Moog Inc.'s third-quarter profits shot up by 84 percent as the Elma motion control equipment maker's aircraft business strengthened, pushing sales up by 21 percent.

The earnings beat analyst forecasts by a penny per share and Moog executives said they expect the improvement to continue into next year. They forecast that sales will rise by 7 percent during the fiscal year that starts in October, with profits increasing by 15 percent.

"Our recession is over," said Robert T. Brady, Moog's chairman and chief executive officer. "We're optimistic that 2011 will put us back on our growth trajectory."

Moog's profits improved to $29.2 million, or 64 cents per share during the quarter, up from $15.9 million, or 37 cents per share, a year ago, and better than the 63 cents per share that analysts were expecting.

The company's sales rose to $537 million during the quarter that ended in June, up from $445 million a year ago, as aircraft sales jumped by 18 percent, fueled largely by Moog's acquisition of General Electric's actuation business in Great Britain.

Moog's industrial business also strengthened, with sales jumping by 26 percent and operating profits returning to a more normal level of more than $12 million after being slightly better than break-even a year ago.

The company's components business also increased its earnings by 25 percent on a 6 percent rise in revenues. Moog's medical products business, which has struggled during the recession, continued to lose money, but managed to reduce its losses by more than 80 percent to $683,000 as sales rose by 29 percent.

"Sales are strong and continue to grow," Brady said today. "Our major aircraft development programs are moving into production. Space and defense and the components group are having a very strong year. Sales are improving in both industrial and medical."

Moog reaffirmed its earlier forecast that earnings this year would be around $107 million, or $2.35 per share, on sales of nearly $2.09 billion.

In the fiscal year that starts in October, Moog said it expects to earn $124 million, or $2.70 per share, on sales of $2.24 billion.

drobinson@buffnews.comnull