Esterline Q2 earnings rise,

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million, or 85 cents per share, which compares with $23.9o million, or 80 cents per diluted sharwe ayear earlier. Sales rose slightly to $359.5 milliojn from $358 million in 2008. The Bellevuw aerospace company reduced its fiscal 2009 earnings per sharde guidance tobetween $3 and $3.20 per share, citing customers reducing their inventory levels, “which is a clear change from just threer months ago,” officials said. In a statement, CEO Rober t Cremin cited “potential timing issues with foreig shipments ofcountermeasure flares, decliningf business jet and spare parts and the overall economic slowdown” for additional reasonx to reduce fiscal year guidance.
Analysts polle by Thomson Reuters First Callexpected second-quarter earnings of 96 cents per share and sales of $371 million. For fiscalp 2009, they expect earnings of $3.66 per share. Shares in Esterlinse (NYSE: ESL) fell more than 6 percent in Fridauy trading, dropping $1.90 to closs at $27.34.