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4-Traders Homepage  >  Equities  >  Nyse  >  Rockwell Collins, Inc.    COL

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Rockwell Collins : 100 pickets mark Rockwell Collins cutbacks

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01/21/2017 | 02:02am CET

Jan. 21--CEDAR RAPIDS -- More than 100 informational pickets, members of the International Brotherhood of Electrical Workers 1362, gathered near Rockwell Collins facilities on C Avenue NE Friday afternoon to draw attention to 63 custodians being let go from the aviation and communications giant.

The job cutbacks were related to outsourcing those services and not part of the Cedar Rapids-based company's announcement in October that it would eliminate jobs across its global workforce in response to a slowdown in the business jet market and cost-saving measures by airlines, Rockwell spokesman Josh Baynes said on Friday.

"While we respect the right of our employees and others to voice their opinions, Rockwell Collins has been engaged in an ongoing dialogue with IBEW Local 1362 about this matter in good faith, and in full compliance with the current collective bargaining agreement, since October of 2016," Baynes said.

IBEW officials did not respond to a request for comment.

On Friday morning, Rockwell released sales figures for its first quarter in fiscal year 2017 of $1.2 billion. That is a two percent bump over the same three-month period of last year.

"First quarter sales were as anticipated with solid growth in our Government Systems and Information Management Services segments as well as a decline in Commercial Systems sales due to headwinds from lower business jet and aftermarket sales," Rockwell Collins Chairman, President and CEO Kelly Ortberg said in news release.

"We are making good progress with our pending acquisition of (Flordia-based) B/E Aerospace, which will strengthen our position as a leading supplier of cockpit and cabin solutions," he added.

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(c)2017 The Gazette (Cedar Rapids, Iowa)

Visit The Gazette (Cedar Rapids, Iowa) at thegazette.com

Distributed by Tribune Content Agency, LLC.

© Tribune Content Agency, source Regional News

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Financials ($)
Sales 2017 5 380 M
EBIT 2017 1 070 M
Net income 2017 711 M
Debt 2017 1 336 M
Yield 2017 1,51%
P/E ratio 2017 16,90
P/E ratio 2018 15,83
EV / Sales 2017 2,47x
EV / Sales 2018 2,31x
Capitalization 11 931 M
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Mean consensus OUTPERFORM
Number of Analysts 19
Average target price 97,6 $
Spread / Average Target 6,8%
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NameTitle
Robert Kelly Ortberg Chairman, President & Chief Executive Officer
Bruce Michael King Senior Vice President-Operations
Patrick E. Allen Chief Financial Officer & Senior Vice President
Nan Mattai Senior VP-Engineering & Information Technology
Chris A. Davis Independent Director
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