Rockwell Collins Holds Earnings, But Notes Aero-Industry Losses In 2Q/09 | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

** Airborne 07.23.14--CLICK HERE! ** HD iPad-Friendly Version--Airborne 07.23.14 **
** Airborne 07.21.14--CLICK HERE! ** HD iPad-Friendly Version--Airborne 07.21.14 **
** Airborne 07.18.14--CLICK HERE! ** HD iPad-Friendly Version--Airborne 07.18.14 **

Wed, Apr 29, 2009

Rockwell Collins Holds Earnings, But Notes Aero-Industry Losses In 2Q/09

Still Achieves Earnings Per Share Of $1.03 For Second Quarter Fiscal Year 2009

Aerospace giant, Rockwell Collins, is reporting earnings (per share) of $1.03 for the second quarter of fiscal year 2009 -- pretty much level with the same period last year. Earnings, per share, remained level despite a second quarter fiscal year 2009 sales decline of $48 million, or 4%, to $1.138 billion compared to sales of $1.186 billion a year ago. The decline in revenues was primarily due to the effect of the global recession on the company's Commercial Systems OEM and aftermarket customers and the timing of Boeing's production ramp-up following their labor strike.

The financial report notes some continuing softness in the aviation sector with the following low notes:

  • Commercial Systems, which provides aviation electronics systems, products and services to air transport, business and regional aircraft manufacturers and airlines worldwide, achieved second quarter sales of $525 million, a decrease of $85 million, or 14%, compared to sales of $610 million reported for the same period last year. 
     
  • Sales to airlines and aircraft OEMs related to new aircraft production decreased $33 million, or 10%, to $295 million, as a result of the timing of Boeing's return to full production rates following their labor strike and reduced production rates at business jet OEMs due to the impact of global macro-economic factors. Aftermarket revenues decreased $34 million, or 14%, to $213 million due primarily to lower Boeing 787 simulator equipment sales as well as lower avionics service, support and hardware sales. Wide-body in-flight entertainment products and systems sales declined $18 million, or 51%, to $17 million due to the company's decision in 2005 to cease investing in those products.
     
  • Commercial Systems' second quarter operating earnings decreased 21% to $110 million, delivering an operating margin of 21.0%, compared to operating earnings of $140 million, or an operating margin of 23.0%, for the same period a year ago. The decrease in operating earnings was due primarily to lower sales volumes and the absence of royalty income benefiting the prior year quarter, partially offset by lower employee incentive compensation costs and lower research and development costs.
FMI:  www.rockwellcollins.com

Advertisement

More News

FAA Extends NOTAM For Ben Gurion International Airport

Adds 24 HoursTo Ban On US Flights To Tel Aviv The FAA has issued another Notice to Airmen (NOTAM) informing U.S. airlines that Tuesday's NOTAM flight remains in effect for Israel's>[...]

Airborne 07.23.14: Garmin's 7 Inch Touch, Equusearch v FAA, Andreini Family Sues

Also: GA Investment, Bud and Ross Granley, C-9 Farewell, Jepp FlightDeck, How To Find ANN At Oshkosh Garmin’s “Team X” is dedicated to experimental aircraft avion>[...]

ANN's Daily Aero-Linx (07.24.14)

Abandoned & Little Known Airfields Obviously the author's labor of love, "Abandoned & Little Known Airfields" is a listing by state of airstrips either off the beaten path,>[...]

ANN's Daily Aero-Term (07.24.14): Peak Gust

The highest instantaneous wind speed observed or recorded.>[...]

Aero-News: Quote Of The Day (07.24.14)

"Participation at the Oshkosh airshow has become a staple for NTSB investigators and staff.” Source: NTSB Acting Chairman Christopher A. Hart.>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2014 Web Development & Design by Pauli Systems, LC