Monday, January 25, 2016
Rockwell Collins Sees First Quarter 2016 Decline
|Rockwell Collins Pro Line Fusion rotorcraft flight deck. Photo: Rockwell Collins|
[Avionics Today 01-25-2016] Rockwell Collins reported sales in the first quarter of fiscal year 2016 were $1.1 billion, a 5 percent decrease from the same period in fiscal year 2015. The company attributes the loss to challenging market conditions, particularly in business aviation.
"As we expected, our first quarter was a slow start to our fiscal 2016 plan," said Rockwell Collins Chairman, President, and Chief Executive Officer, Kelly Ortberg. "Our sales and earnings for Commercial Systems and Information Management Services (IMS) were in line with expectations. However, our Government Systems sales were below our expectations due to the timing of certain orders and a supplier quality issue which impacted late-quarter deliveries of communications products. I expect these issues to be quickly resolved and we should recover the delays within the fiscal year, supporting our second-half growth plan in Government Systems."
According the Ortberg, Rockwell Collins is remaining focused on executing programs that will drive long-term growth, including those programs executed in the first quarter of fiscal year 2016. These include certification of the C Series and ARJ-21 aircraft, first flight of the Mitsubishi Regional Jet (MRJ), entry into service of the Bombardier Challenger 650, continued progress on the Boeing 737MAX supporting aircraft rollout and upcoming first flight, and entry into service of the King Air with our new Fusion EDS avionics.