Diluted earnings per share increased to $2.01 from $1.89.
The Fort Collins-based company posted a fourth-quarter profit of $46.1 million, up 11 percent from the same period last year. That translated to 66 cents diluted earnings per share, up from 60 cents.
For the year, Woodward reported net sales of $1.87 billion vs. $1.71 billion the prior year. Fourth-quarter sales rose to $528.7 million from $489.3 million the year before.
“Fourth-quarter profitability improved as we recovered from the impacts of the unusual operational issues experienced in the third quarter,” CEO Tom Gendron said.
Net sales in Woodward’s aerospace segment increased 9 percent to $264 million during the fourth quarter. In the energy segment, fourth-quarter net sales rose to $264.7 million, an increase of 7 percent.
Woodward, headquartered in Fort Collins, makes control systems technology for the energy and aerospace industries.
Woodward shares Tuesday rose half a percentage point to close at $32.07.