Rockwell Collins Narrows 2009 Financial Guidance

CEDAR RAPIDS, Iowa (AP) — Rockwell Collins Inc., a defense contractor and manufacturer of aircraft parts, narrowed its fiscal-year earnings guidance on Thursday, citing the weak global economy.

The company now expects to earn between $3.70 and $3.75 per share in fiscal 2009. Previously, it expected to earn between $3.70 and $3.90 per share.

Excluding a $20 million charge related to plans to cut workers and close a facility in California, the company expects to earn between $3.78 and $3.83 per share.

Rockwell also lowered its revenue guidance to $4.5 billion from $4.55 billion.

Analysts surveyed by Thomson Reuters expect, on average, $3.81 per share in earnings on $4.52 billion in revenue. Such estimates typically exclude one-time items.

In addition, Rockwell issued financial guidance for its 2010 fiscal year, saying it expects to earn between $3.35 and $3.55 per share. It forecast $4.6 billion to $4.8 billion in revenue.

"Despite continued weakness in the global economy, the balance of our business, as well as our continued use of acquisitions as a tool to profitability grow our company will enable positive revenue growth" in 2010, said CEO Clay Jones in a statement.

Excluding items, the company expects to earn between $3.80 and $4 per share. Analysts expect $3.45 per share on $4.6 billion in sales.

Shares of Rockwell Collins closed Wednesday at $48.74. The stock has traded between $27.67 and $54.83 in the last 52 weeks.