Historical Financial Performance
Five-Year Review
| For the years ended December 31, (In millions, except per share data; unaudited) |
2009 |
2008 |
2007 |
2006 |
2005 |
Performance |
|
|
|
|
|
| Net sales |
$1,809.7 |
$1,830.1 |
$1,592.1 |
$1,282.2 |
$1,130.9 |
| Earnings before interest, taxes, depreciation and amortization |
246.8 |
272.4 |
244.3 |
191.3 |
186.1 |
| Net earnings |
95.2 |
109.4 |
104.3 |
80.6 |
75.3 |
| Cash flow from operations |
196.6 |
179.8 |
139.1 |
143.9 |
105.2 |
| Earnings per share(1) |
|
|
|
|
|
| Basic |
$2.10 |
$2.45 |
$2.35 |
$1.84 |
$1.74 |
| Diluted |
2.08 |
2.41 |
2.32 |
1.82 |
1.72 |
| Dividends per share(1) |
0.32 |
0.32 |
0.28 |
0.24 |
0.20 |
| Return on sales |
5.3% |
6.0% |
6.6% |
6.3% |
6.7% |
| Return on invested capital(2) |
8.1% |
9.5% |
10.3% |
9.9% |
9.6% |
| New orders |
$1,730.5 |
$2,232.1 |
$1,870.4 |
$1,333.0 |
$1,261.2 |
| Backlog at year end |
$1,626.9 |
$1,679.2 |
$1,303.8 |
$875.5 |
$805.6 |
Year-end financial position |
|
|
|
|
|
| Working capital |
$313.2 |
$350.0 |
$359.6 |
$330.5 |
$269.0 |
| Current ratio |
1.6 to 1 |
1.8 to 1 |
1.9 to 1 |
2.1 to 1 |
2.2 to 1 |
| Total assets |
$2,142.0 |
$2,042.0 |
$1,985.6 |
$1,592.2 |
$1,400.3 |
| Total debt |
$465.1 |
$516.7 |
$511.9 |
$364.9 |
$364.9 |
| Stockholders' equity |
$1,026.8 |
$866.8 |
$914.8 |
$762.1 |
$638.2 |
| Stockholders' equity per share (1) |
$22.50 |
$19.23 |
$20.51 |
$17.31 |
$14.68 |
Other year-end data |
|
|
|
|
|
| Free cash flow (3) |
$120.9 |
$76.2 |
$84.7 |
$103.7 |
$62.7 |
| Depreciation and amortization |
$76.5 |
$74.3 |
$62.7 |
$50.8 |
$47.9 |
| Capital expenditures |
$75.6 |
$103.7 |
$54.4 |
$40.2 |
$42.4 |
| Shares of stock outstanding at December 31, (1) (4) |
45,624 |
45,065 |
44,593 |
44,023 |
43,492 |
| Number of registered shareholders |
5,797 |
6,193 |
6,331 |
6,762 |
7,069 |
| Number of employees |
7,572 |
7,968 |
7,471 |
6,233 |
5,892 |
Note: Amounts may not add to the total due to rounding.
(1) Per share data for all years have been adjusted to reflect a 2-for-1 stock split on April 21, 2006, and December 17, 2003. CW Class B shares, which were converted to CW common shares in May 2005, have the same split and dividend history as the CW common shares.
(2) Return on invested capital is net operating profit after tax over average net debt plus equity.
(3) Free cash flow is defined as net cash flow provided by operating activities less capital expenditures.
(4) In 2001, CW issued Class B Common Stock, which was converted to Common Stock in 2005.
Stock Price Range
| Common |
2009 |
|
|
2008 |
|
|
High |
Low |
|
High |
Low |
| First quarter |
$36.06 |
$22.62 |
|
$50.16 |
$37.65 |
| Second quarter |
33.20 |
27.33 |
|
52.96 |
41.30 |
| Third quarter |
36.67 |
27.52 |
|
56.07 |
41.62 |
| Fourth quarter |
35.20 |
27.97 |
|
45.37 |
24.80 |
Dividends per Share
| Common |
2009 |
2008 |
| First quarter |
$0.08 |
$0.08 |
| Second quarter |
0.08 |
0.08 |
| Third quarter |
0.08 |
0.08 |
| Fourth quarter |
0.08 |
0.08 |
