Goodrich Corp. reports an increase in third-quarter net income to $168 million, or $1.33 per diluted share, from earnings of $127 million, or 99 cents per diluted share, a year ago.
Sales grew to $1.77 billion from $1.60 billion in the third quarter of last year.
During the third quarter of 2007, Goodrich recorded an after-tax loss from discontinued operations of $13 million and a one-time gain of $22 million from a settlement. There were no similar losses or settlements in the latest quarter.
The company reported an effective tax rate of 36 percent in the latest quarter, up from 28 percent in the third quarter of 2007.
Income from continuing operations was $168 million in the latest quarter, a 20 percent increase over income from continuing operations of $140 million a year ago.
“Our strong positions on the newer, more fuel-efficient commercial airplanes have enabled us to grow our commercial aftermarket sales at rates consistently faster than the overall capacity in the global airline system, a trend which we expect to sustain going forward,” says Marshall Larsen, chief executive direct payday loan cash advance.
Goodrich is raising its earnings outlook for 2008 to between $4.90 and $5 per diluted share, up from its previous forecast of $4.80 to $4.95 per diluted share.
In 2007, Goodrich earned $3.79 per diluted share.
The Charlotte-based company (NYSE:GR) says it expects sales growth of between eight and 10 percent next year. Goodrich also forecasts that income from continuing operations will increase by as much as 10 percent in 2009.
Goodrich is a global supplier of systems and services to the aerospace and defense industries.
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