
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…