Vic Richey, Chairman and CEO of ESCO Technologies Inc. (ESE) presented a plan to increase shareholder value at the 34th Annual Canaccord Genuity Global Growth conference on Wednesday. He projected sales to increase at more than 10% and EPS at more than 15%, and he said ESE would continue investing in new products and solutions, while also engaging in selective acquisitions to supplement the core business.
Richey also reported the company has seen consistent growth in profitability along all product lines for the past four years, ending 2013 at $86.3 million EBIT. He said this does not include the completion of the sale of Aclara, which was completed in March 2014.
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The CEO said the company is second only to Nepal internationally in its filtration/fluid flow products for the aerospace industry. The RF shielding and test group achieved sales of nearly $500 million in 2013, far above and away from its nearest competition, he said. The competitive edge here, according to Richey, is the company’s ability to provide turnkey engineering solutions from anywhere in the world.
Richey said he plans to aggressively expand Doble, the flagship company of ESCO’s Utility Solutions Group, which currently has 95% of market share. As there is a global need for more intelligent energy grids due to the retiring of qualified personnel, the company’s dobleARMS could provide a solution through its centralized grid intelligence solution with automated sensors at customer location, according to him.
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