Rockwell Collins revenue down 2.9%, profit slides in 1QFY2010

Rockwell Collins revenue down 2.9% - financial highlights for the three months ended 31-Dec-2009:

• Revenue: USD1,027 million, -2.9% year-on-year;
  • Commercial Systems: USD411 million, -15.1%;
    • Air Transport Aviation Electronics: USD241 million, +9.5%;
    • Business & Regional Aviation Electronics: USD170 million, -35.6%;
• Segment operating profit: USD202 million, -14.8%;
  • Commercial Systems: USD68 million, -29.9%;
• Net profit: USD121 million, -19.9%. [more]

Rockwell Collins: "I really do feel that the worst of the recession impact may be behind…although revenues declined on a year-over-year basis we realized an increase in operating cash flow through working capital performance and minimized the impact to operating margins through effective cost containment. Improvements in commercial aerospace conditions and general developments in the formulation of defense budgets world-wide reinforce my confidence that we should see sequential growth in sales and profitability throughout the year which will allow us to achieve our full year forecast," Clay Jones, Chairman, President & CEO. Source: Rockwell Collins, 28-Jan-2010.