Rockwell Collins [COL] yesterday said its first quarter sales were relatively flat while net income tumbled 14 percent due to a higher tax rate. Net income in the FY ’12 first quarter was $130 million, 86 cents earnings per share (EPS), versus $151 million (96 cents EPS) a year ago. The drop was due to a higher effective federal tax rate, which could eventually drop if Congress reinstates the research and development tax credit for 2012. Earnings still beat consensus…
Rockwell Collins Opens Fiscal Year With Flat Sales, Lower Earnings
Defense Daily Staff
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