ESCO Technologies Inc. (ESE) 2006年年度报告「NYSE」.pdf

1、2 0 0 6 A N N UA L R E P O R TCommunicationsFiltration/Fluid FlowRF Shielding&TestESCO TECHNOLOGIES INC.Market PerformanceRussell 2000Peer GroupESCO Technologies Inc.2002 2003 2004 2005 2006175100250325400$475ESCO Technologies Inc.Peer GroupRussell 2000 IndexThe Market Performance graph depicted her

2、e includes a peer group comprised of Pall Corporation,Clarcor Inc.,Badger Meter Inc.,Itron Inc.,Roper Industries Inc.and Tektronix Inc.A more detailed discussion is available in the Companys Proxy Statement.Cumulative Total Return for Fiscal Years ended September 30 for$100 invested on September 30,

3、2001 in stock or index,including reinvestment of dividendsContents 1 Letter To Shareholders 3 Company Overview 4 Communications 6 Filtration/Fluid Flow 8 RF Shielding&Test 10 Commitment To Communities 11 Financial Section 12 Report of the CFO 13 Managements Discussion and Analysis 25 Financial State

4、ments 30 Notes to Consolidated Financial Statements 46 Accountability Reports 50 Five-Year Financial Summary 51 Shareholders Summary 52 Management and DirectorsTo Our Shareholderslthough 2006 was a challenging year for ESCO,our operational performance was consistent with the expectations set forth a

5、t the beginning of the year,and we were able to success-fully complete several of our strategic objectives.A year ago,I discussed our plans within the Communications segment to continue investing in new product development,sales and marketing,software upgrades,and complementary ac-quisitions.The inv

6、estments that we made in 2006,in both technology and acquisition partners,have positioned us for significantly improved financial performance in 2007,and should result in meaningful sales and earnings growth for the foreseeable future.This growth will provide the opportunity to increase long-term sh