June 18, 2014
/PRNewswire/ -- United Technologies Corp. (NYSE: UTX) today announced Sikorsky Aircraft Corp.'s signing of a contract amendment with the Government of
on the Canadian Maritime Helicopter Program, pursuant to the previously disclosed Principles of Agreement. The amended contract enables
Department of National Defense to take delivery of operationally relevant CH148 Cyclone helicopters and facilitates retirement of the Sea King fleet starting in 2015.
As a result of the amended agreement, Sikorsky will record sales of approximately
and a charge of
in the second quarter of 2014 reflecting the cumulative effect of progress to date toward completion of the program, as modified. UTC anticipates the second quarter charge will be offset by one-time gains during the course of 2014 and will have no effect on earnings per share for the year. Accordingly, UTC continues to expect 2014 earnings per share in the range of
$6.65 to $6.85
, as previously communicated.
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