Rockwell Collins reports higher earnings amid growth and cuts risk
Rockwell Collins Chairman CEO Clay Jones said first quarter 2013 results show improved operating margins and a 4 percent share buyback. The company forecasts potential job cuts of about 1,000 if sequestration reduces defense spending, with around 300 jobs tied to Government Systems. Commercial Systems sales rose to 516 million, driven by higher production of Bombardier Globals, Boeing 787s and Airbus A330s, while total first quarter sales were 546 million, down from last year. Jones noted Boeing 787 issues did not affect Rockwell Collins and production remains at four aircraft per month, expected to rise later.
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United States
Clay Jones
Rockwell Collins
Jones
Congress
Cedar Rapids
Iowa
Brazil
India
Middle East
Commercial Systems
Boeing
Government
Liz Martin
the Gazette
Rockwell
Rockwell Collins lifts full year outlook on solid first quarter
Cedar Rapids avionics supplier Rockwell Collins reports Q1 net income of 132 million or 94 cents per share on 1.06 billion in sales down 3 percent from a year earlier. Analysts expected 89 cents on 1.04 billion. Full year revenue forecast raised to 4.6 to 4.7 billion with 4.45 to 4.65 dollars per share. It plans about 1 billion in R and D and targets preproduction investments for 737 Max, CSeries and Global programs.
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Rockwell Collins
Cedar Rapids
FactSet
U.S. Department of Defense
Ministries of Defense
Jones
IEDA approves expansion aid for Cedar Rapids firms in multiple projects
The Iowa Economic Development Authority Board approved financial assistance for two Cedar Rapids companies Buffalo Cody and Sadler Power Train to fund expansion plans. Buffalo Cody will invest about 3.3 million and create 111 jobs with state tax credits and a 60,000 square foot HQ near C Street and 76th Avenue SW. Sadler Power Train plans a 30,000 square foot Davenport facility costing 3.25 million to replace the existing 14,500 square foot site and add six jobs with state tax credits. Additional actions include aid to Bodine Electric in Peosta, Monsanto seed corn expansion in Grinnell and Williamsburg, and loans to Breads From Anna and Foundations in Learning.
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Cedar Rapids
Iowa Economic Development Authority Board
Buffalo Cody
Kirkwood North Rd
Iowa
C Street
76Th Avenue
Sadler Power Train
Sadler Dr. SW
Davenport
IEDA
Sadler
Northfield
Peosia
Gear Motors
Monsanto
Grinnell
Williamsburg
Anna
Iowa City
Foundations In
Learning
Iowa Innovation Acceleration Fund
Acciona Windpower
West Branch
Rockwell Collins
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S.C
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George
Ford
Sourcemedia
C.R
George C. Ford
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