Rockwell Collins reports mixed profit growth in 3QFY2013, upgrades earnings per share guidance

Rockwell Collins revenue down 3% - financial highlights for three months ended 30-Jun-2013:

• Revenue: USD1165 million, -3.3% year-on-year;
• • Commercial systems: USD563 million, +7.0%;
  • Air transport aviation electronics: USD298 million, +5.7%;
• Segment operating profit: USD261 million, +3.2%;
• • Commercial systems: USD132 million, +25.7%;
• Profit before tax: USD234 million, +1.7%;
• Net profit: USD164 million, -1.2%;
• FY2013 guidance:
• • Total sales: USD4650 million, from previous guidance of USD4600 million to USD4700 million;
  • Total segment operating margins: 21% to 22%;
  • Earnings per share: USD4.55 to USD4.60, from previous guidance of USD4.45 to USD4.65;
  • Cash flow from operations: USD600 million, from previous guidance of USD500 million to USD600 million
  • Total research and development investment: USD950 million;
  • Capital expenditure: USD125 million, from USD140 million;
• Total assets: USD5397 million;
• Cash and cash equivalents: USD354 million;
• Total liabilities: USD4189 million. [more - original PR]

Rockwell Collins: "Although near-term visibility remains difficult as the U.S. Department of Defense incorporates the impacts of sequestration, we see continued strength in our commercial business. Based on our performance to-date, we are increasing our guidance for earnings per share and operating cash flow toward the high end of our previous range," Clay Jones, Chairman and CEO. Source: Company statement, 19-Jul-2013.