Rockwell Collins reports falling profits in 2QFY2010

Rockwell Collins reports (23-Apr-2010) the following financial highlights:

• Three months ended 31-Mar-2010:
  • Total sales: USD1,142 million, +0.4% year-on-year;
    • Commercial Systems: USD449 million, -14.5%;
  • Segment operating profit: USD219 million, -14.1%;
    • Commercial Systems: USD69 million, -37.3%;
  • Profit before tax: USD196 million, -18.3%;
  • Net profit: USD148 million, -9.8%;
• Six months ended 31-Mar-2010:
  • Total sales: USD2,169 million, -1.2%;
    • Commercial Systems: USD860 million, -14.8%;
  • Segment operating profit: USD421 million, -14.4%;
    • Commercial Systems: USD137 million, -33.8%;
  • Profit before tax: USD377 million, -18.4%;
  • Net profit: USD269 million, -14.6%;
• FY2010 Outlook:
  • Total sales: USD4,600 million to USD4,800 million;
  • Total segment operating margin: 18.5% to 19.5%;
  • Capital expenditure: USD135 million. [more]

Rockwell Collins: "Market indicators continue their positive vector giving us increased confidence that sequential increases in sales and profits will allow us to achieve our fiscal year 2010 expectations and position us well for fiscal year 2011," Clay Jones, Chairman, President and CEO. Source: Rockwell Collins, 23-Apr-2010.