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.


 
 

 

Headlines September 17, 2014

News: Pentagon open to U.S. ground troops in fight against Islamic State - The Pentagon’s top general opened the door Sept. 16 to the possibility that U.S. combat troops would be needed in Iraq, as he publicly laid out President Obama’s still-developing plans to combat Islamic State insurgents through U.S. air power and relying on an...
 
 

News Briefs September 17, 2014

U.S. to assign 3,000 troops to fight Ebola The Obama administration is preparing to assign 3,000 U.S. military personnel to West Africa to combat the Ebola outbreak that has overwhelmed local health care systems and drawn appeals for help from the region and aid organizations. The troops will supply medical and logistical support and boost...
 
 
Navy photograph

Future USNS Fall River delivered

Navy photograph The joint high speed vessel USNS Fall River (JHSV 4) completes acceptance trials testing and evaluations in the Gulf of Mexico. The ship’s trials included dockside testing to clear the ship for sea and at-...
 

 
University of Alaska-Fairbanks photograph by Chris Larsen

NASA airborne campaigns focus on climate impacts in Arctic

University of Alaska-Fairbanks photograph by Chris Larsen Changes in more than 130 Alaskan glaciers are being surveyed by scientists at the University of Alaska-Fairbanks in a DHC-3 Otter as part of NASA’s multi-year Oper...
 
 
Air Force photograph by Michael J. Pausic

Future of NATO: Adapting to a new security environment

Air Force photograph by Michael J. Pausic Gen. Phillip Breedlove informs the assembled crowd about the results of the recent NATO Summit and the areas of instability that affect Europe that have regional implications. Seated in...
 
 
Image courtesy of NASA/CXC/M. Weiss

NASA’s Chandra X-ray Observatory finds planet that makes star act deceptively old

Image courtesy of NASA/CXC/M. Weiss A new study from NASA’s Chandra X-ray Observatory shows that a giant exoplanet, WASP-18b, is making the star that it orbits very closely act much older than it actually is. This artist&...
 




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>