Rockwell Collins reports third quarter financial results

Rockwell Collins has reported sales for the third quarter of fiscal year 2017 of US$2.094bn, a 57% increase from the same period in fiscal year 2016, or 5% growth excluding US$695m of revenue from the acquisition of B/E Aerospace. Third quarter fiscal year 2017 earnings per share from continuing operations was US$1.12 compared to US$1.63 in the prior year. Adjusted earnings per share for the third quarter fiscal year 2017 was US$1.64 compared to US$1.67 in the prior year. Earnings per share and adjusted earnings per share for the third quarter of fiscal year 2016 included a 31 cent income tax benefit from the release of a valuation allowance related to a U.S. capital loss carryforward. Cash provided by operating activities for the nine months ended June 30, 2017 was US$416m, an 87% increase from the same period in the prior year.