Esterline, the Bellevue-based aerospace supplier, reported lower than expected second-quarter sales and profit Thursday and trimmed its 2013 earnings outlook.
The company said sales were $499.6 million, compared to $504.8 million a year earlier and analysts’ forecast of $509.6 million for the latest quarter. Quarterly profit was $1.12 a share, 9 percent below the analyst consensus, according to Bloomberg.
Esterline revised its guidance for full-year earnings to between $5.30 and $5.50 per share. In December it had forecast profits of $5.45 to $5.80 per share.
A company statement cited “headwinds in global defense markets and a slower-than-anticipated recovery of the European economy” for contributing to the shortfall. It gave the example of Beechcraft, which reduced the build rate for the T-6B Navy trainer by nearly 15 percent, affecting Esterline’s output of the plane’s integrated glass cockpit.
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Esterline shares closed down $1.96, or 2.6 percent, to $73.70 Thursday, and fell another 2.2 percent in after-hours trading.
The company’s local presence includes Korry Electronics, which makes cockpit controls, switches and displays in Everett; and Hytek Finishes, a metal-finishing shop in Kent.