Tuesday, January 21, 2014
Rockwell Collins Increases 2014 Outlook
Rockwell Collins has increased its projected sales for 2014 to be in the range of $4.95-5.05 billion after recording total sales of $1.07 billion during the first quarter of 2014. The company's first quarter earnings were an increase of 1 percent from the $1.06 billion recorded during the same period a year ago. ARINC, which was acquired by Rockwell Collins in December, contributed $6 million of "inorganic sales" to the aerospace and defense manufacturer's first quarter earnings.
Kelly Ortberg, CEO of Rockwell Collins, said the first quarter commercial systems and government systems results were in line with expectations. Government systems’ outlook for 2014 improved from the passage of the Murray-Ryan Bipartisan Budget Act, which reduced some of the military spending cuts that have significantly impacted Rockwell Collins and other major manufacturers.
"2014 begins a new chapter for our company as we accelerate our return to growth. The acquisition of ARINC, along with strong positions in our core markets and expanding international business, will continue to fuel improved performance reinforcing my confidence in our guidance for the year as well as our outlook for the future," said Ortberg.