Moog Inc. is feeling more confident about its current fiscal year.
The Elma-based maker of motion control equipment raised its guidance for its full-year earnings by 25 cents per share, to $3.75. Moog cited a stronger operational performance by the company and a reduced tax rate. The company also raised its forecast for its full-year sales by $10 million, to $2.5 billion.
In its fiscal third quarter, which ended July 1, Moog reported net income of $40.1 million, up 10.5 percent from $36.3 million a year ago.
"Nine months in the bank, we're feeling pretty good about fiscal '17," said John Scannell, Moog's chairman and CEO, in a Friday conference call with analysts.
Sales in Moog's aircraft controls, space and defense controls and components segments each increased from a year ago, while its industrial systems sales declined. Aircraft controls, which led all of Moog's segments in sales, increased 4 percent to $283 million.