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Business/Financial

Defense Business Weighs On Rockwell Collins In First Quarter

By Cal Biesecker

Friday, January 22nd, 2016

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Defense Business Weighs On Rockwell Collins In First Quarter

Rockwell Collins Chairman, President and CEO Kelly Ortberg. Photo: Rockwell Collins

Rockwell Collins [COL] on Friday posted lower earnings and sales in the first quarter of its fiscal year 2016 primarily due to declines in its defense work and a restructuring charge related to difficult conditions in the business aviation market.The company blamed the weaker than expected results in its Government Systems business on the timing of some orders and a “supplier quality issue” that impacted planned deliveries of communications products in the quarter.Net income tumbled 19 percent to $135 million,…

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