(INTRODUCTION FOR CONFERENCE CALL)
Before we begin, we call your attention to the fact that we may make forward-looking statements during the course of this conference call. These forward-looking statements are not guarantees of our future performance and are subject to risks, uncertainties and other factors that could cause actual performance to differ materially from such statements. A description of these risks, uncertainties and other factors is contained in our news release of today’s date, our Form 10Q for the quarter ended December 27, 2003, and in certain of our other public filings with the SEC.

Bob Brady, Chairman and CEO:

Good morning. Thanks for joining us. This morning we’re reporting results for the second quarter of fiscal ’04. We’ll discuss the major happenings in the quarter and we’ll refine our guidance for the balance of the year.

But, before we do the quarterly report, there is one happening that I’d like to describe.

On March 31st in Seattle, the Boeing Corporation honored one company in each of thirteen categories as their “Supplier of the Year” for the entire Boeing Corporation. Moog was one of the recipients of this award.

Over the years, we’ve received awards from many different customers. On two prior occasions, we’ve been a Supplier of the Year at the Boeing Commercial Airplane Company. We’re always proud and happy to be recognized in this fashion. But this award is a source of particular satisfaction for a variety of reasons. I’ll mention three:

#Boeing is a very large customer. Our revenues with Boeing are well over $100 million a year, and we supply many different products to many different Boeing operations. There are lots of opportunities to show how good a job we can do. There are also lots of opportunities to screw up.
#Boeing has become an extremely demanding customer. On their production programs, they require delivery and quality performance that’s nearly perfect. On development programs, they have no patience for performance problems and delivery slips. They have a Supplier Evaluation scheme that can communicate any problem or shortfall to the entire Boeing organization. There are no secrets.
#In every product area, we have one or more competitors who are “world class”. Our selection as the “winner” in this crowd is no small accomplishment.

For all these reasons, I’m delighted to report on this award. It is a real compliment to all the folks in our Company and a testament to our stature in the aerospace industry.

Now, back to the quarter.