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28 Jan 16. Caterpillar profit beats as cost-cutting efforts pay off. Caterpillar Inc.’s (CAT.N) quarterly profit beat estimates as the company cut costs in the face of slumping commodity prices that has hit demand for its construction and mining equipment.
Caterpillar’s shares rose 4.9 percent in premarket trading on Thursday after the company also forecast 2016 earnings above Wall Street estimates.
The company said it expects 2016 earnings of $4.00 per share, excluding restructuring costs, compared with $3.48 per share, according to Thomson Reuters I/B/E/S.
Caterpillar said in September it would cut as many as 10,000 jobs through 2018. In October, the company raised its estimate for restructuring costs to $800m in 2015 from $250m.
The company said on Thursday it expected further restructuring costs of about $400m in 2016.
Total sales and revenue fell to $11.03bn in the fourth quarter ended Dec. 31, from $14.24bn a year earlier.
Caterpillar reported a quarterly loss attributable to common stockholders of $87m, or 15 cents per share, compared with a profit of $757m, or $1.23 per share, a year earlier.
Excluding restructuring costs, Caterpillar earned 74 cents per share, compared with the average analyst estimate of 69 cents per share. (Source: Reuters)
26 Jan 16. Rockwell Collins to Acquire Matrix Series Projector Product Lines from Christie Digital Systems. Rockwell Collins has entered into a definitive agreement to acquire the assets of the Matrix series projector product lines from Christie Digital Systems (“Christie®”). The transaction will give military and aviation customers a more comprehensive partner for all their current and future simulation and training projector needs. Rockwell Collins will acquire the Matrix SIM and Matrix StIM™ product lines. The projectors will continue to be manufactured by Christie with system engineering, integration and support provided by Rockwell Collins. In addition, Rockwell Collins will provide service and support for Matrix projectors and all future Matrix offerings. Rockwell Collins will also gain exclusive rights to sell other projection products and associated software tools from Christie in the worldwide simulation and training market segments for military or aviation applications.
“Rockwell Collins’ expertise and relationships in the military and aviation training segment, coupled with Christie’s technology, will deliver strong value to this growing customer base well into the future,” said LeAnn Ridgeway, vice president and general manager, Simulation and Training Solutions for Rockwell Collins. “This relationship will enable Christie to focus on core strengths in product design, development, and manufacturing of projection technology and allows Rockwell Collins, through its network of customers and relationships, to bring the best products to the military and aviation simulation and training market.”
“As the leading experts in military and aviation simulation, Rockwell Collins brings an unequalled depth of vision and customer understanding to these markets,” said Jack Kline, chairman, president and CEO, Christie Digital Systems USA, Inc. “Christie is excited to support Rockwell Collins with our engineering and design strengths to provide products that will exceed customer expectations in these simulation markets for the next 15 to 20 years.”
The Matrix series of projectors complements other offerings from Rockwell Collins, including the Rockwell Collins ProSim™ ultra contrast projector, which was awarded the Blue Ribbon for Innovation by Military Training Technology in 2014, the EP-8100 image generator, as well as other third-party projector solutions. For example, the Rockwell Collins EP-8100 image generator ha