Rockwell International’s Net Up 2% in 3rd Quarter
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Rockwell International said its third-quarter profit edged higher by 2% to $163.3 million on revenue that rose by 7% to $3.1 billion. A year ago, the company reported net income of $160.2 million on revenue of $2.9 billion.
The performance was consistent with management’s earlier prediction of somewhat improved earnings for the full year, said Robert Anderson, chairman.
Profits for the first nine months of the company’s fiscal year declined 1% to $449.4 million, compared to $455.3 million in the 1985 period. Revenue rose nearly 10% to $9 billion from $8.2 billion.
Quarterly earnings in the company’s aerospace business rose primarily due to increased production of the B-1B bomber. Growth in defense electronics and higher profit margins contributed to quarterly improvements in the electronics segment, the Pittsburgh-based company said.
Despite the sale of 40% of Rockwell’s vehicle suspension business, automotive earnings declined because of fewer sales in the heavy truck market.
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