Exhibit 99.1

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Page 2 of 4 Esterline Reports First Quarter 2010

Lawrence said Esterline’s Sensors & Systems and Advanced Materials segments continue to be affected by sluggish commercial air transport and business jet activity, but he said, “…we are beginning to see signs of aftermarket improvement as global commercial airline capacity improves.” He also said that the company’s cost reduction measures taken over the last several quarters will lead to enhanced profitability going forward.

As the company’s December guidance to investors anticipated, gross margins in the first quarter were impacted by the mix of products shipped during the period. Lawrence said, “…we expect margin performance to improve steadily as the year progresses.” Gross margin was 30.8% compared with 33.0% last year.

Selling, general and administrative expenses as a percent of sales were 18.4% in the first quarter of 2010, compared with 19.3% a year ago.

Research, development and engineering (R&D) expenses continued to ratchet down from the mid-2008 peak of 7.0%. R&D spending in the first quarter of 2010 was $17.0 million, or 5.0% of sales, compared with $17.4 million, or 5.6% of sales a year ago. Lawrence said, “The programs we invested in over the last several years are beginning to pay off.” He said, “T-6B production is ramping up rapidly for the U.S. Navy trainer program, and foreign military sales of this aircraft are accelerating.” He said Esterline recently received an initial order from Hawker Beechcraft to supply the integrated avionics suite for twenty-four T-6C trainer aircraft for the Royal Moroccan Air Force.

Lawrence added, “Our investments in the development of open architecture integrated glass cockpits are creating opportunities in retrofit markets.” During the quarter, the Chilean Air Force selected Esterline to upgrade the complete cockpit avionics systems of its C-130 fleet. As prime contractor, Esterline’s Canada-based CMC Electronics subsidiary is responsible for delivery of the complete equipment suite, including the supply of turnkey installation kits as well as all in-country activities, including touch labor, training and support.

The income tax rate for the first quarter of 2010 was 27.2% compared with 15.8% last year. The increase primarily reflects a change in French tax law, the expiration of U.S. R&D credits and changes in the U.S.-Canada tax treaty. In addition, the prior-year period reflected a tax benefit associated with a foreign currency loss.

New orders for the first quarter of 2010 were $342.8 million compared with $370.2 million for the same period in 2009. Orders in the 2009 period included acquired backlog of $65.2 million. Backlog was $1.1 billion compared with $1.2 billion at the end of the prior-year period and $1.1 billion at the end of fiscal 2009.

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 3 of 4 Esterline Reports First Quarter 2010

ESTERLINE TECHNOLOGIES CORPORATION

Consolidated Statement of Operations (unaudited)

In thousands, except per share amounts

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Page 4 of 4 Esterline Reports First Quarter 2010

Consolidated Balance Sheet (unaudited)

In thousands