NEW YORK (TheStreet) -- Woodward Inc. (WWD) reported its third quarter 2014 financial results after the bell today and posted an 8% increase in net sales to $524.3 million, compared to $483.8 million for the year ago quarter.
The company, which designs, manufacturers, and provides energy controls and optimization solutions, said earnings per share for the most recent quarter were 69 cents, compared to 34 cents for the 2013 third quarter.
"Our increase in sales and profitability mainly reflects the stabilization of the global economy, a strong commercial aerospace market, recovery in the renewable power market, and ongoing productivity initiatives," said Woodward chairman and CEO Thomas Gendron.
Separately, TheStreet Ratings team rates WOODWARD INC as a Buy with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation:
"We rate WOODWARD INC (WWD) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its increase in stock price during the past year, growth in earnings per share, increase in net income, largely solid financial position with reasonable debt levels by most measures and good cash flow from operations. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity."