Rockwell Collins reports first quarter 2012 income of $130m

Rockwell Collins reported first quarter fiscal year 2012 income from continuing operations of $130m compared to $150m in the same period last year. Prior year results included a favorable impact to income tax expense of $21m related to differences in the availability of the Federal R&D Tax Credit. The company reported total sales of $1.1bn for the first quarter of 2012, which were down 1% when compared to the same period a year ago. Total segment operating earnings increased 2% to $218m for the first quarter of 2012 compared to $213m, or 19.3% of sales, for the first quarter of 2011.