Rockwell Collins (COL) Tops Q1 EPS by 5c

Rockwell Collins (NYSE: COL) reported Q1 EPS of $1.20, $0.05 better than the analyst estimate of $1.15. Revenues was $1.19 billion versus the consensus of $1.2 billion.

"I'm pleased to report a very strong quarter of operating performance with total segment margins increasing 90 basis points and adjusted earnings per share growing 17% over the prior year,” said Rockwell Collins Chairman, President, and Chief Executive Officer, Kelly Ortberg. “First quarter sales were as anticipated with solid growth in our Government Systems and Information Management Services segments as well as a decline in Commercial Systems sales due to headwinds from lower business jet and aftermarket sales. As a result, we are reaffirming our financial guidance for the full year."

Ortberg continued, "We are making good progress with our pending acquisition of B/E Aerospace, which will strengthen our position as a leading supplier of cockpit and cabin solutions. Our integration planning teams are moving full speed ahead and all of our targets remain intact. I continue to be confident in our ability to achieve our synergy targets while focusing on successfully integrating these two great companies. The next major milestones include shareholder and various regulatory approvals, all of which we expect to complete in the coming months.”

For earnings history and earnings-related data on Rockwell Collins (COL) click here.

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