Curtiss-Wright Revises 2004 Full Year and Fourth Quarter Financial Results

Curtiss-Wright Revises 2004 Full Year and Fourth Quarter
Financial Results
$4.4 Million Addition to Environmental Reserve for Fourth Quarter 


ROSELAND, N.J., March 1  /PRNewswire-FirstCall/ -- Curtiss-Wright Corporation
(NYSE: CW; CW.B) announced that it will increase its environmental reserves in
the fourth quarter of 2004.  Accordingly, the Company's management and the
Audit Committee of the Company's Board of Directors have concluded that the
information contained in the Company's 2004 full year and fourth quarter
financial press release furnished to the Securities Exchange Commission on
February 4, 2005, requires revision, a summary of which is presented below.

As part of Curtiss-Wright's on-going internal review processes, the Company's
management recently concluded that, upon further analysis of information
related to one of the Company's superfund sites, the related reserve was
understated as reflected in the financial results previously announced for the
fourth quarter of 2004.   The Company immediately informed and consulted with
its independent public accounting firm, Deloitte & Touche. The Company will
increase the reserve relating to the superfund site by approximately $4.4
million.  This increase in reserves would reduce the Company's earnings per
share for 2004 from the $3.14 per diluted share previously announced on
February 3, 2005 to $3.02 per diluted share.

The revision will not affect the Company's financial results for 2005 and the
Company affirms the guidance it previously provided for 2005 diluted earnings
per share of $3.25 to $3.45.

Martin R. Benante, Chairman and Chief Executive Officer of Curtiss-Wright
commented, "While we regret having to adjust our previously announced results
for 2004, we take comfort that our internal processes identified the adjustment
and are confident that this is an isolated incident.  We moved immediately to
address this matter and want to assure our investors that this does not affect
our 2004 business segment operating income as previously reported on February
3, 2005, which was and remains $39.0 million and $117.8 million for the quarter
and year ended December 31, 2004, respectively."

  Summary of Revised 2004 Financial Results:

            (in 000's)                               Q4               2004
  Sales                                        $281,104           $955,039
  Operating Income                              $34,361           $110,719
  Net Earnings                                  $20,413            $65,066
  Earnings per Diluted Share                      $0.94              $3.02

  About Curtiss-Wright


Curtiss-Wright Corporation is a diversified company headquartered in Roseland,
New Jersey.  The Company designs, manufactures and overhauls products for
motion control and flow control applications, and provides a variety of metal
treatment services.  The firm employs approximately 5,600 people worldwide. 
More information on Curtiss-Wright can be found on the Internet at
http://www.curtisswright.com/.

The statements in this release that are not historical facts are
forward-looking statements, including, but not limited to, Curtiss-Wright's
earnings guidance, and the information regarding the revision of
Curtiss-Wright's financial statements for the stated periods and the impact
thereof. Forward-looking statements in this release are made pursuant to the
Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995.
Such forward-looking statements are subject to certain risks and uncertainties.
Actual results could differ materially based on factors including, but not
limited to, the timing and nature of the final resolution of the accounting
matters discussed in this release. Until the revision and filing of
Curtiss-Wright's financial statements for fourth quarter and year ended 2004
has been completed, no assurance can be given with respect to the financial
statement adjustments, the impacts resulting from such adjustments or the
periods affected by such adjustments. Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as of the date
hereof. Other factors that may affect actual results include, but are not
limited to the following: a reduction in anticipated orders; an economic
downturn; changes in competitive marketplace and/or customer requirements; a
change in government spending; an inability to perform customer contracts at
anticipated cost levels; and other factors that generally affect the business
of aerospace, defense contracting, marine, electronics and industrial
companies. Please refer to the Company's current SEC filings under the
Securities and Exchange Act of 1934, as amended, for further information. 

DATASOURCE: Curtiss-Wright Corporation



CONTACT:  Alexandra M. Deignan of Curtiss-Wright Corporation,

[phone]



Web site:  http://www.curtisswright.com/ 

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