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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
________________________________

For the quarterly period ended January 31, 2003                                                              

OR

For the transition period from _____________________ to ________________________

Commission file number 1-6357

ESTERLINE TECHNOLOGIES CORPORATION
(Exact name of registrant as specified in its charter)

10800 NE 8th Street, Bellevue, Washington 98004
(Address of principal executive offices)(Zip Code)

Registrant's telephone number, including area code 425/453-9400

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes          X        No                 

Indicate by check mark whether the registrant is an accelerated filer (as defined in Rule 12b-2 of the Exchange Act).

Yes          X        No                 

As of March 14, 2003, 20,826,585 shares of the issuer's common stock were outstanding.

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ESTERLINE TECHNOLOGIES CORPORATION
CONSOLIDATED BALANCE SHEET
As of January 31, 2003 and October 25, 2002
(In thousands, except share amounts)

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ESTERLINE TECHNOLOGIES CORPORATION
CONSOLIDATED BALANCE SHEET
As of January 31, 2003 and October 25, 2002
(In thousands, except share amounts)

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ESTERLINE TECHNOLOGIES CORPORATION
CONSOLIDATED STATEMENT OF OPERATIONS
For the Three Months Ended January 31, 2003 and January 25, 2002
(Unaudited)
(In thousands, except per share amounts)

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ESTERLINE TECHNOLOGIES CORPORATION
CONSOLIDATED STATEMENT OF CASH FLOWS
For the Three Months Ended January 31, 2003 and January 25, 2002
(Unaudited)
(In thousands)

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ESTERLINE TECHNOLOGIES CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
For the Three Months Ended January 31, 2003 and January 25, 2002

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We view and operate our businesses in three segments: Avionics & Controls, Sensors & Systems and Advanced Materials. We discontinued a fourth segment, Automation, in the third quarter of fiscal 2002. We serve primarily aerospace and defense customers with manufactured products such as high-end technology interface systems for commercial and military aircraft, and similar devices for land- and sea-based military vehicles; secure communication systems, specialized medical equipment and other industrial applications; sensors and other components for propulsion and guidance systems; and high-performance elastomers and other complex materials. We are concentrating our efforts to selectively expand our capabilities in markets for these products.

As part of our long-term strategic direction, we strive to anticipate the needs of our customers and to respond to such needs with comprehensive solutions worldwide. This effort focuses on continual research and new product development, acquisitions, and establishing strategic realignments of operations to expand the capability to offer a more extensive product line to each customer through a single contact. In the first quarter of fiscal 2003, we completed one acquisition in our Sensors & Systems segment for $11.3 million.

On July 25, 2002, our Board of Directors adopted a formal plan for the sale of the assets and operations of our Automation segment. As a result, the consolidated financial statements present the Automation segment as a discontinued operation.

Sales for the first fiscal quarter increased 30.5% when compared with the prior year period. Sales by segment were as follows:

The 23.9% increase in Avionics & Controls reflected improved sales volumes of cockpit switches to the airline aftermarket and strong sales to military OEMs. Sales performance was

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further enhanced by increased sales of input devices to industrial/commercial markets, as well as the acquisition of Janco and a small product line in the third and fourth quarter of fiscal 2002, respectively. These acquisitions contributed incremental sales of $3.4 million in the first quarter of fiscal 2003. Order volume was flat compared to the fourth quarter of fiscal 2002 and up 27.0% over the comparable prior year quarter, reflecting fiscal 2002 acquisitions and the aftermath of September 11, 2001, which impacted the first quarter of fiscal 2002.

The 19.6% increase in sales of Sensors & Systems principally reflected a stronger Euro relative to the U.S. dollar, as the average exchange rate from the Euro to the U.S. dollar increased from .88 in fiscal 2002 to 1.02 in fiscal 2003. In addition, the increase in Sensors & Systems sales was partially offset by a decline in commercial jet engine temperature sensor sales. Order volume increased 5.5% compared to the fourth quarter of fiscal 2002 and is up 67.7% over the comparable prior year quarter, reflecting a stronger Euro relative to the U.S. dollar.

The 44.6% increase in Advanced Materials reflected $21.2 million in incremental sales from the acquisition of Burke Industries' Engineered Polymers Group in the third quarter of fiscal 2002 and the acquisition of the Electronic Warfare Passive Expendables Division of BAE SYSTEMS North America in the fourth quarter of fiscal 2002. These sales gains were partially offset by declines in advanced materials sales to aerospace and defense customers and the timing of deliveries of combustible ordnance components.

Overall, gross margin as a percentage of sales was 30.6% for the first quarter of fiscal 2003 compared with 33.5% for the first quarter of fiscal 2002. Segment gross margins ranged from 25.2% to 36.2% for the first fiscal quarter of 2003 compared with 30.6% to 41.2% during the same period in fiscal 2002. Avionics & Controls gross margin increased from the prior year period due to solid sales to military OEMs, strengthening sales of input devices to industrial/commercial customers, and improved sales of aftermarket spares. Sensors & Systems gross margin declined from the prior year period due to lower sales of temperature sensors and the effect of a weaker U.S. dollar compared to the Euro on U.S. dollar-denominated sales and Euro-denominated cost of sales. Advanced Materials gross margin declined when compared with the prior year period, reflecting lower gross margin on sales of the recently acquired companies, lower prices for certain combustible ordnance components, and decreased sales volume/mix of elastomer material to aerospace and defense customers. The prior year period's elastomer material sales were higher than normal and reflected the expected physical move of an elastomer product line and incremental sales to a customer to re-balance its inventory levels.

Selling, general and administrative expenses (which include corporate expenses) totaled $24.4 million and $18.3 million for the first fiscal quarter of 2003 and 2002, respectively, or 19.3% of sales for the first fiscal quarter of 2003 compared with 18.9% for the prior year period. The increase in selling, general and administrative expenses primarily reflected increased amortization of intangible assets, incremental selling, general and administrative expenses due to fiscal 2002 and 2003 acquisitions, and increased pension and medical expenses.

Research, development and engineering spending was $4.2 million, or 3.3% of sales, for the first fiscal quarter of 2003 compared with $3.0 million, or 3.1% of sales, for the first fiscal quarter of

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2002. This is consistent with our philosophy of continually investing in new products and capabilities regardless of the business cycle.

Segment earnings (operating earnings excluding corporate expenses) for the first fiscal quarter of 2003 totaled $13.2 million, compared with $13.9 million for the first fiscal quarter in 2002. Avionics & Controls earnings were $6.4 million for the first fiscal quarter of 2003 compared with $5.9 million for the first fiscal quarter of 2002, reflecting increased sales of aftermarket spares and switches to military OEMs. Sensors & Systems earnings were $1.2 million for the first quarter of fiscal 2003 compared with $2.8 million for the first quarter of fiscal 2002 and primarily reflected the decline in temperature sensors sales, increased research & development and selling expenses, and the impact of the weaker U.S. dollar relative to the Euro on U.S. dollar-denominated sales and Euro-denominated operating expenses. Advanced Materials earnings were $5.7 million for the first fiscal quarter of 2003 compared with $5.6 million for the first fisc al quarter of 2002. Advanced Materials earnings were partially offset by integration expenses and lower margin product sales. Successful efforts in lean manufacturing across all segments helped to partially offset unfavorable sales mix and pricing pressures on segment earnings.

The effective income tax rate for the first fiscal quarter of 2003 was 30.7% compared with 33.1% for the first fiscal quarter of 2002. The effective tax rate differed from the statutory rate, as both years benefited from various tax credits.

New orders for the first fiscal quarter of 2003 were $122.0 million compared with $105.4 million for the same period in 2002, an increase of 15.7%. Backlog at January 31, 2003 was $277.4 million compared with $230.1 million at the end of the prior year period and $281.7 million at October 25, 2002. The increase in backlog compared to January 25, 2002, primarily reflected the effect of a stronger Euro relative to the U.S. dollar in the Sensors & Systems segment, as well as fiscal 2002 and 2003 acquisitions. The decline in backlog compared to October 25, 2002, principally reflected the timing of receiving orders in the Advanced Materials segment.

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Cash and cash equivalents on hand at January 31, 2003 totaled $28.3 million, an increase of $5.8 million from October 25, 2002. Net working capital decreased to $93.7 million at January 31, 2003 from $121.2 million at October 25, 2002, largely due to the classification of $30.0 million of the 1999 Senior Notes due in November 2003 as a current liability.

Capital expenditures, consisting of machinery, equipment and computers, are anticipated to be approximately $17.5 million during fiscal 2003, compared with $15.1 million expended in fiscal 2002. Capital expenditures for the first fiscal quarter of 2003 totaled $3.7 million, primarily for machinery and equipment, including enhancements to information systems.

Total debt at January 31, 2003 was $117.2 million and consisted of $100.0 million under our 1999 Senior Notes, $10.0 million under a line of credit facility and $7.2 million under various foreign currency debt agreements, including capital lease obligations. The 1999 Senior Notes have maturities ranging from 2003 to 2008 and interest rates from 6% to 6.77%. We believe cash on hand and funds generated from operations are adequate to service operating cash requirements and capital expenditures through 2003. In addition, we believe that we have adequate access to capital markets to fund future acquisitions.

This quarterly report on Form 10-Q contains forward-looking statements. 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 statements are only predictions and involve known and unknown risks, uncertainties and other factors, including the risk factors set forth in "Forward Looking Statements and Risk Factors" in our Annual Report on Form 10-K for the fiscal year ended October 25, 2002, that may cause our or the industry's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. You should not place undue reliance on these forward-looking st atements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, performance or achievements.

a)  Evaluation of Disclosure Controls and Procedures

Within the 90 days prior to the date of this report, we carried out an evaluation, under the supervision and with the participation of our management, of the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Rules 13a-14(c) and 15d-14(c) under the Exchange Act). Based upon that evaluation, our Chairman, President and Chief

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Executive Officer and our Vice President and Chief Financial Officer concluded that our disclosure controls and procedures were effective to ensure that information we are required to disclose in the reports that we file under the Exchange Act is recorded, processed, summarized and reported within time periods specified in Securities and Exchange Commission rules and forms.

b)  Changes in Internal Controls

There were no significant changes in our internal controls or in other factors that could significantly affect our disclosure controls and procedures subsequent to the date of the evaluation. There were no significant deficiencies or material weaknesses, and therefore, there were no corrective actions taken.

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From time to time we are involved in legal proceedings arising in the ordinary course of business. We believe that adequate reserves for these liabilities have been made and that there is no litigation pending that could have a material adverse effect on our results of operations and financial condition.

At our annual meeting of shareholders held on March 5, 2003, the shareholders acted on the following proposals:

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Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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I, Robert W. Cremin, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Esterline Technologies Corporation;

2. Based on my knowledge, this quarterly report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this quarterly report; and

3. Based on my knowledge, the financial statements, and other financial information included in this quarterly report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this quarterly report.

4. The registrant's other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-14 and 15d-14) for the registrant and we have:

5. The registrant's other certifying officers and I have disclosed, based on our most recent evaluation, to the registrant's auditors and the audit committee of registrant's board of directors (or persons performing the equivalent function):

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6. The registrant's other certifying officers and I have indicated in this quarterly report whether or not there were significant changes in internal controls or in other factors that could significantly affect internal controls subsequent to the date of our most recent evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses.

I, Robert D. George, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Esterline Technologies Corporation;

2. Based on my knowledge, this quarterly report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this quarterly report; and

3. Based on my knowledge, the financial statements, and other financial information included in this quarterly report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this quarterly report.

4. The registrant's other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-14 and 15d-14) for the registrant and we have:

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5. The registrant's other certifying officers and I have disclosed, based on our most recent evaluation, to the registrant's auditors and the audit committee of registrant's board of directors (or persons performing the equivalent function):

6. The registrant's other certifying officers and I have indicated in this quarterly report whether or not there were significant changes in internal controls or in other factors that could significantly affect internal controls subsequent to the date of our most recent evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses.

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