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Goodrich revenue down 3.1%, operating profit down 20% in 4Q2009

29-Jan-2010 12:31 PM

Goodrich revenue down 3.1% - financial highlights:

  • Three months ended 31-Dec-2009:
    • Revenue: USD1,642 million, -3.1% year-on-year;
      • Actuation & Landing Systems: USD645 million, +11.4%;
      • Nacelles & Interior Systems: USD533.4 million, -11.7%;
      • Electronic Systems: USD463.8 million, -9.5%;
    • Total cost: USD1,451 million, -0.2%;
    • Operating profit: USD191 million, -20.7%;
      • Actuation & Landing Systems: USD68.3 million, +11.2%;
      • Nacelles & Interior Systems: USD100.6 million, -30.9%;
      • Electronic Systems: USD65 million, -5.8%;
    • Net profit: USD105 million, -37.8%;
  • 12 months ended 31-Dec-2009:
    • Revenue: USD6,686 million, -5.3%;
      • Actuation & Landing Systems: USD2,524 million, -3.4%;
      • Nacelles & Interior Systems: USD2,322million, -6.6%;
      • Electronic Systems: USD1,838 million, -6.3%;
    • Total cost: USD5,756 million, -3.4%;
    • Operating profit: USD929.2 million, -15.5%;
      • Actuation & Landing Systems: USD266.9 million, -11.0%;
      • Nacelles & Interior Systems: USD515.3 million, -20.4%;
      • Electronic Systems: USD276.4 million, +2.8%;
    • Net profit: USD597.3 million, -12.3%. [more]

Goodrich: "While the market environment for commercial aftermarket products and services remains challenging, we continue to believe that 2010 will be a year of modest recovery which should allow us to grow our commercial aftermarket sales. We continue to expect aftermarket sales to be weak for the first few months of 2010, with the recovery beginning towards the middle of the year. In our large commercial original equipment market channel, Boeing and Airbus delivered a record 979 new airplanes in 2009 and both manufacturers are striving to maintain stable production for their narrowbody airplanes through at least 2010,” Marshall Larsen, Chairman, President and Chief Executive Officer. Source: Goodrich, 28-Jan-2010.