Woodward Inc., parent company of Woodward HRT in Valencia (formerly Hydraulic Research-Textron), posted 10 percent higher year-over-year fourth-quarter profits (66 cents) on sales revenue of $528.7 million, an 8-percent increase.
Both figures represented new quarterly records for the Colorado-based company.
“Woodward finished the year with strong sales and earnings, while continuing our strategic investments in future growth,” Woodward CEO Thomas A. Gendron said in a statement.
Aerospace sales were up 9 percent with “strength across all end markets,” while energy sales were up 7 percent, “mainly related to growth in compressed natural gas engines and strength in the wind turbine market primarily associated with the impending expiration of government incentives,” the company said.
Among other things, the Valencia branch has been building the sophisticated tail fins for Raytheon’s AIM-9x missile, being manufactured under a U.S. Navy-administered contract for the governments of South Korea and Saudi Arabia.