Business

April 26, 2012

Goodrich first quarter profit falls, plane parts sales rise

Goodrich Corp., which supplies components for aircraft makers, said April 26 that first-quarter profit fell 4 percent on higher taxes and costs for its sale to United Technologies Corp.

Sales of original equipment for large commercial aircraft rose 27 percent, which the company credited to increased airplane production by Boeing and Airbus. It said a weak January was followed by very strong sales in February and March.

Other divisions, including general aviation equipment, aftermarket sales, and defense had smaller sales gains.

Goodrich said net income was $188.2 million, or $1.46 per share, compared with $194.8 million, or $1.52 per share, a year earlier. It said results were hurt by an increase in effective tax rate to 32.1 percent from 24.4 percent, merger expenses, higher pension costs and restructuring costs.

The latest results included items for acquisition, restructuring, environmental-remediation and contract estimate changes totaling 10 cents per share. A year ago, the company enjoyed a tax benefit of 17 cents per share.

First-quarter revenue rose 14 percent to $2.15 billion from $1.90 billion.

Analysts, who usually exclude items from earnings forecasts, expected earnings of $1.66 per share on revenue of $2.12 billion, according to FactSet.

Shareholders have approved a deal to sell the company to United Technologies for $16.5 billion. The companies have said they expect to close the deal by midyear, if they win regulatory approval. AP

 




All of this week's top headlines to your email every Friday.


 
 

 

F-16V completes major capability milestone

The newest configuration of the F-16 Fighting Falcon, the F-16V, has reached a major capability milestone with the integration of a new Active Electronically Scanned Array radar. Completing this milestone on schedule demonstrates our ability to meet program commitments, said Roderick McLean, vice president and general manager of the F-16/F-22 Integrated Fighter Group at Lockheed...
 
 
Lockheed Martin photograph

Robots moving robots: Lockheed Martin conducts first fully autonomous mission

Lockheed Martin photograph A K-MAX unmanned helicopter delivers an SMSS unmanned ground vehicle during a fully autonomous mission demonstration at Fort Benning, Ga. A safety pilot was on board K-MAX but did not operate the cont...
 
 

Lockheed Martin introduces maritime test bed

Using a newly developed advanced maritime test bed, Lockheed Martin recently demonstrated how continually evolving technologies such as data fusion and predictive analytics can be used to share intelligence quickly and securely – even in limited bandwidth naval settings. This new software test platform, designed to mimic different naval environments at sea and ashore, allowed...
 

 

Aerojet Rocketdyne awarded defense contract for large scale additive manufacturing

Aerojet Rocketdyne was recently awarded a contract by Wright-Patterson Air Force Base, Ohio, through the Defense Production Act Title III Office for large-scale additive manufacturing development and demonstration. The contract will secure multiple large selective laser melting machines to develop liquid rocket engine applications for national security space launch services. Aerojet Rocketdyne ...
 
 

U.S. Navy to test, evaluate Lockheed Martin industrial exoskeletons

Lockheed Martin has received a contract through the National Center for Manufacturing Sciences for the U.S. Navy to evaluate and test two FORTIS exoskeletons. This marks the first procurement of Lockheed Martin’s exoskeletons for industrial use. Terms of the contract were not disclosed. The FORTIS exoskeleton is an unpowered, lightweight exoskeleton that increases an operator’s...
 
 
Northrop Grumman photograph by Alan Radecki

Northrop Grumman, Navy integrate manned, unmanned flight ops

https://www.youtube.com/watch?v=RqiOzO8yV4A&feature=youtu.be Northrop Grumman photograph by Alan Radecki The U.S. Navy’s unmanned X-47B conducts flight operations aboard the aircraft carrier USS Theodore Roosevelt (C...
 




0 Comments


Be the first to comment!


Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>