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Rockwell Collins profit misses consensus by 29.4% in fiscal Q3

Rockwell Collins Inc. said its normalized net income for the fiscal third quarter ended June 30 amounted to $1.11 per share, compared with the S&P Capital IQ consensus estimate of $1.58 per share.

EPS decreased 5.1% year over year from $1.17.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $178.1 million, a gain of 15.4% from $154.4 million in the prior-year period.

The normalized profit margin dropped to 8.5% from 11.6% in the year-earlier period.

Total revenue climbed 57.0% on an annual basis to $2.09 billion from $1.33 billion, and total operating expenses climbed 61.9% year over year to $1.74 billion from $1.07 billion.

Reported net income declined 16.4% from the prior-year period to $179.1 million, or $1.12 per share, from $214.3 million, or $1.63 per share.