Moog CEO Robert Brady Talks to The Wall Street Transcript
17 July 2000
Moog CEO Robert Brady Talks to The Wall Street Transcript
NEW YORK - The Wall Street Transcript has published an in-depth interview with Robert Brady, CEO of Moog, in which he talks at length about the company's future.Brady gives an overview of his company, "Our company is a specialist in high performance motion control systems. The company was founded on the 1951 invention of a device called a servovalve, which became key in precision hydraulic systems. We've moved from that as the cornerstone into complete control systems. "
Brady explains, "These days our business is about 45% airplanes, more commercial than military. About 35% of our business is in industrial machinery, making controls for use in lots of big ticket, high-performance machinery like injection molding machines that mold dashboards for automobiles, blow-molding machines that blow plastic gas tanks for automobiles, and injection molding machines that make compact disks and DVDs. The remaining 17% of our business is in position controls for satellites and for the big rockets that launch them."
Looking forward, Brady states, "The Street expects us to make $2.80 a share this year; halfway through the year we're halfway through that number, so it seems like a reasonable projection. Our Class A stock is selling for less than $26 a share, so in terms of p/e ratios, we're selling at a substantial discount to the market. For that reason, Moog stock is a hell of a bargain. As I suggested a few minutes ago, I think there will come a time in the not-too-distant future when the market will think differently, both about the aerospace sector and particularly about some of the companies that are included in that listing, and particularly ours."
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