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Sales Up, Earnings Down At Rockwell Collins In Second Quarter

Cal Biesecker By
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Sales Up, Earnings Down At Rockwell Collins In Second Quarter
Rockwell Collins AN/TSC-167F satellite transportable terminal. Photo: Rockwell Collins

Rockwell Collins [COL] on Thursday posted lower net income despite a rise in sales as higher taxes more than wiped out a gain in operating earnings. Net income slipped 8 percent to $148 million, $1.08 earnings per share (EPS), from $161 million ($1.17 EPS), due to the expiration of the federal research and development tax credit in December 2013, which added $31 million (22 cents EPS) to the results a year ago, and higher interest expense. Excluding $1 million in…

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