Rockwell Collins Reports Third Quarter Financial Results

CEDAR RAPIDS, Iowa--(BUSINESS WIRE)--Rockwell Collins, Inc. (NYSE: COL) today reported sales for the third quarter of fiscal year 2017 of $2.094 billion, a 57% increase from the same period in fiscal year 2016, or 5% growth excluding $695 million of revenue from the acquisition of B/E Aerospace. Third quarter fiscal year 2017 earnings per share from continuing operations was $1.12 compared to $1.63 in the prior year. Adjusted earnings per share for the third quarter fiscal year 2017 was $1.64 compared to $1.67 in the prior year (see the supplemental schedule in this press release for a reconciliation between GAAP earnings per share and adjusted earnings per share). Earnings per share and adjusted earnings per share for the third quarter of fiscal year 2016 included a 31 cent income tax benefit from the release of a valuation allowance related to a U.S. capital loss carryforward. Cash provided by operating activities for the nine months ended June 30, 2017 was $416 million, an 87% increase from the same period in the prior year.