Spirit AeroSystems reports fourth quarter and full-year 2015 financial results

Spirit AeroSystems reported fourth quarter and full-year 2015 financial results driven by strong operating performance of mature programs. Spirit’s fourth quarter 2015 revenues were US$1.61bn, up 2% from revenues of US$1.57bn for the same period of 2014, primarily due to higher revenues on the A350 XWB program driven by higher production deliveries. Operating income for the fourth quarter of 2015 was US$206m compared to operating loss of (US$273)m in the fourth quarter of 2014 primarily due to the Gulfstream divestiture. Net income for the quarter was US$138m compared to net loss of (US$106)m in the same period of 2014. Revenue for the full-year 2015 declined 2% percent to US$6.6bn primarily due to the Gulfstream wing divestiture and lower revenues recognized on the 787 program. Operating income for the full-year was US$863m compared to operating income of US$354m for the prior year. Full-year net income was US$789m, compared to net income of US$359m in 2014.