Rockwell Collins reports mixed profits in 4QFY2014, confirms FY2014 guidance

Rockwell Collins revenue down 1% - financial highlights:

• Three months ended 30-Sep-2013:
• • Total revenue: USD1252 million, -1.1% year-on-year;
  • • Commercial systems: USD583 million, +3.2%;
  • Segment operating profit: USD273 million, -8.1%;
  • • Commercial systems: USD122 million, stable;
  • Net profit: USD175 million, +15.1%;
• 12 months ended 30-Sep-2013:
• • Total revenue: USD4610 million, -2.5%;
  • • Commercial systems: USD2215 million, +3.7%;
  • Segment operating profit: USD976 million, -3.2%;
  • • Commercial systems: USD+8.4%;
  • Net profit: USD632 million, +3.8%;
  • Total assets: USD5400 million;
  • Cash and cash equivalents: USD391 million;
  • Total liabilities: USD3777 million;
• FY2014 forecast:
• • Total sales: USD4500 million to 4600 million;
  • Total segment operating margin: 21% to 22%;
  • Earnings per share: USD 4.30 to USD4.50;
  • Cash flow from operations: USD550 million to USD650 million;
  • Total research and development investment: USD950 million;
  • Capital expenditure: UPS140 million;
  • Full year income tax rate: 30%. [more - original PR]

Rockwell Collins: "Our focus on increasing efficiencies across our business drove strong operating performance, including 21% operating margins, a 16% improvement in operating cash flow, and a 10% improvement in earnings per share, while allowing us to sustain our investments in R&D in support of long-term growth objectives. We addressed the uncertainty of sequestration by incorporating the anticipated impacts into our plan and taking early action on our cost structure. These actions should also generate the savings necessary to sustain margins despite another year of continued headwinds in our government business in fiscal 2014," Kelly Ortberg, CEO. Source: Company statement, 25-Oct-2013.