UPDATE: Rockwell Collins Reports Decline In Q1 Net Income

Rockwell Collins

reported a decline in its first-quarter net income. Rockwell Collins' quarterly net income dropped to $130 million, or $0.86 per share, from $151 million, or $0.96 per share, in the year-earlier period. Its sales fell 1% to $1.09 billion. However, analysts were expecting earnings of $0.84 per share on revenue of $1.09 billion. For 2012, Rockwell Collins stuck to its profit forecast of $4.40 to $4.60 per share, versus analysts' estimates of $4.46 per share. Rockwell Collins shares closed at $56.84 yesterday.