DOW JONES NEWSWIRES
Rockwell Collins Inc. (COL) trimmed its fiscal-year revenue
target and sees earnings at the low end of expectations amid
restructuring efforts, but it gave a view for the new year than
includes revenue above analysts' estimates.
The company has been hurt by weakness in its commercial
jet-systems business as business-jet demand wanes. Rockwell
Collins' earnings fell 17% in the third quarter as the company's
steadier defense business helped.
Rockwell Collins, which supplies aircraft makers with cabin
electronics and flight controls, also supplies avionics equipment
to Boeing Co.'s (BA) 787 Dreamliner plane, which Boeing has
repeatedly delayed.
Rockwell Collins on Thursday projected earnings for the year
ending Sept. 30 of $3.70 to $3.75 a share, to low end of its
thrice-cut forecast, while revenue estimates were lowered $50
million to $4.5 billion. The latest earnings view includes an
8-cent a share restructuring charge.
But it sees profit for the coming year of $3.35 to $3.55 a share
on revenue of $4.6 billion to $4.8 billion. The mean estimates of
analysts surveyed by Thomson Reuters were $3.45 a share and $4.6
billion, respectively.
Rockwell Collins shares closed $48.74 Wednesday and weren't
active premarket. The stock is up 25% this year.
-By Joan E. Solsman, Dow Jones Newswires; 212-416-2291;
joan.solsman@dowjones.com