Spirit AeroSystems' full year net income down 12%

Spirit released that operating income for the fourth quarter 2011 was $102m, compared to $96m for the same period in 2010, primarily driven by increased production volumes, partially offset by the charges recorded on development programs. Net income for the quarter was $60m compared to $62m in the same period of 2010. Revenue for the full-year 2011 increased 17% to $4.864bn. Operating income for the full-year was $356m. Full-year net income decreased 12% to $192m compared to $219m in 2010.