These long-term growth drivers, coupled with our consistent track record of effectively managing through dynamic market cycles, give me confidence there's a bright future ahead for Rockwell Collins.
So with that, let me turn the call over to Patrick to walk through the financial details. Pat?
Patrick E. Allen
Thanks, Clay. Good morning to everyone as well. I'd now like to walk you through today's presentation slides that summarize our results for the first quarter of 2012.I'll begin on Slides 3 and 4 where we highlight our total company first quarter sales, EPS, net income and operating cash flow.Total company sales for the quarter decreased $10 million or 1% compared to last year's sales, while income from continuing operations and earnings per share decreased by 13% and 10%, respectively. The decrease in earnings was primarily driven by a higher effective tax rate, which went from 21.5% last year, up to 33% in 2012.Read the rest of this transcript for free on seekingalpha.com
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV