10-QPeriod: Q1 FY2006

CURTISS WRIGHT CORP Quarterly Report for Q1 Ended Mar 31, 2006

Filed May 10, 2006For Securities:CW

Summary

Curtiss-Wright Corporation's (CW) 10-Q filing for the quarter ended March 31, 2006, indicates a period of stability and robust internal controls. The company reported no material changes in its market risk exposure, with existing disclosures from its 2005 10-K providing the most comprehensive view. Management, including the CEO and CFO, has affirmed the effectiveness of the company's disclosure controls and procedures, as well as its internal control over financial reporting, assuring investors of reliable financial information. The company also addressed legal proceedings, stating that while various claims and contingent liabilities exist, none are expected to have a material adverse effect on its financial position or results. Specifically regarding asbestos litigation, Curtiss-Wright believes its minimal use of asbestos and the condition of materials make material liability unlikely, further supported by adequate insurance coverage. The filing also includes certifications from its CEO and CFO, reinforcing the integrity of its financial reporting.

Key Highlights

  • 1No material changes in market risk exposure during the quarter.
  • 2Disclosure controls and procedures deemed effective by senior management.
  • 3Internal control over financial reporting remains materially unchanged and effective.
  • 4Management anticipates no material adverse effect from ordinary course legal proceedings.
  • 5Asbestos litigation is not expected to result in material liability due to minimal use and product condition.
  • 6Adequate insurance coverage is in place for potential asbestos liabilities.
  • 7CEO and CFO certifications filed, affirming financial reporting integrity.

Frequently Asked Questions

No, the filing explicitly states there have been no material changes in the Corporation's market risk during the three months ended March 31, 2006. Further details can be found in the company's 2005 Annual Report on Form 10-K.

Curtiss-Wright is involved in various pending claims and lawsuits in the ordinary course of business. The company does not believe that the outcome of any of these matters, individually or in aggregate, will materially impact its financial position or results of operations. This includes asbestos litigation, where the company believes material liability is unlikely due to minimal asbestos use and product condition, and is covered by adequate insurance.

Yes, the filing indicates that management, including the CEO and CFO, conducted an evaluation and concluded that the Corporation's disclosure controls and procedures are effective. Similarly, there have been no changes in internal control over financial reporting during the quarter that would materially affect it.

The company filed certifications from its Chairman and CEO, Martin R. Benante, and its Chief Financial Officer, Glenn E. Tynan, pursuant to Rule 13a-14(a). Additionally, both officers provided certifications pursuant to 18 U.S.C. Section 1350.