A new Goodrich 2001 will be remembered as one of the most challenging years in the history of commercial aviation. Under extraordinary circumstances, Goodrich had strong financial performance because of our business mix and the underlying strengths that have made us a global industry leader. 2001 was also a defining year for the company as we completed the sale of our Performance Materials segment and announced the spin-off of our Engineered Industrial Products segment to continue our transition into a top-tier aerospace supplier. To cap more than a decade of successful transformation, we also launched our new corporate identity as Goodrich Corporation.

This thoughtful and deliberate transition created a new Goodrich distinguished by key characteristics that you will read about throughout this report – strong financial performance, global leadership, a balanced business mix, value-creating processes and innovative solutions for aerospace and beyond. These are the hallmarks of today’s Goodrich – a company positioned more solidly than ever to deliver consistent value to our customers and shareholders.

Strong financial performance Our ability to deliver value starts with our financial results. In 2001, our aerospace businesses delivered record revenues and double-digit earnings per share growth, before special items. These accomplishments are all the more remarkable in light of the sluggishness in commercial aviation that was developing even before the deep and immediate impact of the tragic events of September 11. Before special items and on a continuing operations basis, which excludes the Engineered Industrial Products (EIP) segment, income was $306 million compared to $266 million last year, and earnings per share rose 18 percent to $2.87 compared to $2.43 in 2000. Sales rose substantially to $4.2 billion for the year – a 13 percent increase due to greater demand for core products and services as well as contributions from recent acquisitions.