Rockwell Collins FY2010 profits down but upgrades FY2011 revenue forecast

Rockwell Collins revenue up 8% - financial highlights:

• Three months ended 30-Sep-2010:
  • Revenue: 1,282 million, +7.7% year-on-year;
    • Commercial Systems: USD484 million, +7.8%;
  • Segment operating profit: USD250 million, +8.7%;
    • Commercial Systems: USD81 million, +14.1%;
  • Profit before tax: USD220 million, +15.8%;
  • Net profit: USD150 million, +11.9%;
• 12 months ended 30-Sep-2010:
  • Revenue: USD4,665 million, +4.4%;
    • Commercial Systems: USD1,804 million, -4.6%;
  • Segment operating profit: USD899 million, -5.9%;
    • Commercial Systems: USD293 million, -17.0%;
  • Profit before tax: USD802 million, -7.5%;
  • Net profit: USD561 million, -5.6%;
  • Total assets: USD5,064 million, +9.0%;
  • Total liabilities: USD3,578 million, +6.8%;
• FY2011 forecast:
  • Total sales: USD4,800 million to USD5,000 million;
  • Segment operating margin: 19.5% to 20.5%;
  • Operating cash flow: USD650 million, to USD750 million;
  • Research and development costs: USD900 million to USD950 million;
  • Capital expenditure: USD150 million. [more]

Rockwell Collins: "As a challenging fiscal year 2010 comes to a close, our company is clearly gaining momentum as we realised year-over-year growth in quarterly EPS for the first time since the first quarter of 2009. Looking to 2011, we expect Commercial Systems to experience robust growth as this market continues to improve," Clay Jones, Chairman, President and CEO. Source: Rockwell Collins, 29-Oct-2010.