10-QPeriod: Q3 FY2005

CURTISS WRIGHT CORP Quarterly Report for Q3 Ended Sep 30, 2005

Filed November 9, 2005For Securities:CW

Summary

This filing for Curtiss-Wright Corporation (CW) for the quarter ended September 30, 2005, provides limited new financial details, but offers assurances on key operational and legal fronts. Management, including the CEO and CFO, has affirmed the effectiveness of the company's disclosure controls and procedures, indicating robust internal reporting mechanisms. Furthermore, there have been no material changes in market risk exposures since the last annual report, suggesting a stable risk profile for investors. The company also addressed legal proceedings, stating that pending claims, including those related to asbestos, are not expected to have a material adverse effect on its financial position or results of operations, supported by insurance coverage.

Key Highlights

  • 1Management confirms disclosure controls and procedures are effective, providing investor confidence in financial reporting accuracy.
  • 2No material changes in market risk have occurred, suggesting a stable risk environment for the period.
  • 3Pending legal proceedings, including asbestos-related claims, are not expected to materially impact the company's financial performance.
  • 4The company believes its minimal use of asbestos and product characteristics make significant liability from related litigation unlikely.
  • 5Adequate insurance coverage is in place to address potential, albeit unlikely, asbestos liabilities.
  • 6The filing references previously filed certifications by the CEO and CFO regarding the accuracy of financial reports.

Frequently Asked Questions

This specific excerpt from the 10-Q focuses on market risk, controls and procedures, and legal proceedings. It does not contain detailed financial results for the quarter. Investors would need to refer to other sections of the full 10-Q filing or the referenced 8-K filing from July 28, 2005, for the announcement of the financial results for the quarter ended June 30, 2005.

The filing states there have been no material changes in Curtiss-Wright's market risk during the nine months ended September 30, 2005. Further details on market risk and management policies are available in the company's 2004 Annual Report on Form 10-K.

Curtiss-Wright states that while subject to various pending claims and lawsuits in the ordinary course of business, they do not believe the disposition of any of these matters, individually or in the aggregate, will have a material adverse effect on its financial position or results of operations. This includes asbestos-related lawsuits, where the company believes significant liability is unlikely due to minimal asbestos use and product characteristics, and adequate insurance is maintained.

Management has evaluated the company's disclosure controls and procedures and concluded they are effective. There have been no changes in the Corporation's internal control over financial reporting during the quarter ended September 30, 2005, that have materially affected, or are reasonably likely to materially affect, these controls.