Spirit AeroSystems revenue stable, profitable in 2Q2010

Spirit AeroSystems revenue stable - financial highlights:

• Three months ended 30-Jun-2010:
  • Revenue: USD1,056 million, stable year-on-year;
    • Fuselage Systems: USD515.2 million, -4.8%;
    • Propulsion Systems: USD272.0 million, -2.3%;
    • Wing Systems: USD266.9 million, +13.7%;
  • Operating profit: USD86 million, compared with a loss of USD10 million in p-c-p;
  • Net profit: USD55 million, compared with a loss of USD8 million in p-c-p;
  • Operating cash flow: (USD7 million), compared with a negative cash flow of USD67 million in p-c-p;
• Six months ended 30-Jun-2010:
  • Revenue: USD2,099 million, +8%;
    • Fuselage Systems: USD1,031 million, +6.1%;
    • Propulsion Systems: USD546.4 million, +8.0%;
    • Wing Systems: USD515.8 million, +13.2%;
  • Operating profit: USD179 million, +104%;
  • Net profit: USD111 million, +103%;
  • Operating cash flow: (USD117 million), compared with a negative cash flow of USD216 million in p-c-p;
  • Cash and cash equivalents: USD118 million, -68.0% compared with period ended 31-Dec-2010;
  • Net debt: USD893 million, -0.1% when compared with period ended 31-Dec-2010;
  • Order backlog: USD27,200 million, -3%. [more]

Spirit AeroSystems: "Looking forward, the commercial aerospace market continues to strengthen, with demand for our core products growing. While certain segments of the business jet market are still a concern and several significant development milestones are ahead of us, our priority will continue to be on solid execution as we deliver on our customer commitments to ensure we meet our company's potential," Jeff Turner, CEO. Source: Spirit AeroSystems, 03-Aug-2010.