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Rockwell Collins   Q1 earnings per share were $1

Rockwell Collins Q1 2016 sales $1.169 billion, 5% down

Rockwell CollinsRockwell Collins reported sales in the first quarter of fiscal year 2016 were $1.169 billion, a 5% decrease from the same period in fiscal year 2015.

First quarter fiscal year 2016 earnings per share from continuing operations were $1 compared to $1.26 in the prior year. Earnings per share from continuing operations in the first quarter of fiscal year 2016 includes a 21 cent restructuring charge.

READ MORE Rockwell Collins Q2 2014 total sales $1.27 billion

The restructuring charge relates primarily to headcount actions the company is taking as a result of certain challenging market conditions, particularly in business aviation.

During the first quarter of fiscal 2016, the Federal R&D Tax Credit was permanently reinstated retroactive to January 1, 2015, resulting in the recognition of an 18 cent retroactive benefit.

As the Federal R&D Tax Credit has been permanently reinstated, the company will also benefit from the Federal R&D Tax Credit throughout fiscal year 2016. As a result, the company is raising its earnings per share guidance by 25 cents due to the benefit of the Federal R&D Tax Credit which is partially offset by higher restructuring and incentive compensation expense.

In addition, the company is increasing its cash flow from operations guidance by $50 million for fiscal year 2016.




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