Moog Inc. reported consolidated earnings results for the first quarter ended December 30, 2017. For the quarter, the company announced net sales of $627.535 million against $589.670 million a year ago. Earnings before income taxes were $47.834 million against $36.488 million a year ago. Net earnings attributable to the company were $1.299 million or $0.04 per diluted share against $30.564 million or $0.84 per diluted share a year ago. Non-GAAP adjusted net earnings attributable to the company were $33.656 million or $0.93 per diluted share against $30.564 million or $0.84 per diluted share a year ago. Net cash provided by operating activities was $44.170 million against $50.582 million last year. Purchase of property, plant and equipment was $21.084 million against $14.849 million last year. Net debt decreased $22 million compared to free cash flow of $23 million.

For the fiscal year 2018, the company forecasts sales of $2.62 billion, up 5% unchanged from 90 days ago, operating margins of 11.0%, unchanged from 90 days ago, non-GAAP adjusted diluted earnings per share of $4.10, plus or minus $0.20, unchanged from 90 days ago, excluding the impacts of the Tax Act, GAAP forecasted range for full-year earnings per share is $3.43, plus or minus $0.20, including the impacts of the Tax Act and cash flow from operations, including incremental accelerated pension contributions of $180 million. The company forecasts CapEx remains unchanged at $95 million. D&A in 2018 will be about $90 million.