On April27, 2018, Moog Inc. (the “Company”) issued a press release discussing results of operations for the quarter ended March31, 2018. A copy of the press release is included as exhibit 99.1 of this report.

The information in this report is being furnished to Item 2.02 of Form 8-K and shall not be deemed to be “filed” for purposes of Section 18 of the Securities and Exchange Act of 1934 (the “Exchange Act”) or otherwise be subject to the liability of that section, nor shall it be deemed incorporated by reference in any filing under the Exchange Act or the Securities Act of 1933, except as expressly stated by specific reference in such a filing.

On April 27, 2018, the Company announced, after several years of investment, that there is no longer a viable business model for the wind pitch control business. As we phase out our participation in this market over the next six months, we will continue to meet the customers' needs throughout the life of the product. As a result, the Company recorded a pre-tax restructuring change of approximately $31 million in the quarter ended March 31, 2018. The charge taken consists of $14 million of non-cash charges for the impairment of long-lived assets, $7 million of other non-cash charges, primarily for inventory reserves, $7 million for severance and $2 million for other costs. These actions will result in workforce reductions, principally in Germany and China.

The severance and other costs will result in cash payments during the remainder of 2018, with completion expected by the first quarter of 2019.

MOOG INC. Exhibit
EX-99.1 2 ex991-042718.htm EXHIBIT 99.1 Exhibit                             Press Information MOOGINC.,…
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About MOOG INC. (NYSE:MOG.A)

Moog Inc. is a designer, manufacturer and integrator of precision motion and fluid controls and systems for a range of applications in aerospace and defense and industrial markets. The Company has five segments: Aircraft Controls, Space and Defense Controls, Industrial Systems, Components and Medical Devices. Its Aircraft Controls segment designs, manufactures and integrates primary and secondary flight controls for military and commercial aircraft, and provides aftermarket support. Its Space and Defense Controls segment provides controls for satellites, space vehicles, launch vehicles, armored combat vehicles, tactical and strategic missiles, security and surveillance and other defense applications. Its Industrial Systems segment serves a global customer base across various markets. Its Components segment offers slip rings, fiber optic rotary joints, motors, sensors and handpieces product line. Its Medical Devices segment focuses on infusion therapy and enteral clinical nutrition.