Exhibit 99.1

FOR IMMEDIATE RELEASE
Contact:	Brian D. Keogh
	(425) 453-9400

ESTERLINE ANNOUNCES 2Q NET EARNINGS OF $45.2 MILLION,

OR $1.44 PER SHARE, ON $504.8 MILLION SALES

Highlights:

• Discrete items add $0.15 per share (see Table 1)

• FY12 guidance adjusted to reflect timing

• Updated full-year guidance: $5.10 to $5.25

• Orders solid; backlog growing

• Souriau acquisition tracking to plan

• Commercial aerospace markets strengthening; defense markets stronger than expected

BELLEVUE, Wash., May 31, 2012 – Esterline Corporation (NYSE: ESL) (www.esterline.com), a leading specialty manufacturer serving the global aerospace/defense markets, today reported fiscal 2012 second quarter (ended April 27) net income of $45.2 million, or $1.44 per diluted share. Sales in the quarter were $504.8 million. For the quarter, the company noted that results include the discrete items described in Table 1 below. These items total $0.15 per share, net of tax. Year-ago net income was $45.9 million, or $1.47 per diluted share, including a $5.5 million settlement related to 787 program scope changes. Sales in the year-ago quarter were $435.3 million.

Table 1: Effects of Discrete Items on 2nd Quarter 2012 EPS

(Estimated tax rate 20%, 31.3 million shares)

Earnings Per Share	$	1.44
Litigation Settlement		0.30
Customer Bankruptcy		(0.07	)
Contract Assertions		(0.08	)
Total Discrete Items	$	0.15

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Page 2 of 6 Esterline Reports Fiscal 2012 Second Quarter Results

Brad Lawrence, Esterline’s Chief Executive Officer, said that excluding the discrete items, Esterline’s second quarter “…came in right about where we thought it would. We had solid performance by our Sensors & Systems and Advanced Materials segments, offset by anticipated timing issues in our Avionics & Controls segment. We’re still expecting a strong finish to the year, weighted heavily to the fourth quarter.” Lawrence noted that steadily growing commercial aircraft build rates will benefit the company as it moves into next fiscal year. “Our order book is growing and our backlog is solid,” he said.

Lawrence noted that Souriau, Esterline’s France-based connector company acquired in July 2011, is performing well, reflecting strong demand across its product lines and markets, including heavy industrial, oil and gas, and nuclear. He said the integration is going well. “I can say with confidence that the combination of Souriau and Esterline has strengthened relationships with both Airbus and Boeing. Given the early stage of the commercial build cycle, we believe the timing for growing these relationships is very good.” He added that Esterline’s “…strong cash flow has enabled us to pay down $115 million of debt in the nine months since the acquisition.”

Lawrence said that although the company’s defense-related businesses will not perform to last year’s levels, “…we are seeing some unexpected pockets of strength. Our U.S. countermeasure business is looking to have a solid year, and we’re seeing strong sales of embedded communication intercept receivers for signal intelligence applications.”

He called the company’s updated full-year guidance of $5.10 to $5.25 “…realistic given how the timing of key shipments—including foreign countermeasures, military headsets, and avionics programs—remains difficult to call.”

One of these timing issues relates to the Hawker Beechcraft bankruptcy. Lawrence emphasized that there remains significant demand for Hawker’s T-6B trainer aircraft with its Esterline glass cockpit. He said, “…we’re encouraged to have received preferred supplier status during what appears to be an orderly reorganization.” He noted, however, that the process is in the hands of the courts and “…until we have better visibility, it’s only prudent to be cautious regarding our shorter term outlook.”

Lawrence said that the company’s 36.6% gross margin performance in the quarter was especially encouraging given the slowdown in the Avionics & Controls segment. Gross margin as a percent of sales in last year’s second quarter was 37.0% and included exceptionally strong spare

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Page 3 of 6 Esterline Reports Fiscal 2012 Second Quarter Results

parts and retrofit program sales, and the retroactive price settlement related to the 787 program mentioned above. Selling, general and administrative (SG&A) expenses as a percent of sales were 19.6% in the second quarter of 2012, compared with 16.6% a year ago. Lawrence said that, similar to last quarter, the increase was anticipated and “…also is primarily a result of our Avionics segment’s performance.” The increase in research, development and engineering (R&D) expenses in the quarter to 5.9% of sales from 4.9% last year primarily reflects investments in new avionics programs. The income tax rate for the second quarter of 2012 was 19.7% compared with 20.5% last year. Lawrence pointed to the company’s strong cash flow and reiterated his commitment to de-levering the balance sheet to the historic levels achieved prior to the Souriau acquisition.

New orders for the second quarter of 2012 were $566.0 million compared with $462.9 million for the same period last year. Backlog was $1.31 billion compared with $1.16 billion at the end of the prior-year period.

Conference Call Information

Esterline will host a conference call to discuss this announcement today at 5:00 p.m. Eastern Time (2:00 p.m. Pacific Time). The U.S. dial-in number is 866-202-0886; outside the U.S., use 617-213-8841. The pass code for the call is: 71749026.

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “potential,” “predict,” “should” or “will,” or the negative of such terms, or other comparable terminology. These forward-looking statements are only predictions based on the current intent and expectations of the management of Esterline, are not guarantees of future performance or actions, and involve risks and uncertainties that are difficult to predict and may cause Esterline’s or its industry’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Esterline’s actual results and the timing and outcome of events may differ materially from those expressed in or implied by the forward-looking statements due to risks detailed in Esterline’s public filings with the Securities and Exchange Commission including its most recent Annual Report on Form 10-K.

Page 4 of 6 Esterline Reports Fiscal 2012 Second Quarter Results

ESTERLINE TECHNOLOGIES CORPORATION

Consolidated Statement of Operations (unaudited)

In thousands, except per share amounts

	Three Months Ended						Six Months Ended
	Apr 27, 2012			Apr 29, 2011			Apr 27, 2012			Apr 29, 2011
Segment Sales
Avionics & Controls	$	195,025		$	231,532		$	374,597		$	423,999
Sensors & Systems		184,683			85,181			356,355			162,236
Advanced Materials		125,123			118,564			244,761			219,841
Net Sales		504,831			435,277			975,713			806,076
Cost of Sales		320,308			274,330			633,109			513,007
		184,523			160,947			342,604			293,069
Expenses
Selling, general and administrative		98,950			72,409			193,647			138,501
Research, development and engineering		29,545			21,251			55,940			40,870
Gain on settlement of contingency		(11,891	)		—			(11,891	)		—
Total Expenses		116,604			93,660			237,696			179,371
Operating Earnings From Continuing Operations		67,919			67,287			104,908			113,698
Interest income		(116	)		(430	)		(211	)		(770	)
Interest expense		11,484			8,958			23,012			18,095
Loss on extinguishment of debt		—			831			—			831
Income From Continuing Operations Before Income Taxes		56,551			57,928			82,107			95,542
Income Tax Expense		11,138			11,848			13,714			19,502
Income From Continuing Operations Including Noncontrolling Interests		45,413			46,080			68,393			76,040
Income Attributable to Noncontrolling Interests		(222	)		(129	)		(414	)		(106	)
Income From Continuing Operations		45,191			45,951			67,979			75,934
Loss From Discontinued Operations, Net of Tax		—			(37	)		—			(29	)
Net Earnings	$	45,191		$	45,914		$	67,979		$	75,905
Earnings Per Share – Basic:
Continuing Operations	$	1.47		$	1.51		$	2.22		$	2.50
Discontinued Operations		.00			.00			.00			.00
Earnings Per Share – Basic	$	1.47		$	1.51		$	2.22		$	2.50
Earnings Per Share – Diluted:
Continuing Operations	$	1.44		$	1.47		$	2.18		$	2.44
Discontinued Operations		.00			.00			.00			.00
Earnings Per Share – Diluted	$	1.44		$	1.47		$	2.18		$	2.44
Weighted Average Number of Shares Outstanding – Basic		30,669			30,496			30,650			30,422
Weighted Average Number of Shares Outstanding – Diluted		31,319			31,160			31,238			31,086

Page 5 of 6 Esterline Reports Fiscal 2012 Second Quarter Results

ESTERLINE TECHNOLOGIES CORPORATION

Consolidated Sales and Income from Continuing Operations by Segment (unaudited)

In thousands

	Three Months Ended						Six Months Ended
	Apr 27, 2012			Apr 29, 2011			Apr 27, 2012			Apr 29, 2011
Segment Sales
Avionics & Controls	$	195,025		$	231,532		$	374,597		$	423,999
Sensors & Systems		184,683			85,181			356,355			162,236
Advanced Materials		125,123			118,564			244,761			219,841
Net Sales	$	504,831		$	435,277		$	975,713		$	806,076
Income From Continuing Operations
Avionics & Controls	$	18,251		$	44,915		$	38,314		$	75,919
Sensors & Systems		24,710			11,595			31,525			22,566
Advanced Materials		26,160			22,979			49,233			38,247
		69,121			79,489			119,072			136,732
Corporate expense		(13,093	)		(12,202	)		(26,055	)		(23,034	)
Gain on settlement of contingency		11,891			—			11,891			—
Interest income		116			430			211			770
Interest expense		(11,484	)		(8,958	)		(23,012	)		(18,095	)
Loss on extinguishment of debt		—			(831	)		—			(831	)
Income From Continuing Operations
Before Income Taxes	$	56,551		$	57,928		$	82,107		$	95,542

Page 6 of 6 Esterline Reports Fiscal 2012 Second Quarter Results

ESTERLINE TECHNOLOGIES CORPORATION

Consolidated Balance Sheet (unaudited)

In thousands

	Apr 27, 2012		Apr 29, 2011
Assets
Current Assets
Cash and cash equivalents	$	191,095	$	391,514
Cash in escrow		5,012		5,000
Accounts receivable, net		361,304		308,103
Inventories		413,855		315,994
Income tax refundable		6,226		12,067
Deferred income tax benefits		49,199		38,232
Prepaid expenses		25,065		18,369
Other current assets		5,128		18,673
Total Current Assets		1,056,884		1,107,952
Property, Plant and Equipment, Net		363,557		287,942
Other Non-Current Assets
Goodwill		1,141,347		835,167
Intangibles, net		652,457		456,648
Debt issuance costs, net		9,757		9,759
Deferred income tax benefits		83,381		95,048
Other assets		20,175		22,404
	$	3,327,558	$	2,814,920
Liabilities and Shareholders’ Equity
Current Liabilities
Accounts payable	$	114,386	$	84,660
Accrued liabilities		259,168		233,727
Credit facilities		—		110,000
Current maturities of long-term debt		13,139		1,782
Deferred income tax liabilities		5,095		10,477
Federal and foreign income taxes		11,829		2,451
Total Current Liabilities		403,617		443,097
Long-Term Liabilities
Credit facilities		300,000		—
Long-term debt, net of current maturities		660,935		495,719
Deferred income tax liabilities		228,603		153,660
Pension and post-retirement obligations		103,054		109,251
Other liabilities		13,809		27,568
Total Shareholders’ Equity		1,617,540		1,585,625
	$	3,327,558	$	2,814,920