Goodrich optimistic as downturn hits earnings

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Goodrich has reported net income of $111 million for the first quarter of 2010, as compared with $170 million during the same period last year. Operating income reached $221 million from $268 million in Q1/2009.

Marshall Larsen, chairman, president and chief executive officer, says: "Our first quarter 2010 results were consistent with our expectations. Our commercial aircraft aftermarket sales rose by about 9% sequentially, compared with the fourth quarter 2009, although they were about 10% lower than the first quarter 2009.

"We see positive indicators that commercial aftermarket sales will be trending upward throughout this year, and we still expect sequential growth each quarter of 2010. We continue to expect year-over-year growth during the second half of this year and 4-7% growth for the full year 2010, compared to 2009."