About Pti Technologies Inc.
ESCO Technologies is a diversified manufacturer that addresses several markets. The company provides highly engineered filtration and fluid control products for the aviation, navy, space and process markets worldwide, as well as composite-based products and solutions. Test products include electromagnetic compatibility equipment such as antennas, probes, turntables, and calibration equipment as well as radio-frequency shielding products. ESCO's customers are in the commercial and military aerospace, space, healthcare, wireless, consumer electronics, electric utility, and renewable energy industries Subsidiaries include PTI, Doble, VACCO, and ETS-Lindgren. About 75% of sales are to customers in the US.
ESCO operates through three reportable segments: Aerospace & Defense (formerly called Filtration/Fluid Flow), Utility Solutions Group (USG) and RF Shielding and Test (Test).
Aerospace & Defense segment accounts for about 50% of the company's total revenue. Consists of PTI, VACCO, Crissair, Mayday, Hi-Tech, as well as Westland and Globe, this segment primarily designs and manufactures specialty filtration and naval products, including hydraulic filter elements and fluid control devices, unique filter mechanisms and custom designed filters, products and systems to reduce vibration and/or acoustic signatures and otherwise reduce or obscure a vessel's signature, and other communications, sealing, surface control and hydrodynamic related applications to enhance U.S. Navy maritime survivability; precision-tolerance machined components and metal processing services.
The USG segment generates about 25% of the company's revenue. Its operations consist of Doble, and NRG. Doble develops, manufactures and delivers diagnostic testing and data management solutions that enable electric power grid operators to assess the integrity of high-voltage power delivery equipment. NRG designs and manufactures decision support tools for the renewable energy industry, primarily wind and solar.
The Test segment provides the remaining nearly 25% of the company's revenue. The segment's operations consist of ETS-Lindgren and related subsidiaries. ETS-Lindgren provides its customers with the ability to identify, measure and contain magnetic, electromagnetic and acoustic energy. It also manufactures radio frequency shielding products and components used by manufacturers of medical equipment, communications systems, electronic products, and shielded rooms for high-security data processing and secure communication.
Headquartered in St. Louis, Missouri, ESCO operates in more than 20 locations including in California, Texas, Oklahoma, Finland, China, and Canada. The company generates about 75% of revenue in the US, nearly 15% in Asia, more than 5% in Europe and about 5% in Canada. India and other account for the remaining.
Sales and Marketing
ESCO's products are generally distributed to customers through a domestic and foreign network of distributors, sales representatives, direct sales teams and in-house sales personnel. Some of its products are sold directly or indirectly to the US Government under contracts with the Army, Navy and Air Force and subcontracts with prime contractors of such entities. Direct and indirect sales to the US Government, primarily related to the Aerospace & Defense segment, accounts for about 30%, of the company's total revenue.
Net sales increased $6.9 million, or 1.0%, to $732.9 million in 2020 from $726.0 million in 2019. The increase in net sales in 2020 as compared to 2019 was due to a $28.6 million increase in the Aerospace & Defense segment, partially offset by a $20.2 million decrease in the USG segment and a $1.5 million decrease in the Test segment.
The company's net income for fiscal 2020 increased to $102 million compared from the prior year with $81 million.
Cash held by the company at the end of 2020 decreased by $9.2 million to $52.7 million compared from the prior year with $61.8 million. Cash provided by operations and investing activities were $82.3 million and $141 million, respectively. Cash used for financing activities was $236.2 million, mainly for principal payments on long-term debt.
ESCO's corporate strategy is centered on a multi-segment approach designed to enhance the strength and sustainability of sales and earnings growth by providing lower risk through diversification.
501 Del Norte Blvd
Oxnard, CA 93030-7983
Phone: 1 (805) 604-3700
Employer Type: Privately Owned
Sr. Vice President: Beth Kozlowski
SENIOR COST AND FINANCIAL ACCOUNTANT: Julio Magana
Chief Engineer: Bijan Mouhebaty
Employees (This Location): 212
Employees (All Locations): 220