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Rockwell Collins Opens Fiscal Year With Flat Sales, Lower Earnings

Defense Daily Staff Defense Daily Staff
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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…

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