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Curtiss-Wright

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Industry Aerospace & Defense
Employees 5001-10,000
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FY2015 Annual Report · Curtiss-Wright
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Curtiss-Wright Corporation
13925 Ballantyne Corporate Place, Suite 400
Charlotte, NC 28277

www.curtisswright.com

2015 Annual Report

 
 
 
 
 
 
Intense Focus.
Great Results.

Curtiss-Wright is driven by strong leadership and results-oriented 
team members dedicated to achieving top quartile financial 
performance within our peer group. Continuing our journey as  
One Curtiss-Wright, we remain committed to delivering long-term 
shareholder value.

Curtiss-Wright Corporation is a global diversified industrial company built on 
long-standing customer relationships, leading market positions and advanced, 
highly-engineered technologies. Our legacy dates back to 1929 with the merger of 
companies founded by aviation pioneers Glenn Curtiss and the Wright Brothers. 

Headquartered in Charlotte, N.C., Curtiss-Wright employs approximately 8,400 men 
and women dedicated to providing outstanding service and innovative products to 
customers worldwide.

We encourage you to read the on-line annual report at  
www.curtisswright.com/investors/annual-report-and-proxy

Shareholder Information

Corporate Headquarters

13925 Ballantyne Corporate Place, Suite 400 
Charlotte, NC 28277 
www.curtisswright.com 
Tel: (704) 869-4600

Annual Meeting

The 2016 annual meeting of stockholders will be held on 
Friday, May 6, 2016 at 1:30 p.m. local time at The Ballantyne 
Hotel & Lodge, 10000 Ballantyne Commons Parkway,  
Charlotte, NC 28277.

Stock Exchange Listing

The Corporation’s common stock is listed and traded on the New 
York Stock Exchange under the symbol CW.

Direct Stock Purchase Plan/ 
Dividend Reinvestment Plan

A plan is available to purchase or sell shares of Curtiss-Wright 
common stock. The plan provides a low-cost alternative to the 
traditional methods of buying, holding and selling stock. The plan 
also provides for the automatic reinvestment of Curtiss-Wright 
dividends. For more information, contact our transfer agent, 
Broadridge Corporate Issuer Solutions, Inc.,  
P.O. Box 1342, Brentwood, NY 11717, toll-free at (855) 449-0995.

Investor Information

Investors, stockbrokers, security analysts and others  
seeking information about Curtiss-Wright Corporation  
should contact James M. Ryan, Director of Investor Relations,  
at (704) 869-4600 or investor@curtisswright.com

Common Shareholders

Shareholder Communications

As of December 31, 2015, the approximate number of registered 
holders of record of common stock, par value of $1.00 per share 
of the Corporation, was 4,038.

Forward-Looking Statements

This brochure contains not only historical information, but also 
forward-looking statements regarding expectations of future 
performance of the Corporation. Forward-looking statements 
involve risk and uncertainty. Please refer to the Corporation’s 
2015 Annual Report on Form 10-K for a discussion relating to 
forward-looking statements contained in this brochure and risk 
factors that could cause future results to differ from current 
expectations.

Stock Transfer Agent and Registrar

For services such as changes of address, replacement of lost 
certificates or dividend checks, and changes in registered 
ownership, or for inquiries as to account status, write to 
Broadridge Corporate Issuer Solutions, Inc., P.O. Box 1342, 
Brentwood, NY 11717 or overnight to 1155 Long Island Avenue, 
Brentwood, NY 11717. Please include your name, address and 
telephone number with all correspondence. Telephone inquiries 
may be made toll-free to (855) 449-0995, or to (720) 864-4772 
internationally. Internet inquiries should be directed to  
http://shareholder.broadridge.com/curtisswright and by email to 
shareholder@broadridge.com. Hearing-impaired shareholders 
are invited to log on to the website and select  
the Live Chat option.

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Any stockholder wishing to communicate directly with our Board 
of Directors should write to Albert E. Smith, c/o  
Curtiss-Wright Corporation, 13925 Ballantyne Corporate Place, 
Suite 400 Charlotte, NC 28277.

Financial Reports

This brochure includes some of the periodic financial information 
required to be on file with the Securities and Exchange 
Commission. The Corporation also files an Annual Report on 
Form 10-K, a copy of which may be obtained free of charge. 
These reports, as well as additional financial documents such as 
quarterly shareholder reports, proxy statements, and quarterly 
reports on Form 10-Q, may be obtained by written request to 
James M. Ryan, Director of Investor Relations, at the Corporate 
Headquarters or through the Investor Relations section of the 
Corporation’s website: www.curtisswright.com.

Photos courtesy of: U.S. Navy/Mass Communication Specialist 1st Class  
Steven Myers/Released; Pilatus Aircraft LTE.

CURTISS-WRIGHT CORPORATION 2015 ANNUAL REPORT

 
 
 
 
Financial Highlights

Net Sales

Operating Income

Operating  
Margin (%)

Diluted Earnings 
Per Share

Free Cash Flow*

$2,243

$2,206

$2,118

$311

$282

$237

14.1%

$4.04

$265

$272

12.6%

11.2%

$3.46

$2.91

$166

2013

2014

2015

2013

2014

2015

2013

2014

2015

2013

2014

2015

2013

2014

2015

All figures reported on a continuing operations basis. Dollars in millions, except per share data.

14.1% Operating 

margin

$272 Free cash 

flow*

MILLION

End Market Sales (2015)

Defense

36%

%
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4
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4

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Commercial  
Aerospace

18%

Power Generation

General Industrial

20%

26%

*  Free cash flow is defined as cash flow from operations less capital expenditures. 2015 adjusted to 
remove the $145 million contribution to the Company’s corporate defined benefit pension plan.

CURTISS-WRIGHT CORPORATION 2015 ANNUAL REPORT

1

 
 
 
Dear Fellow Shareholders

In 2015, we continued our journey 
to top quartile performance by 
producing significant operating 
margin expansion and strong free 
cash flow. I’m proud of our team’s 
perseverance in navigating through 
economic and end market challenges 
while also achieving new industry-
changing, technological milestones. 
Our team remains intensely focused 
on opportunities to grow our core 
business, drive increased operating 
efficiency and achieve steady  
cost reductions to ensure that 
Curtiss-Wright is positioned well for 
long-term growth.

David C. Adams
Chairman and Chief Executive Officer

2

CURTISS-WRIGHT CORPORATION 2015 ANNUAL REPORT

As we look to the future, it is essential that we leverage the 
critical mass of One Curtiss-Wright to remain competitive, 
sustain our technological leadership and improve our efficiency. 
Over the last few years, we refined our approach to market as 
a single, aligned company, increasing value to our customers, 
employees and shareholders. We implemented aggressive cost 
reduction actions and achieved savings that would not have 
been possible without unifying the entire business. 

We are dedicated to achieving and maintaining our status in 
the top quartile of our peer group — for all of our key financial 
metrics. As we continue that journey, we will seek strategic 
acquisitions to supplement our organic growth while ensuring 
that we do not undermine the team’s strong operational 
achievements.

Key to Our Future: Growing the Core 

Curtiss-Wright is a leading provider of state-of-the-art critical 
solutions and advanced technologies to the commercial 
aerospace, defense, general industrial and power generation 
markets. Sustained innovation and new product development 
are among Curtiss-Wright’s key hallmarks as exemplified by our 
numerous scientists, engineers and technical teams. 

It is crucial that we continue to expand our core technological 
offering, and accordingly, we are dedicated to reinvesting in 
our business to drive organic growth. Further, the reliability of 
Curtiss-Wright’s products and services has led to decades-long 
customer relationships. Through additional investments in 
Research and Development, we will ensure our technology 
endures well into the future.

Leverage the Scale of a Global Diversified  
Industrial Company

Curtiss-Wright has maintained its strategic plan despite 
challenging economic conditions. With a highly diversified 
technology portfolio, we manage an extensive suite of advanced 
engineered products and services, with critical technologies and 
applications.

We will continue to grow our global footprint, significantly 
expanding the geographic diversity and competitiveness of our 
business into key markets throughout Asia, Europe and South 
America. With 30% of our sales to international customers, it 
is critical we leverage our relationships and enter new markets 
to further diversify our business and provide opportunities to 
expand our overall market share.

150bps Improvement in 

operating margin

Key Achievements in 2015 

We highlight several of Curtiss-Wright’s key accomplishments on 
the following pages. 

One of the most noteworthy achievements involved our reactor 
coolant pumps (RCPs) on the AP1000 nuclear program. We 
successfully completed testing, made final design modifications 
and reached full qualification of our RCP, which led to the 
receipt of the long-awaited order from China. The China AP1000 
RCP order, worth more than $450 million, is the largest single 
order ever received by Curtiss-Wright.

We also completed necessary portfolio rationalization, most 
notably through the divestiture of several oil & gas operations, 
significantly reducing our direct exposure to the volatile  
oil industry.

Financial Performance 

We were pleased with our operating performance in 2015, 
producing solid operating margin expansion and strong 
free cash flow generation despite lower sales. Net sales of 
$2.2 billion decreased 2% from the prior year, driven by weaker 
economic and market conditions in several of our industrial 
businesses. We generated a 10% increase in operating income 
and drove operating margin up 150 basis points on a continuing 
operations basis to 14.1%, reflecting the benefits of our ongoing 
operating margin improvement initiatives as well as the new 
China AP1000 RCP order. Our net earnings from continuing 
operations grew 13% to $192 million, or $4.04 per diluted share.

Our free cash flow was $272 million, adjusted to remove the 
$145 million contribution to the Company’s corporate defined 
benefit pension plan, which equated to 141% free cash flow 
conversion. Our strong cash flow position was aided by lower 
capital expenditures and our efforts to steadily reduce working 
capital. Our balance sheet remains healthy and provides a 
solid base of financial flexibility to continue the pursuit of our 
growth strategies. Additionally, our Return on Invested Capital 
increased 110 basis points to 11.5% due to improved operating 
performance and stringent capital management.

As a sign of our continued financial success, Curtiss-Wright was 
added to the S&P MidCap 400 stock market index in early 2016, 
where previously a constituent in the SmallCap 600 Index.

Disciplined Capital Allocation Strategy 

Curtiss-Wright remains committed to a disciplined and balanced 
capital allocation strategy that consists of reinvesting in our 
business, supplementing our organic growth with acquisitions 

110bps Improvement  

in ROIC

$300M in share 

repurchases

and providing steady distributions to our shareholders in the 
form of share repurchases and dividends in order to maximize 
shareholder value.

During 2015, we maintained an active share repurchase 
program and by early 2016, we completed the previously 
authorized $300 million share repurchase program. We also 
maintained a steady annual dividend payout of $0.52 per share. 
In December 2015, we announced our intent to repurchase at 
least $100 million in shares in 2016, under a new $200 million 
authorization, which is expected to more than offset the dilution 
from our compensation plans and also supplement our long-
term earnings growth objectives.

Together, these actions reflect the Board of Directors’ continued 
confidence in our ability to deliver solid, profitable growth and 
strong free cash flow.

In Recognition

It is with sincere best wishes that we announce the retirement 
of our colleague, Dr. William W. Sihler, from our Board of 
Directors. Bill has been an integral member of our Board for 
more than 25 years, providing a wealth of insight and vital 
counsel. During his tenure, he served as chairman of the Audit 
Committee and as a member of the Finance Committee.  
I personally would like to thank Bill for his dedication and 
service to Curtiss-Wright and wish him well in his future 
endeavors.

As always, I would like to thank our 8,400 employees for their 
untiring efforts and hard work. Their ongoing dedication and 
commitment will ensure Curtiss-Wright’s continued success.

I look forward to Curtiss-Wright’s achievements in 2016 and 
remain excited for the future. We will continue to grow our 
business both organically and through strategic acquisitions, 
advancing our critical technologies to ensure industry 
leadership. We will continue to deliver on the One Curtiss-
Wright vision to improve our operational efficiency and 
support our competitiveness. Finally, we remain committed to 
driving operating margin expansion, significant free cash flow 
generation and steady distributions to our shareholders to 
deliver long-term shareholder value.

David C. Adams
Chairman and Chief Executive Officer

CURTISS-WRIGHT CORPORATION 2015 ANNUAL REPORT

3

Major Accomplishments

AP1000® Reactor Coolant Pumps 
(RCPs)

Portfolio Optimization

Completed all required RCP testing

Jun. 2015: Successfully completed engineer-
ing and endurance testing, and implemented 
final design modifications to support safe and 
reliable AP1000 plant operation.

Successfully reached full 
qualification

Oct. 2015: Completed extensive China  
regulator reviews and post-test inspections 
confirming that our RCP performed as  
required during the final performance testing 
to reach full qualification.

Began shipment of RCPs

Nov. 2015: Began shipping RCPs for Sanmen 
Unit 1 in China, the world’s first AP1000 
nuclear power plant. In total, 16 RCPs will be 
shipped to two plants in China, as well as 16 
to two U.S. plants.

Received new order to supply  
RCPs to China

Dec. 2015: Awarded contracts valued in 
excess of $450 million, with a total potential 
value of approximately $500 million including 
incentives, to provide 16 RCPs for Generation 
III commercial nuclear power plants in China.

In December 2013, we committed to improv-
ing our operating margins in order to reach 
upper quartile performance compared to our 
peer group. One of the key initiatives was 
portfolio rationalization. We began in 2014 to 
drive an improved focus on core businesses 
and better align with our long-term objectives 
of operating margin expansion and free cash 
flow generation, while also positioning  
Curtiss-Wright for sustained future growth.

By mid-2015, we completed our 
planned divestitures including:

Oil & Gas downstream: Several of our  
project-oriented downstream oil and gas  
businesses, where we did not possess sufficient 
critical mass to achieve leading positions. 
(The Company previously divested its entire 
upstream processing operation in 2014.)

Significantly reduced 
our exposure to the  
oil & gas market.

Engineered Packaging: Provider of  
electronic packaging solutions for military 
and aerospace customers.

Douglas Equipment: Manufacturer of 
ground support equipment for the aviation 
industry.

Photo © Sanmen Nuclear Power Company. All rights reserved

Secured  
order  
exceeding 
$450M  
to provide 
AP1000 plant 
RCPs to China

4

CURTISS-WRIGHT CORPORATION 2015 ANNUAL REPORT

Key Contracts 

Balanced Capital Allocation

Innovation

Pilatus 1st flight

Celebrated the successful first flight of the  
Pilatus twin-engine PC-24 business jet, which 
is supported by critical Curtiss-Wright flight 
control equipment, including the Electro-
Mechanical (EM) Spoiler and Flap Actuation 
System, as well as the Hydraulic Power 
Generation System.

Virginia Class submarines

Awarded $480 million in contracts to supply 
pumps, valves, generators and propulsors 
for the U.S. Navy’s Block IV Virginia Class 
Submarine Program.

Curtiss-Wright remains committed to a 
disciplined and balanced capital allocation 
strategy that consists of reinvesting in our 
business, supplementing our organic growth 
with strategic bolt-on acquisitions, and re-
turning capital to shareholders through share 
repurchase and dividend distributions to drive 
long-term shareholder value.

Active share repurchase program

The Company completed $300 million in 
share repurchases in 2015, under a previous 
program authorized in late 2014, buying back 
4.3 million shares of our common stock.

In December 2015, our Board of Directors 
authorized a new $200 million share 
repurchase program, under which the 
Company expects to repurchase at least 
$100 million in stock during 2016.

Acquisition of Bolt’s Metallizing

On March 16, we acquired Bolt’s Metallizing, a 
leading provider of thermal spray coatings for 
critical aerospace applications, including high 
velocity oxygen fuel (HVOF) and plasma spray 
coating capabilities.

U.K. SCOUT TDSS

Received $49 million contract to provide the 
Turret Drive Servo System (TDSS), a weapon 
aiming and stabilization system, for use in the 
British Army’s new SCOUT Reconnaissance 
vehicle.

U.S. Army MML

Awarded contract with $75 million lifetime 
value to supply elevation and hatch control 
electromechanical actuators for the  
U.S. Army’s Multi-Mission Launcher (MML) 
program, a next generation air defense 
launcher system.

Machine Learning for Advanced 
System Diagnostics

For large Data Acquisition Systems, 
sensor and wiring fault tracking is 
very time consuming and difficult 
to achieve in a modern accelerated 
flight test schedule. However, aero-
space is an unforgiving environment, 
and it is absolutely critical to ensure flight 
test data is valid. Curtiss-Wright developed 
new ways to reduce time and increase  
efficiency in ensuring the accuracy of  
on-board sensor networks.

Our Data Acquisition Instrumentation  
engineers are radically reducing network 
testing time by creating automated anomaly 
detection algorithms based on Machine 
Learning techniques —  a significant departure 
from current diagnostic approaches.

Advanced Control Systems 
Improving Quality of Life

Curtiss-Wright is a leader in the 
“rehabilitation” wheelchair 
marketplace, helping provide 
ways for the severely disabled to 
better interact with the environ-
ment. Our innovative control system 
manages the speed, direction and oth-
er key functions in these sophisticated 
chairs, including connectivity to appliances 
and smart devices leveraging Internet of 
Things technologies.

Human-Machine Interface in 
Commercial Vehicles

Curtiss-Wright is driving innovation in the 
area of Human Machine Interface (“HMI“) 
systems for commercial vehicles —  a 
connector between the operator and the 
operating environment. Our products are 
leveraged to extend existing HMI sub-systems 
by replacing mechanical controls with electro-
mechanical solutions in a variety of specialty 
vehicles. These fully-integrated systems 
improve safety and efficiency by linking 
various HMI components, thus reducing the 
form factor and improving functionality.

CURTISS-WRIGHT CORPORATION 2015 ANNUAL REPORT

5

Segment Financial Information

Year ended December 31 (Dollars in millions, except percentages; unaudited)

2015

2014

Change

Sales

Commercial/Industrial

Defense

Power

Total sales

Operating income (expense)

Commercial/Industrial

Defense

Power

Total segments

Corporate and other

Total operating income

Operating margins

Commercial/Industrial

Defense

Power

Segment margins

Total operating margin

Note: Amounts may not add to the total due to rounding.

Sales by Segment vs. End Market (2015)  

(4%)

(3%)

3%

(2%)

(4%)

20%

46%

10%

(15%)

10%

$  1,184.8 

$  1,228. 1 

477.4 

543.5 

489.9 

525.2 

$  2,205.7 

$ 2,243. 1 

$ 

171.5 

$ 

178.7 

98.9 

75.0 

$ 

345.4 

(34.8)

$ 

310.6 

14.5%

20.7%

13.8%

15.7%

14.1%

82.6 

51.4 

$  312.7 

(30.3)

$  282.4 

14.5%

16.9%

9.8%

13.9%

12.6%

Commercial/Industrial

Defense

Power

General Industrial (48%)

Commercial Aerospace (30%)

Aerospace Defense (9%)

Naval Defense (7%)

Power Generation (6%)

Aerospace Defense (44%)

Naval Defense (27%)

Ground Defense (17%)

Commercial Aerospace (10%)

General Industrial (2%)

Power Generation (67%)

Naval Defense (33%)

6

CURTISS-WRIGHT CORPORATION 2015 ANNUAL REPORT

 
Historical Financial Performance

Three-Year Review

For the years ended December 31  
(Dollars in millions, except per share data; unaudited)

Performance(1)

Net sales

Operating income

Operating margin

Net earnings

Earnings per share

     Basic

     Diluted

Dividends per share

Return on invested capital(2)

New orders

Backlog at year end

Year-end financial position

Working capital as % of sales(3)

Total assets

Total debt

Stockholders' equity

Other year-end data

Cash flow from operations

Capital expenditures

Free cash flow(4)

EBITDA

Depreciation and amortization

Shares of stock outstanding at December 31

Number of registered shareholders(5)

Number of employees(5)

2015

2014

2013

$ 2,205.7 

$

$

$

$

$

310.6 

14.1%

192.2 

4.1 2

4.04 

0.52 

11.5%

$ 2,585.0 

$ 1,928.7 

25.4%

$ 3,029.4 

$

954.3

$ 1,255.4

$

$

$

$

$

162.5 

35.5 

272.0 

411.4 

100.8 

44.6 

4,038 

8,421 

$ 2,243.1 

$ 282.4 

12.6%

$ 169.9 

$

$

$

3.54 

3.46 

0.52 

10.4%

$2,409.2 

$ 1,674.1 

23.4%

$ 3,399.5 

$ 954.3 

$ 1,478.4 

$ 331.8

$

67.1

$ 264.7

$ 401.3

$

118.9 

47.9 

4,321 

8,911 

$ 2,118.1

$

$

$

$

$

237.1

11.2%

139.4

2.97

2.91

0.39

9.5%

$ 2,161.3

$ 1,597.0

25.5%

$ 3,458.3 

$

959.9 

$ 1,552.7

$

$

$

237.8

72.2 

165.6 

$ 358.6 

$

121.5 

47.6 

4,605

9,761

Note: Amounts may not add due to rounding.
(1)  Reported on a continuing operations basis.
(2)  Return on invested capital is equal to net operating profit after-tax over two-year average net debt plus equity and excludes equity from discontinued operations. 
(3)  Working capital is equal to accounts receivable plus inventory minus accounts payable, deferred income and deferred development costs.
(4)  Free cash flow is defined as cash flow from operations less capital expenditures. 2015 adjusted to remove the $145 million contribution to the Company’s corporate 

defined benefit pension plan.
(5) Actual number, not in millions.

Stock Price Range

Dividends per Share

Common

2015

2014

Common

2015

2014

High

Low

High

Low

First quarter

$74.63 

$64.40 

$69.90 

$57.72

First quarter

$0.13

$0.13

Second quarter

Third quarter

Fourth quarter

77.57

73.90

71.86

70.13

61.59

60.73

70.33

73.67

72.99

59.22

60.60

63.90

Second quarter

Third quarter

Fourth quarter

0.13

0.13

0.13

0.13

0.13

0.13

CURTISS-WRIGHT CORPORATION 2015 ANNUAL REPORT

7

 
Directors

David C. Adams
Chairman and Chief Executive Officer

John B. Nathman
Admiral, U.S. Navy (Ret.) 

Dean M. Flatt
Director, Ducommun, Inc.; Former President  
and Chief Operating Officer of Honeywell  
International’s Defense and Space Business

Robert J. Rivet
Former Executive Vice President, Chief Operations, 
and Administrative Officer of Advanced Micro 
Devices, Inc.

S. Marce Fuller
Director, Earthlink, Inc.; Former President and 
Chief Executive Officer of Mirant Corporation, Inc. 
(formerly known as Southern Energy, Inc.)

Dr. William W. Sihler
Ronald E. Trzcinski Professor of Business Admin-
istration, Darden Graduate School of Business 
Administration, University of Virginia

Dr. Allen A. Kozinski
Former Vice President of Global Refining of  
British Petroleum PLC

Albert E. Smith
Director, Tetra Tech, Inc.; Former Executive Vice 
President of Lockheed Martin Corporation

John R. Myers
Former Chairman and Chief Executive Officer of 
Tru-Circle Corporation; Management Consultant; 
Former Non-Executive Chairman of the Board of  
Garrett Aviation Services

Stuart W. Thorn
President and Chief Operating Officer,  
Southwire Company

Officers

David C. Adams
Chairman and Chief Executive Officer

Glenn E. Tynan
Vice President and Chief Financial Officer

Thomas P. Quinly
Vice President and Chief Operating Officer

Paul J. Ferdenzi
Vice President, General Counsel, and  
Corporate Secretary 

Harry S. Jakubowitz
Vice President and Treasurer

K. Christopher Farkas
Vice President and Corporate Controller

8

CURTISS-WRIGHT CORPORATION 2015 ANNUAL REPORT

Intense Focus.
Great Results.

Curtiss-Wright is driven by strong leadership and results-oriented 
team members dedicated to achieving top quartile financial 
performance within our peer group. Continuing our journey as  
One Curtiss-Wright, we remain committed to delivering long-term 
shareholder value.

Curtiss-Wright Corporation is a global diversified industrial company built on 
long-standing customer relationships, leading market positions and advanced, 
highly-engineered technologies. Our legacy dates back to 1929 with the merger of 
companies founded by aviation pioneers Glenn Curtiss and the Wright Brothers. 

Headquartered in Charlotte, N.C., Curtiss-Wright employs approximately 8,400 men 
and women dedicated to providing outstanding service and innovative products to 
customers worldwide.

We encourage you to read the on-line annual report at  
www.curtisswright.com/investors/annual-report-and-proxy

Shareholder Information

Corporate Headquarters

13925 Ballantyne Corporate Place, Suite 400 
Charlotte, NC 28277 
www.curtisswright.com 
Tel: (704) 869-4600

Annual Meeting

The 2016 annual meeting of stockholders will be held on 
Friday, May 6, 2016 at 1:30 p.m. local time at The Ballantyne 
Hotel & Lodge, 10000 Ballantyne Commons Parkway,  
Charlotte, NC 28277.

Stock Exchange Listing

The Corporation’s common stock is listed and traded on the New 
York Stock Exchange under the symbol CW.

Direct Stock Purchase Plan/ 
Dividend Reinvestment Plan

A plan is available to purchase or sell shares of Curtiss-Wright 
common stock. The plan provides a low-cost alternative to the 
traditional methods of buying, holding and selling stock. The plan 
also provides for the automatic reinvestment of Curtiss-Wright 
dividends. For more information, contact our transfer agent, 
Broadridge Corporate Issuer Solutions, Inc.,  
P.O. Box 1342, Brentwood, NY 11717, toll-free at (855) 449-0995.

Investor Information

Investors, stockbrokers, security analysts and others  
seeking information about Curtiss-Wright Corporation  
should contact James M. Ryan, Director of Investor Relations,  
at (704) 869-4600 or investor@curtisswright.com

Common Shareholders

Shareholder Communications

As of December 31, 2015, the approximate number of registered 
holders of record of common stock, par value of $1.00 per share 
of the Corporation, was 4,038.

Forward-Looking Statements

This brochure contains not only historical information, but also 
forward-looking statements regarding expectations of future 
performance of the Corporation. Forward-looking statements 
involve risk and uncertainty. Please refer to the Corporation’s 
2015 Annual Report on Form 10-K for a discussion relating to 
forward-looking statements contained in this brochure and risk 
factors that could cause future results to differ from current 
expectations.

Stock Transfer Agent and Registrar

For services such as changes of address, replacement of lost 
certificates or dividend checks, and changes in registered 
ownership, or for inquiries as to account status, write to 
Broadridge Corporate Issuer Solutions, Inc., P.O. Box 1342, 
Brentwood, NY 11717 or overnight to 1155 Long Island Avenue, 
Brentwood, NY 11717. Please include your name, address and 
telephone number with all correspondence. Telephone inquiries 
may be made toll-free to (855) 449-0995, or to (720) 864-4772 
internationally. Internet inquiries should be directed to  
http://shareholder.broadridge.com/curtisswright and by email to 
shareholder@broadridge.com. Hearing-impaired shareholders 
are invited to log on to the website and select  
the Live Chat option.

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Any stockholder wishing to communicate directly with our Board 
of Directors should write to Albert E. Smith, c/o  
Curtiss-Wright Corporation, 13925 Ballantyne Corporate Place, 
Suite 400 Charlotte, NC 28277.

Financial Reports

This brochure includes some of the periodic financial information 
required to be on file with the Securities and Exchange 
Commission. The Corporation also files an Annual Report on 
Form 10-K, a copy of which may be obtained free of charge. 
These reports, as well as additional financial documents such as 
quarterly shareholder reports, proxy statements, and quarterly 
reports on Form 10-Q, may be obtained by written request to 
James M. Ryan, Director of Investor Relations, at the Corporate 
Headquarters or through the Investor Relations section of the 
Corporation’s website: www.curtisswright.com.

Photos courtesy of: U.S. Navy/Mass Communication Specialist 1st Class  
Steven Myers/Released; Pilatus Aircraft LTE.

CURTISS-WRIGHT CORPORATION 2015 ANNUAL REPORT

 
 
 
 
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Curtiss-Wright Corporation
13925 Ballantyne Corporate Place, Suite 400
Charlotte, NC 28277

www.curtisswright.com

2015 Annual Report