Rockwell Collins reports 'solid' 3QFY2016

Rockwell Collins revenue up 3% - financial highlights for three months ended 30-Jun-2016:

• Revenue: USD1334 million, +3% year-on-year;
• • Commercial systems: USD612 million, stable;
  • • Original equipment: USD367 million, -2%;
    • Aftermarket: USD236 million, +5%;
    • Widebody inflight entertainment: USD9 million, -31%;
• Segment operating profit: USD282 million, +4%;
• • Commercial systems: USD141 million, stable;
• Net profit: USD214 million, +20%;
• Total assets: USD7675 million;
• Cash and cash equivalents: USD307 million;
• Total liabilities: USD5561 million. [more - original PR]

Rockwell Collins: "Lower-than-anticipated business aircraft OEM production rates and air transport aftermarket service and support sales have impacted our Commercial Systems revenue outlook. We now expect Commercial Systems sales to be down about 1% for the year. In spite of these market challenges, our strong operational performance has allowed us to narrow our earnings per share estimate for fiscal year 2016 within the previously guided range," Kelly Ortberg, Chairman, President, and CEO. Source: Company statement, 25-Jul-2016.