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Rockwell Collins Inc. Reports Operating Results (10-Q)

January 28, 2011 | About:
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Rockwell Collins Inc. (COL) filed Quarterly Report for the period ended 2010-12-31.

Rockwell Collin has a market cap of $10.06 billion; its shares were traded at around $64.9 with a P/E ratio of 17.5 and P/S ratio of 2.1. The dividend yield of Rockwell Collin stocks is 1.5%. Rockwell Collin had an annual average earning growth of 16.2% over the past 10 years. GuruFocus rated Rockwell Collin the business predictability rank of 5-star.Hedge Fund Gurus that owns COL: Steven Cohen of SAC Capital Advisors, Kenneth Fisher of Fisher Asset Management, LLC, Kenneth Fisher of Fisher Asset Management, LLC. Mutual Fund and Other Gurus that owns COL: Sarah Ketterer of CAUSEWAY CAPITAL MANAGEMENT LLC, RS Investment Management, Jeremy Grantham of GMO LLC, Jean-Marie Eveillard of First Eagle Investment Management, LLC, Mario Gabelli of GAMCO Investors, Chuck Royce of Royce& Associates.
This is the annual revenues and earnings per share of COL over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of COL.


Highlight of Business Operations:

Total sales for the three months ended December 31, 2010 increased $83 million compared to the three months ended December 31, 2009 due to a $34 million increase in Government Systems sales and a $49 million increase in Commercial Systems sales. Incremental sales from the December 2009 acquisition of AR Group, Inc. (Air Routing) contributed $11 million, or 1 percentage point, of revenue growth. See the following Government Systems and Commercial Systems Financial Results sections for further discussion of sales.

Net income for the three months ended December 31, 2010 increased 25 percent to $151 million, or 13.6 percent of sales, from net income of $121 million, or 11.8 percent of sales, for the three months ended December 31, 2009. Net income for the three months ended December 31, 2010 includes a benefit of $16 million, or 1.4 percent of sales, related to the retroactive reinstatement of the Federal Research and Development Tax Credit discussed in the Income Taxes section below. Diluted earnings per share increased 26 percent to $0.96 for the three months ended December 31, 2010 compared to $0.76 for the three months ended December 31, 2009. The increase in net income and diluted earnings per share was primarily the result of higher earnings from Commercial Systems as discussed in the Commercial Systems Financial Results section below and a reduction in the effective income tax rate discussed in the Income Taxes section below.

Government Systems operating earnings were $131 million, or 20.2 percent of sales, for the three months ended December 31, 2010 compared to operating earnings of $134 million, or 21.8 percent of sales, for the same period one year ago. The $3 million reduction in Government Systems operating earnings was primarily due to the following:

Commercial Systems operating earnings for the three months ended December 31, 2010 were $84 million, or 18.3 percent of sales, compared to operating earnings of $68 million, or 16.5 percent of sales, for the three months ended December 31, 2009. The $16 million increase in Commercial Systems operating earnings was primarily due to the following:

Read the The complete Report

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