Rockwell Collins, Inc. (COL) reported third-quarter income from continuing operations of $163 million or $1.19 per share, compared to $161 million or $1.18 per share, in the third quarter of last year. Total earnings per share was $1.15, compared to $1.20.
On average, 19 analysts polled by Thomson Reuters expected the company to report profit per share of $1.17 for the quarter. Analysts' estimates typically exclude special items.
Total sales were $1.26 billion, an increase of 12% from $1.13 billion in the same period in 2013, primarily due to the acquisition of ARINC. Analysts expected revenue of $1.30 billion for the quarter.
The company also announced it entered into an agreement to sell its satellite communications systems business formerly known as Datapath, Inc., which designs, manufactures and services ground-based satellite communication systems primarily for military customers.
The company updated its fiscal year 2014 outlook from continuing operations due to the pending sale of Datapath and to narrow the ranges from the previous financial guidance.
Total sales are expected to be between $4.90 billion to $4.95 billion, compared to prior guidance range of $4.95 billion to $5.05 billion. Earnings per share is expected to be between $4.45 and $4.55, compared to previous guidance of $4.40 to $4.55. Analysts expect the company to report full year profit per share $4.50 on revenue of $5.04 billion.
by RTT Staff Writer
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