Goodrich revenue up 10%, net profit up 41% in 4Q2010

Goodrich revenue up 10% - financial highlights:

• Three months ended 31-Dec-2010:
  • Revenue: USD1806 million, +10% year-on-year;
    • Actuation and landing systems: USD639 million, -1%;
    • Nacelles and interior systems: USD624 million, +17%;
    • Electronic systems: USD543 million, +17%;
  • Operating profit: USD285.3 million, +22%;
    • Actuation and landing systems: USD63.7 million, -7%;
    • Nacelles and interior systems: USD148.9 million, +48%;
    • Electronic systems: USD72.7 million, +12%;
  • Net profit: USD148.3 million, +41.2%;
• 12 months ended 31-Dec-2010:
  • Revenue: USD6967 million, +4.2%;
    • Actuation and landing systems: USD2492 million, -1.3%;
    • Nacelles and interior systems: USD2340 million, +0.7%;
    • Electronic systems: USD2136 million, +16.2%;
  • Operating profit: USD1154 million, +9.0%;
    • Actuation and landing systems: USD273.1 million, +2.3%;
    • Nacelles and interior systems: USD555.9 million, +7.9%;
    • Electronic systems: USD324.9 million, +17.5%;
  • Net profit: USD578.7 million, -3.1%;
  • Total assets: USD9272 million, +6.1%;
  • Total liabilities: USD5884 million, +1.9%. [more]

Goodrich: "Large commercial airplane original equipment sales are expected to increase by about 15%. This outlook assumes all announced production rate increases are implemented, and Boeing 787 and 747-8 deliveries are consistent with the latest schedule announced by Boeing, Regional, business and general aviation airplane original equipment sales are expected to grow by about 30%, including incremental sales associated with the DeCrane acquisition. Excluding the sales from the DeCrane acquisition, sales would be expected to increase by about 6%, Large commercial, regional, business and general aviation airplane aftermarket sales are expected to increase by about 7% to 9%," Company statement. Source: Goodrich, 03-Feb-2011.