Think 2015 Brands

Valmont Industries is incorporated under the laws of State of Delaware and is headquartered in Omaha, Nebraska. The Company was founded in 1946 and went public in 1968. The Company’s common stock is registered and listed on the New York Stock Exchange under the ticker “VMI” since 2002. Earlier the Company was listed on the NASDAQ National Market.

The Company is a global manufacturer of fabricated metal components and products and one of the large manufacturers of concrete and metal tower and pole structures as well as mechanical irrigation systems. The Company’s tower and pole structures support power transmission lines and distribution equipment, outdoor traffic control and lighting fixtures, highway signboards, and wireless communications equipment. Valmont Industries’ mechanized irrigation equipments are used to deliver pesticides and fertilizers, and to water crops. The Company also offers metal coating solutions, which include painting, anodizing and galvanizing, and manufactures specialty tubing and pipe products.

Valmont Industries markets its products and solutions federal and state governments, telecommunications and utility companies, contractors, producers of fixtures for commercial lighting, and other general manufacturing industries. In 2006, nearly 24% of the Company’s sales were derived from markets or manufactured by the Company’s facilities located outside of North America.

The Company typically focuses following operational and expansion strategies:

• Gain further market share in existing product markets by differentiating the Company’s products through better customer service, innovating better technologies and maintaining high quality consistently.
• Enter new markets for existing offering both in terms of geographic expansion as well as finding new applications for existing products.
• Bring new products to the existing markets. For e.g., the Company developed structures for applications in tramway in Europe.
• Develop new offering for new markets

The Company has historically grown internally as well as through acquisitions. The Company’s acquisitions during the previous five years are as follows:

• In 2004, the Company acquired Newmark International, a producer of steel and concrete pole structures; acquired a fiberglass pole producer based in Colorado; and acquired a overhead sign structure producer in Delaware
• In 2006, the Company completed acquisition of a steel pole producer in Mexico
  The Company has organized itself into five business segments: Engineered Support Structures Segment, Utility Support Structures Segment, Coatings Segment, Irrigation Segment, and Tubing Segment.

Financial Performance. The Company’s worldwide net sales increased 15.6% to $1281 million in 2006 from $1108 million in 2005 mainly contributed by higher sales volume and increase in sales price (as increase in material cost was passed on to the customers). All business segments witnessed increase in sales volume, particularly the Utility Support Structures, Irrigation and Engineered Support Structures segments. Valmont Industries’ operating profit increased 32.8% to $110.1 million in 2006 from $82.9 million in 2005. The Company’s operating profit margin improved to 8.6% in 2006 from 7.5% in 2005. The Company’s net income increased 57.3% to $61.5 million in 2006 from $39.1 million in 2005. Valmont Industries’ net income margin also increased to 4.8% in 2006 from 3.5% in 2005.

Engineered Support Structures Segment contributed 39.8% to the total net sales of the Company in 2006 down from 42.5% in 2005. Utility Support Structures Segment contributed 21.9% to the total net sales of the Company in 2006 up two basis points from 19.8% in 2005. Coatings Segment contributed 7.1% to the total net sales of the Company in 2006 up from 6.5% in 2005. Irrigation Segment contributed 24.4% to the total net sales of the Company in 2006 up from 23.5% in 2005. Tubing Segment contributed 5.8% to the total net sales of the Company in 2006 down from 6.5% in 2005. Other Segment contributed 1.1% to the total net sales of the Company in 2006 down from 1.3% in 2005.

Engineered Support Structures: The segment manufactures engineered metal components and structures primarily for the traffic and lighting and wireless communication sector and some international utility sectors. Engineered Support Structures segment generated net sales of $509.3 million in 2006, up 8.2 % from $470.7 million in 2005.

Utility Support Structures: The segment manufactures engineered concrete and steel structures for the North American utility sector. Utility Support Structures segment generated net sales of $280.8 million in 2006, an increase of 28.3 % from $218.9 million generated in 2005.

Coatings: The segment engages in anodizing, powder coating, painting and galvanizing processes. Coatings segment generated net sales of $90.4 million in 2006, an increase of 25.4% from $72.1 million generated in 2005.

Irrigation: The segment manufactures agricultural irrigation equipment and associated components and services. Irrigation segment generated net sales of $312.8 million in 2006, an increase of 20.1% from $260.4 million generated in 2005.

Tubing: The segment manufactures tubular products for industrial sectors. Tubing segment generated net sales of $73.9 million in 2006, an increase of 2.8% from $71.9 million generated in 2005.

The Company’s other businesses generated $14.1 million of net sales in 2006, same as in 2005.

Official Website : http://www.valmont.com

Rockwell Collins is incorporated under the laws of State of Delaware and is headquartered in Cedar Rapids, Iowa. The Companyis origin is in Collins Radio Company founded in 1933. The Company’s common stock is registered and listed on the New York Stock Exchange under the ticker “COL”.

The Company engages in designing, production and servicing of aviation electronics and communications for commercial and military customers across the world. Although the Company primarily focuses on applications for aviation sector, its Government Systems segment offers systems and products for shipboard and ground applications. The Company provides a broad array of support and services to its clients through network of service centers across the world. These include equipment overhaul and repair, field service engineering, service parts, technical information services and training, and sales of used equipments.

The Company had employed nearly 18,600 people as of September 30, 2006. Rockwell Collins serves a number of clients across the world. These include US Coast Guard, the US Department of Defense, defense contractors, civil agencies, ministries of defense of foreign countries, manufacturers of air transport, regional and business aircraft, commercial and regional airlines, and business and fractional jet operators. The Company uses it internal sales force and marketing team to market its products and services. In addition, the Company also uses a dealer network and international sales executives to assist with international marketing and sales. In 2006, the US Government accounted for nearly 39% of the Company’s total net sales.

The Company believes in growing through partnerships and hence focuses special attention to joint ventures and alliances for new product and technology development. The Company 50% ownership in following joint ventures:

• Data Link Solutions LLC, joint venture with BAE Systems
• Vision Systems International, LLC, a joint venture with Elbit Systems, Ltd.
• Integrated Guidance Systems LLC, a joint venture with Honeywell International
• Quest Flight Training Limited, a joint venture with Quadrant Group plc.

The Company has grown internally as well as through acquisitions. Over the years Company has made several selective and strategic acquisitions. Its acquisition in the past three years includes:

• Anzus, Inc. acquired in September 2006 – building software applications
• IP Unwired Inc. acquired in September 2006 – building networking technology and digital communications
• Acquired certain assets of Evans & Sutherland in May 2006 - visual systems for commercial and military simulation
• TELDIX GmbH acquired in May 2005 - military aviation electronics
• NLX Holding Corporation acquired in December 2003 – building flight simulators

The Company also completed disposition of 50% interest in its non core Rockwell Scientific Company LLC to Teledyne Brown Engineering in September 2006.

The Company has organized itself into two business segments including Government Systems and Commercial Systems.

Financial Performance. The Company’s worldwide net sales increased 11.8% to $3863 million in 2006 from $3455 million in 2005 mainly contributed by TELDIX and E&S Simulation recently acquired by the Company. Rockwell Collin’s profit before income tax increased 25.9% to $689 million in 2006 from $547 million in 2005. The Company’s operating profit margin improved to 17.8% in 2006 from 15.8% in 2005. The Company’s net income increased 20.5% to $477 million in 2006 from $396 million in 2005. Rockwell Collin’s net income margin also increased to 12.3% in 2006 from 11.5% in 2005.

The Company’s order backlog stood at $3.7 billion as of September 30, 2006 compared to $3.2 billion as of September 30, 2005. Commercial Systems order backlog was at $0.9 billion while Government Systems had an order backlog of $2.8 billion as of September 30, 2006.

Government Systems. Government Systems segment provides defense communications products and systems, and defense electronics products and systems. These include display and navigation, and subsystems to the US Department of Defense, civil agencies, defense contractors, other government agencies, and ministries of defense of foreign countries. These products and systems support ground, shipboard and airborne applications.

The segment defense communication products and systems include:

• Communications products and systems
• Military data link products and systems
• Navigation products and systems
• Subsystems
• Cockpit display systems
• Integrated computer systems
• Training and simulation systems
• Maintenance, parts, repair, and after-sales support

Commercial Systems. Commercial Systems segment provides air transport aviation electronics products and systems, and regional and business aviation electronics products and systems. These products and systems include flight deck electronic products and systems such as navigation, communications, displays, surveillance; automatic flight control and management systems; and in flight entertainment, information management and cabin electronics systems.
Detailed products and systems include:

• Integrated avionics products and systems
• Cabin electronics products and systems
• Communications products and systems
• Navigation products and systems
• Surveillance systems and situational awareness
• Flight deck products and systems
• Integrated information systems
• Training and simulation systems
• Maintenance, parts, repair, and after-sales support

Official Website : http://www.rockwellcollins.com

Teledyne Technologies is incorporated under the laws of State of Delaware and is headquartered in Thousand Oaks, California. The Company originated as a divestment by ATI to become an independent company in November 1999. The Company’s common stock is registered and listed on the New York Stock Exchange under the ticker “TDY”.

Teledyne Technologies provides sophisticated electronic instruments, components, communications services and products. These include defense electronics, control and monitoring instrumentation for environmental, industrial and marine applications, communications and data acquisition equipment for business aircraft and airlines, and subsystems for satellite and wireless communications. The Company also provides information technology and systems engineering services for space, environmental and defense applications as well as manufactures missile and general aviation components and engines.

The Company’s major clients include aerospace contractors, government agencies, general aviation companies, and major communications and industrial companies.

The Company continues to focus on its core area of interest of instrumentation, defense electronics and government systems engineering. The Company has always intended to strengthen its core business through strategic acquisitions. Teledyne Technologies also focuses on operational excellence thereby improving profit margins. The Company has grown internally as well as through acquisitions. Over the years Company has made several selective and strategic acquisitions to expand its services and products in instrumentation as well as defense markets. Its acquisition in 2006 includes:

Marine Instrumentation. The Company completed acquisition of Benthos, Inc, a manufacturer of oceanographic package and products inspection systems in January 2006 for nearly approximately $40.6 million. The acquisition expanded and complements the Company’s underwater acoustic product category. In August 2006, the Company completed acquisition of Ocean Design, Inc., manufacturer of mateable electrical, fiber-optic and sub - sea interconnect systems for a total consideration of $34.4 million.

Defense. The Company completed acquisition of KW Microwave Corporation, a manufacturer of defense microwave subsystems and components in April 2006 for a total consideration of $10.3 million. In August 2006, the Company completed acquisition of CollaborX, Inc., a supplier of government engineering services in US for a total consideration of $14.9 million. In September 2006, the Company completed acquisition of Rockwell Scientific Company LLC, research and development services provider for a total consideration of $158.6 million.

The Company uses a combination of internal marketing team and sales forces, distributors and external sales representatives to market and sell its services and products.

The Company is highly focused on the research and development effort and spent a total of $307.0 million in 2006 on R&D compared with $291.5 million and $263.3 million in 2005 and 2004, respectively.

The Company employed nearly 7,700 employees.

The Company has organized itself in four operating business units:

• Electronics and Communications
• Systems Engineering Solutions
• Aerospace Engines and Components
• Energy Systems.

Financial Performance. The Company’s worldwide net sales increased 18.8% to $1433 million in 2006 from $1206 million in 2005 mainly contributed by recent acquisition made by the company as well through organic growth. Teledyne Technologies’ operating profit increased 24.1% to $125 million in 2006 from $100.7 million in 2005. The Company’s operating profit margin improved to 8.7% in 2006 from 8.3% in 2005. The Company’s net income increased 25.1% to $80.3 million in 2006 from $64.2 million in 2005. Teledyne Technologies’ net income margin also increased to 5.6% in 2006 from 5.3% in 2005.

The Company’s total confirmed order backlog was nearly $582.4 million as at December 31, 2006 compared to $521.9 million as at January 1, 2006 and $471.3 million as at January 2, 2005. The Company expects to complete 98% of these orders during fiscal 2007.

Electronics and Communications segment contributed 63% to the total net sales of the Company in 2006 up from 60% in 2005. Systems Engineering Solutions segment contributed 20% to the total net sales of the Company in 2006 2 percentage point declined from 22% in 2005. Aerospace Engines and Components 15% to the total net sales of the Company in 2006 one percentage point declined from 16% in 2005. Energy Systems 2% to the total net sales of the Company in 2006 same as in 2005.

The Company derives nearly 21% of its sales from its International operations as increase by three percentage points compared with 18% in 2005 and four percentage points compared with 19% in 2004. In 2006, the Company sold its products to clients in more than 100 foreign countries.

Nearly 60% of the Company’s total sales in 2006 were accounted for by commercial customers and the rest was accounted for by the US Government.

Official Website : http://www.teledyne.com

Roper Industries is incorporated under the laws of State of Delaware in 1981 and is headquartered in Sarasota, Florida. The Company’s common stock is registered and listed on the New York Stock Exchange under the ticker “ROP”.

Roper Industries is engaged in designing, manufacturing and distribution of energy controls and systems, industrial and scientific imaging software and products, radio frequency and industrial technology services and products. The Company’s products have a wide range of applications including water, energy, radio frequency applications, research / as well as general industry.

The Company focuses on continuous growth in top line and bottom line through continuous operational improvement and also by carrying out opportunistic acquisitions that offers product expansion, market expansion and value addition opportunities. In 2005 the Company acquired Inovonics Corporation (February 2005), CIVCO Holding, Inc. (June 2005) and MEDTEC, Inc. (November 2005). Earlier in 2004, the Company has acquired TransCore in December 2004 and the power generation business of R / D Tech in June 2004. Subsequently, in 2006 the Company acquired.

• Sinmed Holding International BV in April 2006, a producer of medical positioning equipment
• Intellitrans, LLC in April 2006, a supplier of asset tracking technology
• Lumenera Corporation in July 2006, a manufacturer and developer of high performance digital cameras for scientific, security and industrial sectors
• AC Analytical Controls Holding B.V. in August 2006, a supplier of chromatographic analyzers for the petrochemical sector
• Dynisco Parent, Inc. in November 2006, engaged in engineered sensors and software for measurement, control and testing applications.

The Company employed nearly 6,900 people as of December 31, 2006. Of these nearly 5,000 were based out of US.

The Company lays high emphasis on research and development activities. Roper Industries R&D spending grew to $58.6 million in 2006 versus $53.5 million in 2005 and $38.7 million in 2004.
The Company has been focusing on expanding its international presence. The Company’s sales of products produced and exported from US and produced and sold in international markets accounted for $610 million in 2006, compared to $545 million in 2005. As of December 31, 2006, nearly 17% of the Company long lived assets, excluding intangibles and goodwill were accounted for by its international operations. Nearly 27% of the Company’s total sales in 2006 were accounted for by its international (non US) operations.

The Company has organized itself into four operating segments: Industrial Technology, Energy Systems and Controls, Scientific and Industrial Imaging and RF Technology.

Financial Performance. The Company’s worldwide net sales increased 17.0% to $1701 million in 2006 from $1453 million in 2005 mainly contributed by recent acquisition made by the company as well through organic growth. Roper Industries’ operating profit increased 27.5% to $337.6 million in 2006 from $264.8 million in 2005. The Company’s operating profit margin improved to 19.8% in 2006 from 18.2% in 2005. The Company’s net income increased 26.2% to $193.3 million in 2006 from $153.1 million in 2005. Roper Industries’ net income margin also increased to 11.4% in 2006 from 10.5% in 2005.

Industrial Technology segment contributed 32.3% to the total net sales of the Company in 2006 down from 34.1% in 2005. Energy Systems and Controls segment contributed 20.2% to the total net sales of the Company in 2006 down on basis point from 21.4% in 2005. Scientific and Industrial Imaging 19.9% to the total net sales of the Company in 2006 up three percentage point from 17.2% in 2005. RF Technology contributed 27.5% to the total net sales of the Company in 2006 nearly same as in 2005.

Industrial Technology. Industrial Technology business segment manufactures industrial pumps, consumables and equipments for industrial leak testing equipment, materials analysis, flow metering and measurement equipment, automatic meter reading systems and products. The segment provides these solutions and products through five operating units based in US and three operating units based in Europe.

In 2006, Industrial Technology business segment generated net sales of $550.0 million. This represented 32.4% of the Company’s total net sales.

Energy Systems and Controls. Energy Systems and Controls business segment manufactures control systems, equipments to test fluid properties, industrial controls and valves, machinery vibration and non-destructive measurement and inspection solutions and products. These are provided through six operating units based in US and two operating units based in Europe.

In 2006, Energy Systems and Controls segment generated net sales of $343.7 million. This represented 20.2% of the Company’s total net sales.

Scientific and Industrial Imaging. Scientific and Industrial Imaging business segment provides high performance digital imaging software and products, patient positioning software and products to be used in medical applications, and handheld software and computers. These solutions and products are provided through nine operating units based in US, one operating unit based in Europe and three operating units based in Canada.

In 2006, Scientific and Industrial Imaging business segment generated net sales of $338.9 million. This represented 19.9% of the Company’s total net sales.

RF Technology. RF Technology business segment offers radio frequency identification, satellite-based communication software and technology solutions. These solutions and products are provided through two operating units based in US.

In 2006, RF Technology business segment generated sales of $468.1 million. This represented 27.5% of the Company’s total net sales.

Official Website : http://www.roperind.com

Raytheon Company is incorporated under the laws of State of Delaware and is headquartered in Waltham, Massachusetts. The Company was established in 1922. The Company got merged with HE Holdings, Inc. in 1997. The Company’s common stock is registered and listed on the New York Stock Exchange under the ticker “RTN”.

Raytheon Company is one the largest player in the government and defense electronics, information technology, space and technical services. The Company engages in designing, developing, manufacturing and integration as well as providing a broad portfolio of technologically advanced services, solutions and products for commercial and governmental customers in US and internationally. The Company acts as a first contractor or key subcontractor on a variety of defense programs for the US government. The US government accounted for nearly 84% of the Company’s total net sales in 2006. The Company also serves US military, the North Atlantic Treaty Organization and many governments on various continents.

In December 2006, the Company divested, through a definitive agreement, its fully owned subsidiary, Raytheon Aircraft Company. Raytheon Aircraft Company constituted substantially all of the Company’s Aircraft business segment.

The Company’s key services, solutions and products include:

• Sensing, this includes radio-frequency systems and radars and electro-optical and infrared sensors and systems.
• Command, Control, Communication and Intelligence (C3I), this includes command & control and intelligence systems, and tactical communication.
• Effects, this includes missiles, information operations and precision weapons.
• Mission Support, this includes full life-cycle training and services.

Financial Performance. The Company’s worldwide net sales increased 6.8% to $20.3 billion in 2006 from $19 Billion in 2005 mainly owing to higher sales at Missile Systems, Network Centric Systems and Integrated Defense Systems. Raytheon Company’s operating income increased 21.7% to $1,840 million in 2006 from $1,512 million in 2005. The Company’s operating profit margin improved to 9.0% in 2006 from 7.9% in 2005. The Company’s net income increased 47.3% to $1,283 million in 2006 from $871 million in 2005. Raytheon Company’s net income margin also increased to 6.3% in 2006 from 4.6% in 2005.

The Company has organized itself into six primary businesses: Integrated Defense Systems, Intelligence and Information Systems, Missile Systems, Network Centric Systems, Space and Airborne Systems and Technical Services.

Integrated Defense Systems. The segment has its executive office in Tewksbury, Massachusetts. Integrated Defense Systems provides integrated joint battlespace and homeland security solutions. The segment utilizes its strengths in control, command, and effects to deliver mission critical solutions for air defense, ballistic missile defense, naval and maritime, and homeland security systems.

The segment significantly expanded its international business in 2006, especially through its Patriot Missile & Air Defense System. IDS uses its advanced technology to provide spectroscopic portal nuclear detectors. The segment’s major clients include the US Army, Navy, Air Force and Marine Corps, the US Missile Defense Agency and the Department of Homeland Security. Its major international clients include Saudi Arabia, Japan, Australia, Taiwan, the United Kingdom and Germany.

The segment comprises following business units: Future Naval Capability, a leading US Navy’s Open Architecture initiative; Integrated Air Defense, which offers integrated whole-life air defense systems; Missile Defense, which offers intelligence support and joint system solutions for ballistic missile defense; International Operations, which offers whole life solutions and systems to major international clients; Maritime Mission Systems, which offers a wide range of effectors and sensors for mine warfare mission and anti-submarine; Joint Battlespace Integration, which offers integrated capabilities in multi-domain awareness and surveillance, information fusion and knowledge management.

Intelligence and Information Systems. The segment is headquartered in Garland, Texas and provides tactical and national intelligence systems and information services to US as well as international government customers. The segment offers integrated ground systems for image and signal intelligence and climate and weather systems, control and command solutions for air / space platforms, operations, maintenance and engineering solutions, and homeland security and information technology solutions.

The segment is comprised of:

• Strategic Intelligence Systems
• National Systems
• Space Systems
• Operational Technologies and Solutions
• Raytheon Information Solutions
• Tactical Intelligence Systems

Missile Systems. The segment is headquartered in Tucson, Arizona and engages in developing and producing missile systems for the US and allied nations’ armed forces. The segment leverages its expertise in navigation and guidance systems, advanced airframes, netted and targeting systems and high resolution sensors, and have developed technologically advanced missiles, projectiles, smart munitions, space vehicles and kinetic kill vehicles.
The segment’s key clients include the US Army, Navy, Air Force and Marine Corps, and the armed forces of over forty allied nations.

The segment is comprised of:

• Naval Weapon Systems
• Strike
• Air-to-Air
• Land Combat
• Exoatmospheric Kill Vehicle

Network Centric Systems. The segment is headquartered in Texas and engages in developing and producing net-centric mission solutions, and control and command communications. The segment serves major clients such as the US Air Force, Navy, Army and Marine Corps.

Official Website : http://www.raytheon.com

Precision Castparts Corp. (PCC) is established under the laws of State of Oregon and is headquartered in Portland, Oregon. The Company’s common stock is registered and listed on the New York Stock Exchange under the ticker “PCP”.

Precision Castparts Corp. is a leading producer of complex metal products and components. The Company offers high quality forgings, investment castings and fastener Systems / fasteners for application in industrial gas turbine and aerospace. Precision Castparts Corp. also serves general industrial, armament, automotive and medical applications with its investment casting and forging products. The Company offers nickel alloys and cobalt alloys for use in aerospace, oil and gas, chemical processing and pollution control industries. Its fasteners are used in general industrial and automotive markets. The Company’s specialty alloys, metal processing solution and waxes find application in investment casting industry. Precision Castparts Corp. refiner plates and screen cylinders are used by the paper and pulp industry. The Company also provides ThixoFormed and metal-injection-molded parts to automotive markets.

Precision Castparts has historically done a number of acquisitions adding to the internal growth of the Company. In February 2007, Precision Castparts Corp. completed acquisition Cherry Aerospace for $300.4 million in cash from Acument Global Technologies, Inc. Cherry Aerospace manufactures aerospace blind bolts and rivets and employs nearly 500 people at its site in Santa Ana, California. Further in the same month, the Company acquired GSC Foundries, Inc. for $77.1 million in cash. GSC manufactures steel and aluminum structural investment castings for applications in aerospace, medical and energy markets, and employs employs nearly 375 people in Ogden, Utah. Earlier in May 2006, Precision Castparts Corp acquired Special Metals Corporation, which manufactures high-performance super alloys and nickel-based alloys. These alloys are primarily used in production of forged components for critical application such as in gas turbines. All these acquisitions have a strategic fit into the current plan of Precision Castparts Corp. and is expected to expanding the Company’s market position and product portfolio.

The Company also focuses on internal growth and has expanded its manufacturing capacity including the titanium facility of PCC Structurals, isothermal forging press at Wyman-Gordon, DS furnaces at PCC Airfoils and a rotary forging machine at SMC. These projects are expected to add nearly $145 million in net sales in 2008.

The company sells its products and components in four major market sectors:

power generation, aerospace, automotive and general industrial. Aerospace accounted for 53% of total net sales, followed by Power Generation with 21% of net sales, General Industrial with 20% of net sales and Automotive with 6% of net sales.

General Electric as a customer accounted for majority of the Company’s sales with 11.4% of total sales. However, this proportion was much lower compared to the previous year when GE accounted for16.8% of the Company’s total sales.

As at April 1, 2007, the Company employed nearly 19,800 people, including nearly 8,500 people in the Investment Cast Products business, 4,700 people in the Forged Products business and 6,600 people in the Fasteners segment.

Financial Performance. The Company’s worldwide net sales increased 52.4% to $5,361 million in 2006 from $3,518 million in 2005. Precision Castparts Corp.’s earnings before income tax increased 79.2% to $921 million in 2006 from $514 million in 2005. The Company’s profit before tax margin improved to 17.2% in 2006 from 14.6% in 2005. The Company’s net income increased 80.6% to $633 million in 2006 from $350.5 million in 2005. Precision Castparts Corp.’s net income margin also increased to 11.8% in 2006 from 10.0% in 2005.

The Company’s positive results were primarily driven by good performance of Special Metals Corporation, a recent acquisition by Precision Castparts corp.; by strong market conditions in the Company’s power generation and aerospace markets; and by Precision Castparts’ relentless focus on operational improvements and cost reduction across all of its operations.

Outlook for 2007. The Company expects an increase of 10%-15% in net sales in 2008 over 2007. The Company order backlog as of April 1, 2007 was $4,764.8 million. The Company expects to convert approximately 80% of the backlog into sales in fiscal 2008.

The Company has organized itself into three different operating segments: Investment Cast Products, Forged Products and Fasteners products.

Investment Cast Products. The Company’s Investment Cast Products segment includes its subsidiaries PCC Airfoils, PCC Structurals and Specialty Materials and Alloys Group. The segment produces investment castings for industrial gas turbine engines, aircraft engines, airframes and medical prostheses.

The segment accounted for nearly 34% of the Company’s total net sales in 2007 fiscal year.

Forged Products. The Company is one of the leading producers of forged components for applications in the power generation and aerospace markets. The aerospace customers of this segment are largely also served by Investment Cast Products segment. The segment accounted for nearly 43% of the Company’s total net sales in 2007 fiscal year.

Fastener Products. The Company has gained significant presence in highly engineered fastener systems, fasteners and precision components through the acquisition of SPS Technologies. The segment accounted for nearly 23% of the Company’s net sales in 2007 fiscal year.

Official Website : http://www.precast.com

The Genlyte Group manufactures designs, sells and markets, controls, lighting fixtures and various other related products for various applications in residential, industrial and commercial markets in North America. The products of Company, include incandescent, LED (light emitting diodes), HID (fluorescent and high-intensity discharge), lighting controls, poles, lighting fixtures and accessories for residential, commercial, industrial, medical, institutional, entertainment, sports and hospitality markets, and also provide task lighting for almost all markets. The Company has various divisions through it operates. These divisions include: Chloride Systems, Capri/Omega, Controls, Gardco, Day-Brite, Hadco, Shakespeare Composite Structures, JJI, Strand, Lightolier, Supply, Wide-Lite and Thomas Residential in US and Ledalite, Canlyte, Thomas Lighting Canada and Lumec in Canada. The company has acquired Strand and JJI division in 2006. These divisions also have operations in Hong Kong and Germany.

The Genlyte Group markets its various products, in United States, under several brand names that includes Allscape, Alkco, Bronzelite, Ardee, Canlyte, Carsonite, Capri, Chloride Systems, D’ac, Crescent, Day-Brite, ExceLine, Emco,Entertainment Technology, Forecast, Guth, Hadco, Gardco, Hanover Lantern, Hoffmeister, High-Lites Horizon,Lam, Lightolier, Ledalite, Lite-energy, Lightolier Controls, Lumec, Metrolux, Morlite, McPhilben, Nessen, Omega, Shakespeare Composite Structures, Quality, Specialty, Strand, Stonco, Thomas Lighting, Translite Sonoma, Thomas Lighting Canada, USS Manufacturing, Vista, Vari-Lite and Wide-Lite.

The Acquisitions of company are as follows.

JJI Lighting Group in 2006:
In May 2006, the Genlyte Group acquired JJI (JJI Lighting Group), which has headquartered in Greenwich, CT and has operating units in Franklin Park, IL; Shelby, NC; SantaAna, CA; Mamaroneck, NY; Erie, PA; Waterbury, CT; and Ludenscheid, Germany. The JJI was United States’ leading lighting fixture company, before acquisition, and also has various lighting brands that complement and support Company’s current business.

Strand Lighting in 2006:
In July 2006, the Genlyte Group acquired the Hong Kong and U.S based operations of Strand (Strand Lighting) and few share of Strand Lighting Ltd. (UK) as a restructuring of the company, under Strand Lighting Ltd. The Strand was incorporated in 1916 as a producer of lighting systems and entertainment lighting. This acquisition is very useful for Company’s Entertainment Technology, Vari-Lite, and Lightolier Controls product and also enhances Company’s presence in entertainment lighting and the atrical markets. The acquisition cost was $587.

Carsonite International Corporation in 2006: In September 2006, the Genlyte Group acquired all shares of Carsonite International Corporation (“Carsonite”).It is a subsidiary of Omega (Omega Polymer Technologies, Inc.). This acquisition is very useful for Company’s current Shakespeare Composite Structures product that is in the roadway, utility, park and various recreation markets. The Carsonite also has factory in Varnville, SC and another factory, which is leased, in Early Branch, SC.

32% Minority Interest in GTG in 2004: In 2004 Genlyte, through its subsidiaries, has acquired 32% minority interest in GTG, which was owned by Thomas for $386,500 plus 32%of GTG’s earnings. This acquisition was accounted by using the purchase method of accounting.
The products of the company primarily use fluorescent, incandescent, LED (light emitting diodes) and HID (and high-intensity discharge) light sources. The company’s products are marketed to distributors. They resell products in new residential, industrial and commercial construction. The company never sells its products directly to the end-user, so it never knows the exact revenue came from product sale. Apart from this, engineers, architects, building owners and contractors promote products of the company. Products are marketed throughout Canada, United States and Mexico.

In 1985, the Genlyte Group Incorporated (“Genlyte”) was formed in State of Delaware as subsidiary (wholly-owned) of Bairnco Corporation. Genlyte was separated from Bairnco Corporation, in 1988 and became an independent company.

Genlyte started to combine its business to Thomas (Thomas Industries Inc) company’s lighting business. In August 1998, Genlyte completed this combination and form a limited liability company which is GTG (Genlyte Thomas Group LLC). Genlyte has 68% of shares of GTG and has liabilities to GTG. Thomas group has few liabilities of Thomas Lighting and has 32% of shares in GTG. In 2004 Genlyte acquired 32% Thomas’ shares in GTG.

The company’s shares were traded on NASDAQ National Market System under the ticker “GLYT.” The Net sales of the company were $1,484.8 million in 2006, increase to 18.6% from 2005. The Net income was $154.5 million for 2006, increase to 82.1% from 2005.
The Company produces large quantity of products through the use of various raw materials and its components such as aluminum, steel, ballasts, sockets, plastic, lenses, wire, corrugated cartons and glass from various sources. The Genlyte Group has more than 500 International and United States design patents, registered trademarks, and mechanical patents. Genlyte Group maintains it by regular trademarks renewal and maintenance fees payment for its patents.

The Company’s Canadian and US lighting market estimates about $8.9 billion revenues annually. The Genlyte Group’s products are very dominant in lighting industry and also compete in various other markets with several competitors in each market. The major competitions in outdoor and indoor markets are on service, price, design, delivery, product quality, innovation and performance. Product that are commodity-type, compete on delivery, quality and price. Product that are differentiated type, compete on innovation, design, and product performance.

Official Website : http://www.genlyte.com

Oshkosh Truck Corporation is a leading manufacturer, designer and marketer of various commercial, military and fire and emergency vehicles under the “Pierce” and “Oshkosh” trademarks; various vehicle parts and bodies under “Medtec”, “McNeilus”, “BAI”, “Jerr-Dan”, “Geesink”, “Frontline”, “Norba”, “AK”, “IMT”, and “SMIT” trademark; stationary and mobile compactors and various transfer stations under “Kiggen” trademark; portable and batch plants for stationary concrete under ”CON-E-CO” and ”McNeilus” trademarks; and various mobile medical trailers under “ AK” trademark.

Oshkosh Truck Corporation was founded in 1917. In 1981 company got an award of first HEMTT or Heavy Expanded Mobility Tactical Truck for US DoD or Department of Defense and became a leading supplier of heavy tactical trucks to DoD. The company has various manufacturing and marketing operations in about 10 U.S. states, Canada, Belgium, France, Mexico, Italy, The Netherlands, Sweden, Romania, and UK. Oshkosh Truck Corporation has more than 13,400 employees worldwide.

In October 2006 Company acquired JLG Industries, Inc. (JLG), a leading provider of telehandler vehicles and aerial work platforms. JLG works in construction market and has customers including rental equipment companies, manufacturing companies and various construction contractors.

The company has listed on New York Stock Exchange under the ticker “OSK”. In 2006 the Net income of the company was $3.43 billion as compared to $2.96 billion in 2005.

The company has acquired following companies as its part of strategy.

• Pierce Manufacturing Inc. – A marketer and manufacturer of fire apparatus. The company has acquired Pierce Manufacturing Inc in 1996.
• Nova Quintech – acquired in 1997. Makes aerial devices and machinery for
• McNeilus Companies Inc. – acquired in 1998. Provides commercials such as vehicle bodies and also refuse it for wastes recycle industry.
• Kewaunee Fabrications LLC – acquired in 1999. It is a manufacturer of aerial parts for fire vehicle.
• Viking Truck & Equipment – acquired in 2000. It is a front discharge mixer dealer.
• Medtec Ambulance Corporation - acquired in 2000, a manufacturer of rescue vehicle and ambulances.
• Geesink Norba Group - acquired in 2001, European manufacturer of truck bodies and transfer stations.2004 – Jerr-Dan Corporation.
• BAI Companies – acquired 75% of ownership. Marketer of fire equipment and apparatus.
• CON-E-CO - acquired in 2004. A provide concrete batch plants.
• London Machinery Inc. - acquired in 2005. A Canada based rear discharge concrete mixers.
• AK Specialty Vehicles, now known as Oshkosh Specialty Vehicles - acquired in 2006.
• IMT - acquired in 2006. Manufacturer of truck mounted cranes.
• JLG Industries - acquired in 2006.

The company has following segments of vehicle market.

Fire and Emergency Segment

Oshkosh Truck Corporation is a manufacturer and marketer of fire equipments, assembled it on custom chassis, manufactured and designed by Pierce Manufacturing Inc. (Pierce) to fulfill the requirements of firefighters. The Pierce also designs and manufactures fire equipment assembled on chassis that is commercially available and is produced for various applications for end-customer. Pierce helps domestic customers and also supplies fire equipments to airports, industrial companies, and universities and in various other international markets. The Pierce provides several commercial and custom fire apparatus and several emergency vehicles such as pumpers, ladder trucks, tankers, aerial trucks, rescue vehicles, , mobile command, wildland response vehicles and control centers, hazard control vehicles, bomb squad vehicles and other emergency vehicles.

Brescia Antincendi International (BAI) offers several firefighting vehicles, firefighting (ARFF) units, aircraft rescue, industrial firefighting trucks and firefighting trucks for forest. The Company markets and manufactures fire equipment, through BAI, all over Europe, North Africa and the Middle East.

JerrDan Corporation (JerrDan) provides recovery and towing equipment in US. JerrDan offers various new rollback carriers and wreckers or traditional tow trucks. Apart from these core services JerrDan also offers one-stop service for wreckers and carriers. It generates revenue from sale of service parts and chassis and the installation of equipment. The Company provides ambulances through Medtec Ambulance Corporation. . Medtec markets and manufactures various ambulances for patient transporters, public transporters and fire departments.

The company also provides snow removal vehicle for airports in US.

Defense Segment

For more than 80 years Oshkosh provides products to US Department of Defense. Oshkosh provides various military vehicles such as HEMTT ( heavy expanded mobility tactical truck), HET ( heavy equipment transporter), the PLS (palletized load system ), the CBT (common bridge transporter), and the LVS (logistic vehicle system). It also provides payload trucks for US marine defense.

Commercial Segment

In North America and Europe, Oshkosh provides refuse truck and vehicle bodies for waste services industry, through Geesink Group B.V., McNeilus Companies, Inc., Norba A.B. etc. With the help of various subsidiaries Oshkosh provides field service vehicle such as portable and stationary concrete plants, concrete mixers for concrete industries all across America. In 2006 company launched front-discharge Revolution drums.

Official Website : http://www.oshkoshtruckcorporation.com

Moog was established under the laws of New York State in 1951 and is headquartered in East Aurora, New York. The Company’s Class A and Class B common stock is registered and listed on the New York Stock Exchange under the ticker “MOG”.

The Company is a leading manufacturer and designer of high performance, fluid and motion controls and systems for a wide array of applications including aerospace, defense, medical device and industrial markets. The Company’s major systems and products include commercial and military airplane flight controls, strategic and tactical missiles controls, controls for satellite positioning, controls for space launch vehicles, gun barrels positioning controls and controls for automatically loading military combat vehicles. The Company’s products are also used in various industrial applications such as injection molding machines, power generating turbines, metal forming, simulators for pilot training and some medical applications.

The Company’s primary manufacturing sites are based in US, including sites in Utah, New York, North Carolina, California, Virginia and Pennsylvania as well as in Germany, England, Italy, the Philippines, Japan, India and Ireland.

The Company focuses on increasing its revenue base and improving cash flows and profitability by leveraging its market leading position and by strengthening leaderships in the niche market.

The Company emphasizes on a balanced and diversified mix of its business in terms of geographic presence, product presence and customer base. Moog is also focusing on improving operating efficiencies through a variety of manufacturing and process initiatives and leveraging low cost manufacturing locations.

Moog has historically grown through acquisitions. In August 2006, the Company completed acquisition of McKinley Medical through stock issuance. McKinley Medical engages in designing, assembling and distribution of disposable pumps used primarily to administer therapeutic drugs. In April 2006, the Company completed acquisition of Curlin Medical and its affiliates. Curlin Medical manufactures infusion pumps used in controlled delivery of therapeutic drugs. In November 2005, Moog completed acquisition of Flo-Tork. Flo-Tork is designs and manufactures pneumatic and hydraulic rotary actuators for industrial and military applications.

In February 2006, Moog issued 2,875,000 Class A shares for net proceeds of $84 million which was utilized to pay outstanding debt under credit facilities. The Company employed approximately 7,300 people as of September 30, 2006.

The Company’s customers include Original Equipment Manufacturers for defense and aerospace market, which accounted for 43% of Moog’s net sales in 2006; OEM customers of medical businesses and industrial market, which accounted for 31% of the Company’s net sales in 2006; and aftermarket customers which include commercial airlines and the US Government. The Boeing Company accounted for nearly 9% of Moog’s total net sales in 2006. Net sales to Lockheed Martin also accounted for nearly 9% of total net sales.

The Company’s international operations are based primarily in the Asian-Pacific region and Europe and it operates through fully owned foreign subsidiaries in these regions.

Financial Performance. The Company’s worldwide net sales increased 24.3% to $1,306 million in 2006 from $1,051 million in 2005. Moog’s earnings before income tax increased 26.5% to $120.1 million in 2006 from $94.9 million in 2005. The Company’s operating margin improved to 9.2% in 2006 from 9.0% in 2005. The Company’s net income increased 25.7% to $81.3 million in 2006 from $64.7 million in 2005. Moog’s net income margin also increased marginally to 6.2% in 2006 from 6.1% in 2005.

Outlook for 2007. The Company expects an increase of 9%-11% in net sales in 2007 over 2006. The Company expects diluted earnings per share to increase between 12% and 16% to between $2.21 and $2.29, respectively.

The Company has organized itself into five different operating segments: Space and Defense Controls, Aircraft Controls, Industrial Controls, Medical Devices and Components.

Aircraft Controls. Aircraft Controls is the Company’s largest business segment and generates its revenues from three primary sectors: commercial aircraft, military aircraft and aftermarket services. The segment offers a comprehensive range of system integration capabilities and technologies. The segment engages in designing, manufacturing and integration of flight controls for commercial and military aircraft. The segment’s key customers include BAE, Boeing, Airbus, Bombardier, Lockheed Martin and Honeywell.

Space and Defense Controls. The segment generates revenues from space vehicles and satellites, missile defense, strategic and tactical missiles, launch vehicles and defense controls. The segment engages designing, manufacturing and integration of electric and chemical propulsion systems and flight motion controls for military and commercial satellite markets. The segment’s major include Lockheed Martin, Alliant Techsystems, Astrium, Boeing and Raytheon.

Industrial Controls. Industrial Controls serves customers in six major markets across the world including plastics making machinery, metal forming, power generating turbines, heavy industry, simulation and test. The segment’s key customers include Huskey, FlightSafety, Tuftco, Schlumberger and Cooper.

Components. The segment provides fiber optic rotary joints, motors and slip rings. It also offers electromechanical actuators for commercial, military and aerospace applications, fiber optic modems, avionic instrumentation, resolvers and optical switches. The segment’s key customers include Lockheed Martin, Respironics, Raytheon, Litton Precision Products, Honeywell and the US Government.

Medical Devices. Moog entered into medical devices market through acquisitions of McKinley Medical and Curlin Medical in 2006.

Official Website : http://www.moog.com