Rockwell Collins reports mixed profit growth in 2QFY2014, adjusts full year guidance

Rockwell Collins revenue up 13% - financial highlights for three months ended 31-Mar-2014:

• Revenue: USD1272 million, +12.5% year-on-year;
• • Commercial systems: USD556 million, +3%;
  • • Original equipment: USD317 million, +2%;
    • Aftermarket: USD221 million, +4%;
    • Widebody entertainment; USD18 million, stable;
• Operating profit: USD254 million, +10.9%;
• • Commercial systems: USD127 million, +9%;
• Net profit: USD148 million, -8.1%;
• Total assets: USD7083 million;
• Cash and cash equivalents: USD410 million;
• Total liabilities: USD5231 million;
• FY2014 forecast:
• • Total sales: USD4950 million to USD5050 million;
  • Total segment operating margins: 20% to 21%;
  • Earnings per share: USD4.40 to USD4.55, compared to previous guidance of USD4.35 to USD4.55;
  • Cash flow from operations: USD600 million to USD700 million;
  • Total research and development: USD950 million;
  • Capital expenditure: USD160 million;
  • Income tax rate: 30%. [more - original PR]

Rockwell Collins: "These strong second quarter financial results, including 12% sales growth and 20% total segment operating margins, support our plan to accelerate growth and increase shareowner value. Share gains from new OEM programs, expanding international sales, and growth in our new Information Management Services business more than offset anticipated declines in business aviation and defense. As we look forward, we expect to convert our sales growth into even higher levels of earnings and cash flow generation as we leverage our proven operating model," Kelly Ortberg, CEO. Source: Company statement, 17-Apr-2014.