Qioptiq logo Raytheon Global MilSatCom

SALES DECLINE AT ROCKWELL COLLINS

16 Apr 02. Rockwell Collins Inc. (NYSE:COL – news) said on Tuesday that fiscal second-quarter net income fell more than 6 percent as sales dropped sharply in its commercial aerospace unit. Commercial sales dropped 19 percent in the quarter while defense sales rose slightly.

The company reported net income of $58m, or 31 cents per share, for the three months ended march 31, (2001: $62m, or 33 cents). Analysts had expected a profit of 28 cents per share, with estimates ranging from 26 cents to 30 cents.

Rockwell Collins said it continues to expect fiscal 2002 earnings per share of $1.15 to $1.25. Sales totaled $608m, (2001: $690m). Commercial sales dropped to $352m, (2001: $436m). Government sales rose to $256m, (2001:$254m) as sales for helicopter programs helped offset completion of a modification program for refuelling jets in the fiscal 2001 third quarter, Rockwell Collins said.

Back to article list