodies and government authorities, (xx) the impact of

product liability claims related to our products used in applications where

failure can result in significant property damage, injury or death and in

damage to our reputation, (xxi) the possibility that litigation may result

unfavorably to us, (xxii) our ability to adequately enforce our

intellectual property rights and the possibility that third parties will

assert intellectual property rights that prevent or restrict our ability to

manufacture, sell, distribute or use our products or technology, (xxiii)

foreign currency fluctuations in those countries in which we do business

and other risks associated with international operations and (xxiv) the

cost of compliance with environmental laws. The factors identified above

are not exhaustive. New factors, risks and uncertainties may emerge from

time to time that may affect the forward-looking statements made herein.

Given these factors, risks and uncertainties, investors should not place

undue reliance on forward-looking statements as predictive of future

results. We disclaim any obligation to update the forward-looking

statements made in this report.










                                  MOOG INC.

                     CONSOLIDATED STATEMENTS OF EARNINGS

                (dollars in thousands, except per share data)



                               Three Months Ended        Nine Months Ended

                              June 28,    June 30,     June 28,    June 30,

                                2008        2007         2008        2007



    Net sales                 $496,575    $403,789   $1,411,820  $1,144,684

    Cost of sales              338,084     261,922      956,064     753,646

    Gross profit               158,491     141,867      455,756     391,038



    Research and

     development                30,518      28,299       80,686      76,192

    Selling, general

     and administrative         75,413      68,566      219,634     186,061

    Interest                     9,121       8,348       28,056      20,415

    Other                        (729)         909      (1,746)         985

                               114,323     106,122      326,630     283,653



    Earnings before

     income taxes               44,168      35,745      129,126     107,385



    Income taxes                13,057      10,169       41,712      33,258



    Net earnings               $31,111    $ 25,576      $87,414     $74,127





    Net earnings per share

      Basic                      $ .73        $.60        $2.05       $1.75

      Diluted                    $ .72        $.59        $2.02       $1.72





    Average common shares

     outstanding

      Basic                 42,646,335  42,476,094   42,577,639  42,405,088

      Diluted               43,248,903  43,225,110   43,249,953  43,114,907







                                  MOOG INC.

                   CONSOLIDATED SALES AND OPERATING PROFIT

                            (dollars in thousands)



                               Three Months Ended       Nine Months Ended

                              June 28,    June 30,     June 28,    June 30,

                                2008        2007         2008         2007

    Net Sales

      Aircraft Controls       $175,384    $149,801     $496,581    $426,294

      Space and Defense

       Controls                 63,456      47,835      190,889     138,700

      Industrial Systems       142,854     111,694      395,763     324,757

      Components                87,276      72,764      251,104     210,514

      Medical Devices           27,605      21,695       77,483      44,419

    Net sales                 $496,575    $403,789   $1,411,820  $1,144,684





    Operating Profit

     and Margins

      Aircraft Controls        $12,187     $15,825      $41,530     $43,705

                                  6.9%       10.6%         8.4%       10.3%

      Space and Defense

       Controls                  7,455       6,163       23,298      18,663

                                 11.7%       12.9%        12.2%       13.5%

      Industrial Systems        20,582      15,395       56,759      43,673

                                 14.4%       13.8%        14.3%       13.4%

      Components                15,151      10,877       44,571      33,831

                                 17.4%       14.9%        17.8%       16.1%

      Medical Devices            2,978         829        6,914       4,112

                                 10.8%        3.8%         8.9%        9.3%

    Total operating profit      58,353      49,089      173,072     143,984

                                 11.8%       12.2%        12.3%       12.6%





    Deductions from

     Operating Profit

      Interest expense           9,121       8,348       28,056      20,415

      Equity-based

       compensation expense      1,384         530        3,694       2,730

      Corporate expenses

       and other                 3,680       4,466       12,196      13,454

    Earnings before

     Income Taxes              $44,168     $35,745     $129,126    $107,385







                                  MOOG INC.

                         CONSOLIDATED BALANCE SHEETS

                            (dollars in thousands)



                                                    June 28,    September 29,

                                                      2008           2007



    Cash                                            $ 85,092        $83,856

    Receivables                                      523,767        431,978

    Inventories                                      415,963        359,250

    Other current assets                              72,733         61,767

        Total current assets                       1,097,555        936,851

    Property, plant and equipment                    426,014        386,813

    Goodwill and intangible assets                   645,633        620,349

    Other non-current assets                          69,584         62,166

        Total assets                              $2,238,786     $2,006,179





    Notes payable                                     $4,683         $3,354

    Current installments of long-term debt             1,967          2,537

    Contract loss reserves                            16,844         12,362

    Other current liabilities                        357,926        301,975

        Total current liabilities                    381,420        320,228

    Long-term debt                                   682,348        611,633

    Other long-term liabilities                      212,205        197,106

        Total liabilities                          1,275,973      1,128,967

    Shareholders' equity                             962,813        877,212

        Total liabilities and

         shareholders' equity                     $2,238,786     $2,006,179