Rockwell Collins
Q2/2007 review
July 27, 2007:
Rockwell Collins, Inc. (NYSE:COL) reported a 21% increase in
its income (totaled $146 million) from sales of $1.113 billion,
a 149 million increase over the last year's third quarter ended
on June 30. The company raised its projections for the full
fiscal year 2007 outlook promising, derived mainly on strong
commercial aerospace market conditions and better than anticipated
third quarter sales of commercial systems. In the government
Government Systems, Rockwell Collins recorded sales of $568
million in the past quarter, an increase of $69 million, or
14%. Defense electronics systems sales generated $375 million.
Defense communications sales increased $29 million (18%), to
$193 million with accelerated work on JTRS radios and other
networked communication.
more...
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April
24, 2007: Rockwell Collins, Inc. (NYSE:COL) reported Earnings
Per Share (EPS) of 82 cents for the second quarter of 2007,
17 cents above EPS of Q2/06 - a 26% improvement. This growth
exceeded the growth rate in net income due to the favorable
effect of the company’s share repurchase program. The
company raised its expectation for sales in FY 2007 to about
$4.3 billion (previously in the range of $4.25 billion to $4.3
billion) expecting EPS in the range of $3.30 to $3.40.
Second quarter fiscal year 2007 sales increased
$126 million, or 13%, to $1.083 billion compared to sales of
$957 million a year ago. The acquisition of Evans & Sutherland
simulator visualization systems business in May 2006 contributed
$17 million to the sales in this period.
“These results reinforce the benefits of our balanced
exposure to both commercial and government markets, coupled
with an efficient and integrated business model,” said
Rockwell Collins Chairman, President and Chief Executive Officer
Clay Jones. “We expect market conditions
for both our businesses to remain robust. Second quarter Commercial
Systems performance outpaced our expectations, and Government
Systems generated earnings during the first half of the year
at the high end of our projections. Accordingly, we raised our
full year guidance for Commercial Systems sales, Commercial
and Government Systems operating margins, and earnings per share.”
Jones said.
Rockwell Collins' Commercial Systems, providing
avionics systems to air transport, business and regional aircraft
sold $542 million, an increase of $98 million, or 22% over Q2/06.
Earnings from commercial operations increased $36 million, or
42%, to $122 million, delivering an operating margin of 22.5%.
Sales of the Government Systems totaled $541 million,
demonstrating an increase of 5% over Q2/06. The division provides
military avionics, communications, navigation and precision
guidance for military platforms. Q2 operating earnings for the
Government Systems’ totaled $107 million, resulting in
an operating margin of 19.8% - representing an increase of 19.5%,
over Q2/06. The company expects this margin to be increased
to 20% for the whole year.
Defense electronics systems sales increased $7
million, or 2%, to $365 million principally due to higher sales
from rotary wing aircraft electronics systems programs and incremental
revenues of acquired businesses, which were almost entirely
offset by lower sales from certain European programs that are
essentially complete. Defense communications sales increased
$21 million, or 14%, to $176 million primarily due to higher
revenues from Joint Tactical Radio System (JTRS) and other networked
communication development programs.
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