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 July 31, 2015

News: Carter: Military leaders could arm more troops at home – Following the recent fatal shooting of four Marines and a sailor in Tennessee, Defense Secretary Ash Carter is ordering the military services to consider new policies that would enhance security for troops at home, including potentially arming more personnel.   Business: DOD weighs supplier base,...
 
 

News Briefs July 31, 2015

U.S. delivering eight newer F-16 warplanes to Egypt The United States Embassy in Cairo says the U.S. is delivering eight newer F-16 warplanes to Egypt as part of an ongoing military support package. It says in a July 30 statement that the aircraft, of the current Block 52 production variant, will be flown in from...
 
 
Lockheed Martin photograph

Lockheed Martin successfully tests design changes for Orion spacecraft’s fairing separation system

Lockheed Martin photograph A protective panel for Orion’s service module is jettisoned during testing at Lockheed Martin’s Sunnyvale, California facility. This test series evaluated design changes to the spacecraft’s fair...
 

 

Australian company to provide parts for initial production of Triton UAS

Northrop Grumman has awarded the first Australian supplier contract for the U.S. Navy’s MQ-4C Triton unmanned aircraft system initial production lot to Ferra Engineering. Brisbane-based Ferra Engineering will manufacture mechanical sub-assemblies for the first four Triton air vehicles including structural components. “At Northrop Grumman it’s very important to not only develop...
 
 
Boeing photograph

CH-46 ‘Phrog’ makes its last hop

Boeing photograph The CH-46 Sea Knight helicopter commonly known as the “Phrog,” is set to retire and to be flown one last time by Reserve Marine Medium Helicopter Squadron (HMM) 774 on Aug. 1. The CH-46 Sea Knight is a med...
 
 

Insitu awarded LRIP Lot IV RQ-21A Blackjack Systems contract

Under the terms of its latest contract, Insitu will build six RQ-21A Blackjack systems for the U.S. Navy and Marine Corps. The $78-million Small Tactical Unmanned Aircraft Systems Lot IV Low Rate Initial Production contract is the latest event in the program’s progression toward the Initial Operational Test and Evaluation phase.   “This award will...
 




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=""> <s> <strike> <strong>