Spirit AeroSystems Holdings reported third quarter 2011 financial results reflecting solid core operating performance and strong demand for large commercial aircraft. Revenues were $1.130bn, up from $1.002bn for the same period of 2010 as the company benefited from higher production deliveries during the quarter. Operating income was $121m, compared to $82m for the same period in 2010, primarily driven by increased volume and model mix. In comparison, the third quarter of 2010 operating income included a $6m one-time expense and a $4m unfavorable cumulative catch-up adjustment associated with new program development. Net income for the quarter was $67m compared to $46m in the same period of 2010. Current quarter net income reflects higher interest expense associated with increased long-term debt, partially offset by a lower effective tax rate as compared to the third quarter of 2010.
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[email protected]
Mailing Address
AviTrader Publications Corp.
Suite 305, South Tower
5811 Cooney Road
Richmond, BC V6X 3M1
Canada