21 April 2014
Rockwell Collins, Inc. (NYSE: COL) has reported total sales for the second quarter of fiscal year 2014 were USD1.27bn, an increase of 12 percent from the same period in 2013 primarily due to the acquisition of ARINC.
Total segment operating earnings for the second quarter of fiscal year 2014 were USD254m, an increase of USD25m, or 11 percent, from the same period a year ago. Second quarter fiscal year 2014 earnings per share from continuing operations were USD1.07 and net income was USD147m compared to earnings per share from continuing operations of USD1.17 and net income of USD161m in the second quarter of last year. Prior year net income included a USD31m, or USD0.22 per share, benefit from the retroactive reinstatement of the Federal Research and Development Tax Credit, which expired on December 31, 2013.
ARINC, which was acquired on December 23, 2013, contributed USD137m of sales and USD17m of operating earnings to the second quarter of 2014. Rockwell Collins expects the ARINC portion of Information Management Services´ fiscal year 2014 operating margin to be in the range of 11 percent to 12 percent, (from 9 percent to 10 percent), due primarily to lower than previously estimated intangible asset amortization expense.
Rockwell Collins is a pioneer in the development and deployment of innovative communication and aviation electronic solutions for both commercial and government applications. Its website is at www.rockwellcollins.com.