ESCO Technologies Inc. (ESE) 2008年年度报告「NYSE」.pdf

1、2 0 0 8 A n n u A l R e p o R te S C o t e C h n o l o g i e S i n C.Table of ContentsTo Our Shareholders 1Company Overview 3Utility Solutions 4RF Shielding&Test 6Filtration/Fluid Flow 7Commitment To Communities 8Financial Section 9Managements Discussion and Analysis 10Financial Statements 21Notes t

2、o Consolidated Financial Statements 26Accountability Reports 43Five-Year Financial Summary 46Market Performance 47Shareholders Summary 48Management and Directors 49 E S C O A t A G l a n c e U t i l i t y S o l u t i o n s R F S h i e l d i n g&T e s t F i l t r a t i o n/F l u i d F l o wWe are ple

3、ased to report that while 2008 was a year of extraordinary global economic challenges,ESCO was able to deliver outstanding financial results for our shareholders.Meaningful growth in sales across all operating segments and geographic areas resulted in strong top and bottom line performance.We believ

4、e ESCOs growth and profitability over the last several years validates our belief that we are pursuing the right core strategies to deliver on our steadfast commitment of increasing long-term shareholder value.Financially,our success in 2008 was evident by the following:sales increased 40 percent;EB

5、IT increased 116 percent;EBIT margin increased 460 basis points;EPS-Continuing Operations increased 57 percent;net cash provided by operating activities increased 71 percent;and entered orders increased 35 percent.Fiscal 2008 was also a transformational year for ESCO,as we significantly repositioned

6、 the Company by expanding our focus on our fastest growing,highest margin business segment,the Utility Solutions Group(USG).Through the acquisitions of Doble and LDIC,complemented by the divestiture of Filtertek,we became a more growth oriented,higher operating margin business with a substantially i