This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

Rockwell Collins Reports First Quarter 2013 Earnings Per Share Increase 9% To $0.94

Stocks in this article: COL

Rockwell Collins, Inc. (NYSE: COL) today reported first quarter fiscal year 2013 net income of $132 million, an increase of 2%, compared to the same period last year. Earnings per share for the quarter were $0.94, $0.08 higher than earnings per share of $0.86 in the prior year. Earnings per share growth was higher than the rate of net income growth due to the favorable effect of the company's share repurchase program.

The company reported total sales of $1.06 billion for the first quarter of 2013, a 3% reduction from $1.09 billion for the same period in 2012. Meanwhile, total segment operating margins increased in the first quarter of 2013 to 20.1 percent of sales compared to 19.9 percent of sales in 2012.

Cash provided by operating activities for the first quarter of 2013 totaled $63 million, an increase of $127 million, compared to a $64 million use of cash in the first quarter of last year. The improvement in cash from operations was primarily driven by increased collections from customers, improved inventory performance and lower employee incentive compensation payments.

"I am very pleased with our results this quarter, which generated 9% EPS growth and strong cash flow on declining sales," said Rockwell Collins Chairman and Chief Executive Officer, Clay Jones. "Despite continued government and economic uncertainty, our focus on the things we can control such as costs, capital deployment, and investments are paying off. For example, in the first quarter, we expanded operating margins, reduced our share count by 4%, and won a number of programs to enhance future growth."

Jones went on to state, "We are off to a solid start in this year of transition for our company and should see improving performance throughout the year. Fortunately, we had already incorporated the impact of sequestration in our annual guidance and expect a greater benefit from our FY12 restructuring actions in subsequent quarters as well. Therefore, we are increasingly confident that we can meet or exceed our financial expectations."

1 of 5

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • 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 Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,828.24 +0.49 0.00%
S&P 500 2,067.56 -5.27 -0.25%
NASDAQ 4,791.63 +4.3130 0.09%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs