Rockwell Collins Q1 Profit Beats Estimates; Lifts FY14 Outlook - Quick Facts

(RTTNews) - Rockwell Collins, Inc. (COL) reported that its first-quarter net income declined to $131 million, from $132 million, prior year. Earnings per share was $0.96, an increase of 2% from $0.94 in the first quarter of last year.

On average, 16 analysts polled by Thomson Reuters expected the company to report profit per share of $0.94 for the quarter. Analysts' estimates typically exclude special items.

Total sales were $1.07 billion, an increase of 1% from $1.06 billion, a year ago. Analysts expected revenue of $1.07 billion for the quarter.

The company increased its fiscal 2014 financial guidance to include the acquisition of ARINC as well as an improved outlook for Government Systems. Sales are now expected to be in the range of $4.95 billion to $5.05 billion, compared to the prior guidance range of $4.5 billion to $4.6 billion. ARINC sales are estimated to be in the range of $400 million to $430 million. Analysts expect revenue of $5.00 billion for fiscal 2014.

Earnings per share outlook increased 5 cents and is now expected to be in the range of $4.35 to $4.55, compared to a prior outlook range of $4.30 to $4.50, primarily due to the improved Government Systems outlook. The company also expects the combined impact of transaction related items and the operations of ARINC for the remaining three quarters of the fiscal year to be slightly accretive. Analysts expect the company to report fiscal 2014 earnings per share of $4.44.