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

July 24, 2012 | About:
10qk

10qk

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Rockwell Collins Inc. (COL) filed Quarterly Report for the period ended 2012-06-30.

Rockwell Collins, Inc. has a market cap of $7.15 billion; its shares were traded at around $46.66 with a P/E ratio of 12.4 and P/S ratio of 1.5. The dividend yield of Rockwell Collins, Inc. stocks is 2.4%. Rockwell Collins, Inc. had an annual average earning growth of 12.7% over the past 10 years. GuruFocus rated Rockwell Collins, Inc. the business predictability rank of 3.5-star.

Highlight of Business Operations:

Income from continuing operations for the three months ended June 30, 2012 increased 6 percent, or $9 million to $166 million from $157 million of income from continuing operations for the three months ended June 30, 2011. Diluted earnings per share from continuing operations increased 13 percent to $1.14 for the three months ended June 30, 2012 compared to $1.01 for the three months ended June 30, 2011. The rate of increase in diluted earnings per share from continuing operations was greater than the percentage rate increase in income from continuing operations because of the favorable impact of our share repurchase program.

Commercial Systems operating earnings decreased $2 million, or 2 percent, to $105 million, or 20.0 percent of sales, for the three months ended June 30, 2012 compared to operating earnings of $107 million, or 20.5 percent of sales, for the three months ended June 30, 2011. The $2 million decrease in Commercial Systems operating earnings was primarily due to the following:

Income from continuing operations for the nine months ended June 30, 2012 was $457 million, which was unchanged from the $457 million reported for the nine months ended June 30, 2011. Diluted earnings per share from continuing operations increased 6 percent to $3.09 for the nine months ended June 30, 2012 compared to $2.92 for the nine months ended June 30, 2011. Diluted earnings per share benefited from the favorable impact of our share repurchase program.

Commercial Systems operating earnings increased $38 million, or 14 percent, to $318 million, or 20.3 percent of sales, for the nine months ended June 30, 2012 compared to operating earnings of $280 million, or 19.0 percent of sales, for the nine months ended June 30, 2011. The $38 million increase in Commercial Systems operating earnings was primarily due to the following:

the above items were partially offset by lower payments for inventory and other operating costs of $69 million to $2,850 million in the first nine months of 2012 compared to $2,919 million in the first nine months of 2011. The decrease was primarily due to lower costs associated with lower sales volume in 2012 as discussed in the Results of Operations section above

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