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Soaring to New Heights for 80 Years and Counting Soaring to New Heights For 80 years and counting 10 Waterview Boulevard, Parsippany, New Jersey 07054 www.curtisswright.com 80 Years of Achievement Eighty years ago, Curtiss-Wright was formed by the merger of companies created by Glenn Curtiss and the Wright brothers — pioneers who soared to new heights of human achievement that ushered in the era of aviation. Considered by many to be the single most important invention of the 20th century, manned flight forever altered the way in which humans interact globally, breaking down cultural barriers and integrating business markets. The innovative and trailblazing spirit of these founders made history, and today Curtiss-Wright is still leading through innovation. The world has changed dramatically over the ensuing decades and so has Curtiss-Wright. Yet the founders’ drive and determination is echoed by Curtiss-Wright’s current employees and is best captured through the lenses of performance, partnership and intrinsic value. 2009 Annual Report Soaring to New Heights For 80 years and counting 80 Years of Achievement Eighty years ago, Curtiss-Wright was formed by the merger of companies created by Glenn Curtiss and the Wright brothers — pioneers who soared to new heights of human achievement that ushered in the era of aviation. Considered by many to be the single most important invention of the 20th century, manned flight forever altered the way in which humans interact globally, breaking down cultural barriers and integrating business markets. The innovative and trailblazing spirit of these founders made history, and today Curtiss-Wright is still leading through innovation. The world has changed dramatically over the ensuing decades and so has Curtiss-Wright. Yet the founders’ drive and determination is echoed by Curtiss-Wright’s current employees and is best captured through the lenses of performance, partnership and intrinsic value. 2009 Annual Report Aircraft Carriers Submarines Shareholder Information Electro-Mechanical Systems Surface Ships Hydroelectric Power Generation Commercial Power Corporate Headquarters Stock Transfer Agent Investor Information Services 10 Waterview Boulevard, 2nd Floor and Registrar Investors, stockbrokers, security analysts Parsippany, New Jersey 07054 and others seeking information about Commercial Nuclear Processing/Refining For services such as changes of address, Power Generation www.curtisswright.com replacement of lost certificates or Curtiss-Wright Corporation should contact Oil & Gas Systems Tel: (973) 541-3700 dividend checks, and changes in Alexandra M. Deignan, Director of Investor registered ownership, or for inquiries Relations, at the Corporate Headquarters. Flow Control Annual Meeting as to account status, write to American Fossil-Fired General Shareholder Communications Valve Systems The 2010 annual meeting of stockholders Stock Transfer & Trust Company at Power Generation Industrial will be held on May 7, 2010, at 10:00 a.m., 59 Maiden Lane, New York, New York Any interested party wishing to Control Systems at the Parsippany Sheraton Hotel, 199 10038. Please include your name, communicate directly with our Board of Smith Road, Parsippany, New Jersey 07054. address and telephone number with all Directors should write to Dr. William W. correspondence. Telephone inquiries Sihler at Southeastern Consultants Group, Stock Exchange Listing may be made to (800) 937-5449 or LTD, P.O. Box 5645, Charlottesville, The Corporation’s common stock is (212) 936-5100 internationally. Virginia 22905. Commercial Ground Defense Auto Racing Aerospace listed and traded on the New York Stock Internet inquiries should be directed to Exchange under the symbol CW. www.amstock.com. Hearing-impaired Financial Reports shareholders are invited to log on to the This brochure includes some of the Common Shareholders website and select the Live Chat option. periodic financial information required Engineered Systems Integrated Sensing As of December 31, 2009, the approximate to be on file with the Securities and Direct Stock Purchase Plan/ number of holders of record of common Exchange Commission. The Corporation Military Aerospace Municipal Vehicles Commercial Ships stock, par value of $1.00 per share of the Dividend Reinvestment Plan also files an Annual Report on Form 10-K, a copy of which may be obtained Corporation, was 5,797. A plan is available to purchase or sell free of charge. These reports, as well as shares of Curtiss-Wright common stock. Forward-Looking Statements additional financial documents such as The plan provides a low-cost alternative Motion Control proxy statements and quarterly reports on This brochure contains not only historical to the traditional methods of buying, Form 10-Q, may be obtained by written Embedded Computing Helicopters High-Speed Trains Recording Studios information, but also forward-looking holding and selling stock. The plan also request to Alexandra M. Deignan, Director statements regarding expectations of future provides for the automatic reinvestment of Investor Relations, at the Corporate performance of the Corporation. Forward- of Curtiss-Wright dividends. For more Headquarters, or at the Corporation’s looking statements involve risk and information, contact our transfer agent, website, www.curtisswright.com. uncertainty. Please refer to the Corporation’s American Stock Transfer & Trust 2009 Annual Report on Form 10-K for a Company, toll-free at (877) 854-0844. discussion relating to forward-looking Commercial Off-Road/Construction Commercial Nuclear Aerospace Equipment Power Generation statements contained in this brochure and risk factors that could cause future results to differ from current expectations. Shot Peening Laser Peening Automotive Farm Vehicle Fossil-Fired Equipment Power Generation Design: Eisenman Associates Photos courtesy of: The Boeing Company; General Dynamics Electric Boat; General Dynamics Land Systems, Inc.; Glenn H. Curtiss Museum, Hammondsport, NY; Library of Congress; Naval History and Heritage Command; NASA; Rolls-Royce plc; and Special Collections and Archives, Wright State University Metal Treatment Oil & Gas General Architectural Industrial Specialty Coatings Thermal Treatment 2 | Letter to Shareholders Dear Shareholders: The year 2009 marks a milestone in the history of our company. The formation of Curtiss-Wright 80 years ago united the visionary corporations created by the “Fathers of American Aviation” — Glenn Curtiss and the Wright brothers. Innovation and discipline drove our founders’ success, and they were able to achieve what few people had even envisioned. The drive for technological innovation capitalization will enable us to actively and superior performance still fuels pursue our strategic growth plan. Curtiss-Wright today. The Wright brothers’ In 2009, net sales of $1.8 billion represented critical wing designs and Curtiss’ engine a decline of 1% from the prior year. This advances are echoed today in stealth is not to say we did not endure difficulty. weapon bay door systems on fighter jets, Certainly, sagging demand for energy, Martin R. Benante command and control of next-generation Chairman and Chief Executive Officer transportation and industrial goods led to unmanned aircraft and ground vehicles, significant contractions in our commercial generators and pumps that power nuclear markets. While hardships in the general submarines and aircraft carriers, and economy provided significant headwinds, fully automated technology advances that they were essentially offset by the buildup keep people out of harm’s way in vital of our commercial nuclear business and the power generation, refining and industrial momentum of defense spending. operations around the world. Our operating profitability was negatively I have often cited the importance of impacted primarily by the sharp drop in our diversified business model to our commercial demand, resulting in an operating long-term success. That diversification, margin of 9.4% versus 10.7% in the prior combined with our focus on innovation year. While we focus on lean efficiency and high-performance engineering, adds improvements in good times and bad, in 2009 stability to our results and supports we accelerated business consolidation and growth through varying economic restructuring activities across our operations. conditions. This was again true in 2009. Lowering costs to respond to reduced market 2009 Performance demand is, frankly, an unrewarding task, but we implemented our plans swiftly, and the Without a doubt, 2009 was a year full of result is a leaner, more efficient operation challenges that the global economy has not that will ultimately benefit from our cohesive experienced in decades. The ripple effect strategy. Some of the benefits from these of the financial market meltdown, volatile actions came in fiscal 2009, but we expect energy prices and a dramatic downward further leverage from these improvements for correction in the housing market manifested our businesses going forward. early in 2009 with a 6.4% decline in gross domestic product and concluded the year On the bottom line, our net earnings of $95 with double-digit unemployment. While million, or $2.08 per fully diluted share, many reactions centered on cost cutting, reflect a less than satisfying 13% decline cash conservation and otherwise battening from the prior year, but still an impressive down the hatches, our strong backlog achievement in light of the challenges and portfolio diversification enabled us to endured. Furthermore, our significant successfully
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