11-Feb-2011 12:54 PM

Spirit AeroSystems profits improve in 4Q2010

Spirit AeroSystems revenue stable – financial highlights:

  • Three months ended 31-Dec-2010:
    • Revenue: USD1071 million, stable year-on-year;
      • Fuselage systems: USD519.1 million, +2.6%;
      • Propulsion systems: USD262.8 million, +1.9%;
      • Wing systems: USD287.7 million, -7.6%;
    • Operating profit: USD96 million, +13%;
    • Segment operating profit: USD136.2 million, +16.8%;
      • Fuselage: USD67.9 million, +16.7%;
      • Propulsion: USD39.9 million, +57.1%;
      • Wing: USD27.9 million, -16.5%;
    • Net profit: USD62 million, +24%;
  • 12 month ended 31-Dec-2010:
    • Revenue: USD4172 million, +2%;
      • Fuselage: USD2035 million, +1.6%;
      • Propulsion: USD1062 million, +3.1%;
      • Wing: USD1067 million, +4.2%;
    • Operating profit: USD357 million, +18%;
    • Segment operating profit: USD529 million, +23.2%;
      • Fuselage: USD292 million, +1.6%;
      • Propulsion: USD138 million, +12.2%;
      • Wing: USD101 million, +387.9%;
    • Net profit: USD219 million, +14%;
  • FY2011 forecast:
    • Revenue: USD4500 million to USD4700 million;
    • Earnings per share: USD1.70 to USD1.90;
    • Operating cash flow: USD75 million;
    • Capital expenditure: USD325 million. [more]

Spirit AeroSystem: "Looking forward, our company is financially strong and in a solid competitive position as our core product volumes increase and our development programs mature. With a substantial backlog supporting Spirit's future, we are implementing plans to expand capacity for our core business. With this growth outlook and our focus on performance, we are positioned to drive long-term value," Jeff Turner, President and CEO. Source: Spirit AeroSystems, 10-Feb-2011.

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