Rockwell Colllins posts small gains in Q1

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Rockwell Collins posted small gains in profits and revenues in the first quarter of the company's FY2013, compared to the same period a year ago.

The Iowa-based avionics and in-flight entertainment supplier also says it expects full-year revenues to declined to between $4.6 billion and $4.7 billion, down slightly from $4.73 billion in the fiscal year that ended on 30 September. Operating earnings in FY2013 are projected to range from $966 to $1.03 billion, or 21% to 22%, Rockwell Collins says.

Overall net income rose 2% to $132 million, but operating earnings declined by $5 million compared to the quarter ended 31 December 2011. That shortfall was partially offset by an $8 million reduction in income taxes in the 2012 quarter.

Higher shipments for Boeing 787s, Airbus A330s and Bombardier Globals helped raise revenues by 6% in the commercial systems segment, Rockwell Collins says. But aftermarket sales declined by $14 million during the quarter.