Business

July 24, 2012

Rockwell Collins third quarter profit rises 5.1 percent

Rockwell Collins’ third-quarter net income rose 5 percent, but fell just short of Wall Street expectations after one of its big customers sought bankruptcy protection.

For the quarter ended June 30, the aviation and communications company earned $166 million, or $1.14 per share, up from $158 million, or $1.01 per share, in the same quarter last year.

The recent quarter’s results are based on about 145 million outstanding shares, while those of the year-ago period are based on about 155.9 million.

Sales edged up about a percent to $1.21 billion from $1.19 billion, as government systems sales rose 2 percent to $679 million and commercial systems sales edged up 1 percent to $526 million.

Analysts, on average, expected a profit of $1.15 per share on $1.23 billion in revenue, according to a FactSet poll.

Rockwell, based in Cedar Rapids, Iowa, said that a lower income tax rate boosted its results by 5 cents per share, while the effects of the recent bankruptcy protection filing at Hawker Beechcraft, a key customer, reduced its profit by 6 cents per share.

The company warned that the slowdown in the global economy’s recovery and Hawker Beechcraft’s situation continue to affect its expectations for business aviation growth.

As a result, the company lowered the high end of its previous 2012 profit prediction by 10 cents, resulting in a new range of $4.40 to $4.50 per share. The company also cut its full-year sales prediction to about $4.8 billion from about $4.85 billion.

Analysts polled by FactSet expect a profit of $4.41 per share on $4.84 billion in sales. AP




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


 
 

 

Headlines May 1, 2015

Business: Airbus says it will file criminal complaint over U.S. spy claims - European aviation and aeronautics giant Airbus said April 30 it would file a criminal complaint against persons unknown following German media reports it had become a target of U.S. industrial espionage. Finmeccanica outlines way ahead in U.K. market - Details have emerged about how...
 
 

News Briefs May 1, 2015

U.S. commander says NATO to step up its intelligence-sharing The top U.S. commander for NATO says the alliance will begin to improve intelligence-sharing with members and cooperation about the movement of foreign fighters from Iraq and Syria to the U.S. and other Western countries. Air Force Gen. Philip Breedlove says individual nations have been sharing...
 
 
Photograph by Linda KC Reynolds

A Million Makes a Difference

Presidential Lifetime Achievement Awards were presented to Lockheed Martin employees Richard Heinstedt and Jerry Dougherty, for serving more than 4,000 hours since 2003. Sherry Imil (center) received an honorable mention for vo...
 

 
Home-for-Good-logo

Coalition comes together to house area’s homeless vets

A coalition of Antelope Valley social service and community organizations has banded together with the ambitious goal of housing the area’s homeless veteran population by December 2015. The initiative, dubbed Home for Good, h...
 
 

Airbus profit up on Dassault sale but orders down

European planemaker Airbus says it has seen its profit jump in the first quarter thanks to the sale of a stake in rival Dassault Aviation, though its plane orders and deliveries fell slightly. Airbus reported net profit of 792 million euros ($871 million) in the first quarter, compared with 439 million euros a year earlier....
 
 
Air Force photograph by SSgt. DeNoris A. Mickle

‘Sentient data’ may one day augment Soldier capability

Air Force photograph by SSgt. DeNoris A. Mickle Air Force photograph by SSgt. DeNoris A. Mickle “Sentient data,” or information that can feel and perceive things, might one day protect Soldiers and their networks, s...
 




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>