Rockwell Collins Q2 Profit Tops View, Revenue Misses; Backs FY16 Forecast

(RTTNews) - Rockwell Collins, Inc. (COL) reported Thursday that its second-quarter net income increased to $171 million from $157 million last year. Earnings per share were $1.29, higher than $1.17 a year ago.

Earnings per share from continuing operations increased 7 percent to $1.30 from $1.22 in the prior year.

On average, 17 analysts polled by Thomson Reuters expected earnings of $1.29 per share. Analysts' estimates typically exclude special items.

Total sales in the second quarter were $1.31 billion, a 2 percent decrease from last year's $1.34 billion. Analysts were looking for revenues $1.33 billion.

Total segment operating margins remained steady at 20.7 percent.

Looking ahead, for fiscal 2016, the company continues to expect earnings per share between $5.45 and $5.65 and total sales between $5.3 billion and $5.4 billion.

Analysts expect earnings of $0.55 per share on sales of $5.33 billion for the year.

Rockwell Collins Chairman, President, and Chief Executive Officer, Kelly Ortberg, said, "Fiscal 2016 is progressing directionally as we expected. We anticipated the slow start in the first half of the year followed by expected growth in the second half. ...Our full year guidance remains unchanged as we now focus on delivering the second half growth."