Rockwell Collins sales up 3 percent for quarter

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Rockwell Collins Inc. on Monday reported third quarter fiscal year earnings per share from continuing operations increased 23 percent to $1.63 compared to $1.33 in the prior year. Total sales in the third quarter of fiscal year 2016 were $1.33 billion, a 3 percent increase from the same period in fiscal year 2015. The Cedar Rapids-based aeronautics company also narrowed its fiscal 2016 financial outlook. Total sales are now expected to be about $5.3 billion, down from an earlier estimated $5.4 billion, and earnings per share are now expected in the range of $5.50 to $5.55. CEO Kelly Ortberg said restructuring actions announced in the first quarter are delivering the savings anticipated, but lower than expected aircraft production rates and support sales will bring its commercial systems sales down about 1 percent for the year.