Rockwell Collins reports 2013 earnings per share increased to $4.58

Rockwell Collins reported fiscal year 2013 earnings per share of $4.58, an increase of 10% from 2012. Total company sales for fiscal year 2013 were $4.61bn, a 2% decline from last year. The lower sales volume was driven by an 8% decrease in Government Systems sales, partially offset by a 4% increase in Commercial Systems sales. Cash provided by operating activities for fiscal year 2013 totaled $617m, an increase of 16% compared to $534m last year. Fourth quarter fiscal year 2013 earnings per share increased to $1.28 compared to $1.06 in the same quarter last year as the company continued to execute its capital deployment strategy through its share repurchase program. The fourth quarter of 2013 benefited from the absence of a restructuring and asset impairment charge in 2012 partially offset by higher employee incentive compensation costs in 2013. The company reported sales of $1.25bn for the fourth quarter of 2013, a decrease of 1%, compared to sales of $1.27bn for the same period a year ago.