Business

April 30, 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 19, 2014

News: McKeon on broader military authorization: Anything can ‘fail or pass’ - Rep. Howard “Buck” McKeon, R-Calif., chairman of the House Armed Services Committee, said if Congress returns after the midterm elections to weigh a broader military authorization for the battle against Islamic State, it might not pass. Defense contractor gets 7 years for giving secrets...
 
 

News Briefs September 19, 2014

U.S. military deaths in Afghanistan at 2,203 As of Sept. 16, 2014, at least 2,203 members of the U.S. military had died in Afghanistan as a result of the U.S.-led invasion of Afghanistan in late 2001, according to an Associated Press count. At least 1,823 military service members have died in Afghanistan as a result...
 
 

Pratt & Whitney, U.S. Air Force complete qualification for F135 engine testing

Pratt & Whitney, a United Technologies Corp. , together with its U.S. Air Force partner at the F135 Heavy Maintenance Center at Tinker Air Force Base, Okla., celebrated another significant milestone qualification for F135 engine testing at the Oklahoma City Air Logistics Complex. OC-ALC which in addition to engine testing is also qualified to perform...
 

 
Navy photograph

Triton has first cross-country flight from Palmdale

Northrop Grumman photograph The MQ-4C Triton Unmanned Aircraft System takes off from Northrop Grummanís Palmdale, Calif., facility Sept. 17 for its first cross-country flight to Naval Air Station Patuxent, River, Md. PALMDALE,...
 
 
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...
 
 
Air Force photograph by Scott M. Ash

AFRL commander describes Air Force’s technology vision

Air Force photograph by Scott M. Ash Maj. Gen. Thomas Masiello takes a question from an audience member after discussing Air Force Research Laboratory breakthrough technologies during the 2014 Air Force Association’s Air ...
 




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>