33619--12/21/2007--ESTERLINE_TECHNOLOGIES

related topics

{regulation, government, change}

{financial, litigation, operation}

{competitive, industry, competition}

{product, market, service}

{customer, product, revenue}

{tax, income, asset}

{cost, regulation, environmental}

{property, intellectual, protect}

{operation, international, foreign}

{personnel, key, retain}

{acquisition, growth, future}

{debt, indebtedness, cash}

{stock, price, operating}

{condition, economic, financial}

Risks Relating to Our Business and Our Industry Implementing our acquisition strategy involves risks, and our failure to successfully implement this strategy could have a material adverse effect on our business. Our future financial results could be adversely impacted by asset impairment charges. The loss of a significant customer or defense program could have a material adverse effect on our operating results. Our operating results are subject to fluctuations that may cause our revenues to decline. Political and economic changes in foreign countries and markets, including foreign currency fluctuations, may have a material adverse effect on our operating results. We may not be able to compete effectively. Our backlog is subject to modification or termination, which may reduce our sales in future periods. Changes in defense procurement models may make it more difficult for us to successfully bid on projects as a prime contractor and limit sole-source opportunities available to us. The amount of debt we have outstanding, as well as any debt we may incur in the future, could have an adverse effect on our operational and financial flexibility. If we were unable to protect our intellectual property rights adequately, the value of our products could be diminished. We may lose money or generate less than expected profits on our fixed-price contracts. We depend on the continued contributions of our executive officers and other key management, each of whom would be difficult to replace. A downturn in the aircraft market could adversely affect our business. The market for our products may be affected by our ability to adapt to technological change. Our business is subject to government contracting regulations, and our failure to comply with such laws and regulations could harm our operating results and prospects. A significant portion of our business depends on U.S. government contracts, which contracts are often subject to competitive bidding, and a failure to compete effectively or accurately anticipate the success of future projects could adversely affect our business. The airline industry is heavily regulated and if we fail to comply with applicable requirements, our results of operations could suffer. Future asbestos claims could harm our business. Environmental laws and regulations may subject us to significant liability. We may be required to defend lawsuits or pay damages in connection with the alleged or actual harm caused by our products.

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33619--12/21/2007--ESTERLINE_TECHNOLOGIES_CORP