Spirit AeroSystems reports third quarter 2015 revenues of US$1.6bn

Spirit AeroSystems reported third quarter financial results driven by positive operating performance of mature programs. Spirit’s third quarter 2015 revenues were US$1.6bn, down 6% compared to the same period of 2014 primarily due to the Gulfstream wing divestiture and lower revenues recognized on the 787 program. Operating income was US$192m, down from US$216m for the same period in 2014. Net income for the quarter was US$314m, compared to net income of US$168m in the same period of 2014. The current quarter includes US$1.35 earnings per share for the release of the majority of the deferred tax valuation allowance compared to $0.30 earnings per share for the same period of 2014.