Esterline Technologies ( ESL) reported on December 11, 2008, that its fourth-quarter fiscal 2008 earnings more than doubled to $43.88 million from $20.89 million in the prior year's quarter, bolstered by a strengthening U.S. dollar. On a per share basis, net earnings stood at $1.46 per share compared to $0.78 per share a year ago. The latest quarterly earnings beat the most recent consensus estimate of $1.05 per share. Looking forward to fiscal 2009, the company expects earnings to be in the range of $3.70 per share to $3.90 per share. During the quarter under review, net sales surged 13.7% to $404.35 million from $355.70 million in the comparable quarter of the last year, driven by strong revenue growth across segments. Esterline's gross profit margin improved 292 basis points to 34.71% from 31.80% during fourth-quarter 2007, as higher revenue offset an 8.8% increase in cost of sales. Similarly, operating margin improved 519 basis points to 14.96% from 9.78%. Backlog at the end of FY08 was $1.10 billion, an increase of 14.0% over last year. Revenue during FY08 swelled 22.9% to $1.48 billion from $1.21 billion in the previous year. Net profit for the year mounted 30.6% to $120.53 million or $4.03 per share compared to $92.28 million or $3.52 per share in FY07. Recently, the company agreed to acquire NMC Group (Nylon Molding Corporation) for approximately $90.00 million. Revenue from avionics and controls soared 14.4% to $173.46 million from $151.61 million while sensors and systems' increased 6.7% to $89.99 million from $84.36 million a year ago. Revenue from advanced materials jumped 17.7% to $140.90 million from $119.72 million in the last year's quarter. Total backlog at the end of the quarter stood at $469.40 million, up 31.0% year-over-year. Once these most recent quarterly results are finalized, they will be run through TheStreet.com Ratings' model and our ratings will be adjusted accordingly. To keep up to date on all of our ratings, visit TheStreet.com Ratings Screener.