Sun, Jan 22, 2012
Company Reports Strong Earnings Propelled In Part By Avionics
Sales
In releasing Rockwell Collins' first quarter earnings, CEO Clay
Jones says that the company is performing well, and that business
jet production may increase this year for the first time in three
years. Bloomberg reports that Jones made the comments during a
conference call with reporters Thursday.
Jones said that planemakers such as Cessna and Bombardier are
both improving, and he is more confident now that a recovery is
coming, if not already underway.
In the report, the company said that sales related to aircraft
original equipment manufacturers increased $32 million, or 14%, to
$265 million driven by higher product deliveries for the Bombardier
Global and Challenger platforms, and increased sales of avionics to
Boeing resulting from higher production rates for 777 and 747-8
aircraft. Aftermarket sales increased $27 million, or 14%, to $221
million primarily driven by increased sales of spares related to
new Boeing aircraft, para-military programs and Chinese regional
aircraft as well as higher service and support sales.
On the government side, avionics sales increased $9 million, or
3%, from the first quarter of 2011 due to increased sales for
tanker and rotary-wing programs, partially offset by a decline
resulting from the completion of deliveries for the KC-135 GATM
program and a reduction in simulation and training program
revenues. Communication product sales declined by $12 million, or
8%, primarily due to lower Joint Tactical Radio System revenue for
the Ground Mobile Radio variant as well as lower deliveries of
satellite communication terminals. Surface solutions sales
decreased $46 million, or 43%, resulting from the impact of two
programs terminated for convenience in the third quarter of 2011
and fewer deliveries of public safety vehicle systems. Sales of
Navigation products decreased by $18 million, or 25%, driven by
fewer deliveries of Defense Advanced GPS Receiver products.
Rockwell Collins also has contracts for about $3 million in
parts for each B787 which comes off the line.
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