Woodward Governor 2Q Profit Falls But Beats Street

FORT COLLINS, Colo. (AP) — Woodward Governor Co., which makes energy control systems for aircraft, said Wednesday that its second-quarter profit fell 38 percent because of restructuring charges, but results still topped Wall Street expectations and the company raised the low end of its 2009 profit guidance slightly.

Shares jumped $1.48, or nearly 10 percent, to $16.48 in aftermarket trading, having closed earlier up 82 cents, or 5.8 percent, at $15.

The company said earnings slid to $18.5 million, or 27 cents per share, during the quarter that ended March 31, from $29.7 million, or 43 cents per share, during the same period last year. Excluding restructuring charges of $16.6 million, the company would have earned 43 cents per share in the latest period. ...