Rockwell Collins Reports 48% Increase in Q3 Earnings per Share

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Rockwell Collins, Inc. reported sales for the third quarter of fiscal year 2018 of $2.208 billion, a 5% increase from the same period in fiscal year 2017. Third quarter fiscal year 2018 earnings per share were $1.66 compared to $1.12 in the prior year's third quarter. Earnings per share in the third quarter of fiscal year 2018 includes a 23 cent charge relating to the settlement of a contract matter and the write-down to fair value of assets associated with an engineered components business classified as held for sale as of June 30, 2018. In addition, earnings per share in the third quarter of fiscal year 2018 includes a 42 cent discrete benefit from the enactment of the Tax Cuts and Jobs Act.

Adjusted earnings per share for the third quarter of fiscal year 2018 was $1.73 compared to $1.64 in the prior year's third quarter.

"In addition to the solid business performance for the quarter, we have spent significant energy preparing for the upcoming merger with United Technologies Corporation," said Rockwell Collins Chief Executive Officer and President, Kelly Ortberg. "I'm confident that those efforts, along with strong market conditions, will allow us to hit the ground running at the anticipated close."

Business Highlights

• U.S. Air Force selected Rockwell Collins for expanded avionics support on KC-135s
• Rockwell Collins was awarded multiple repair contracts by the U.S. Air Force to support Global Air Traffic Management components on the entire KC-135 tanker fleet.
• Los Angeles County Sheriff’s Department selected UrgentLink® for disaster communications
• Rockwell Collins has deployed its UrgentLink® disaster communications network to the Los Angeles (LA) County area for the LA County Sheriff’s Department to provide a countywide backup communications system for use during man-made or natural disasters.
• Australian Army extended contract with Rockwell Collins for avionics support on CH-47F Chinooks
• Rockwell Collins was selected by the Australian Army to provide extended avionics support for its fleet of CH-47F Chinook helicopters through a performance-based logistics contract.
• Rockwell Collins awarded contract from CAE to provide training display for CC-295 full-flight simulator
• Rockwell Collins was selected by CAE to provide its Panorama collimated display for the CC-295 full-flight simulator that CAE will deliver in support of the Royal Canadian Air Force’s Fixed-Wing Search and Rescue program.
• Cascade Aerospace selects Rockwell Collins weather radar for Royal Canadian Air Force C-130H fleet
• Rockwell Collins was selected by Cascade Aerospace to provide a modern weather radar for the Royal Canadian Air Force C-130H fleet. The upgrade will provide an enhanced level of weather threat detection to help RCAF pilots perform unique search and rescue missions using the C-130.
• Rockwell Collins signed agreement with Comlux to provide complete solutions for VIP aircraft
• Rockwell Collins and Comlux signed a general terms agreement in which Rockwell Collins will provide its VIP customers with a comprehensive product portfolio, including avionics, cabin management, content and entertainment options, seating, lighting and galley products, as well as ARINCDirectSM connectivity and flight services.
• Rockwell Collins’ expanded cabin portfolio selected for first Airbus ACJ320neo VIP aircraft
• Switzerland-based AMAC Aerospace has selected a full suite of Rockwell Collins’ cabin products for the world’s first Airbus ACJ320neo VIP aircraft.
• TRU Simulation + Training selected Rockwell Collins to provide integrated visual systems on its commercial full flight simulators
• TRU Simulation + Training selected Rockwell Collins to provide its integrated visual systems for 15 systems over the next three years for several of TRU’s commercial full flight simulator clients for commercial airlines and airframe manufacturers. 

About Rockwell Collins 

Rockwell Collins is a leader in aviation and high-integrity solutions for commercial and military customers around the world. Every day we help pilots safely and reliably navigate to the far corners of the earth; keep warfighters aware and informed in battle; deliver millions of messages for airlines and airports; and help passengers stay connected and comfortable throughout their journey. As experts in flight deck avionics, cabin electronics, cabin interiors, information management, mission communications, and simulation and training, we offer a comprehensive portfolio of products and services that can transform our customers' futures. To find out more, please visit www.rockwellcollins.com.