COL » Topics » Commercial Systems Segment Operating Earnings

These excerpts taken from the COL 10-K filed Nov 25, 2008.

Commercial Systems' Segment Operating Earnings:

(dollars in millions)
  2008   2007   2006  

Segment operating earnings

  $ 560   $ 485   $ 370  

Percent of sales

    23.3 %   22.2 %   20.3 %

        Commercial Systems' operating earnings increased $75 million, or 15 percent, to $560 million, or 23.3 percent of sales, in 2008 compared to $485 million, or 22.2 percent of sales, in 2007. The increase in operating earnings and operating margin was primarily due to higher revenues, productivity improvements, and lower employee incentive compensation costs, partially offset by higher research and development costs.

        Commercial Systems' operating earnings increased $115 million, or 31 percent, to $485 million, or 22.2 percent of sales, in 2007 compared to $370 million, or 20.3 percent of sales, in 2006. The increase in operating earnings and operating margin was primarily due to the combination of higher organic revenues, productivity improvements, and lower retirement benefit costs, partially offset by higher employee incentive compensation costs and research and development costs.

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Commercial Systems' Segment Operating Earnings:























































(dollars in millions)
 2008  2007  2006  

Segment operating earnings

 $560 $485 $370 

Percent of sales

  23.3% 22.2% 20.3%




        Commercial
Systems' operating earnings increased $75 million, or 15 percent, to $560 million, or 23.3 percent of sales, in 2008 compared to
$485 million, or 22.2 percent of sales, in 2007. The increase in operating earnings and operating margin was primarily due to higher revenues, productivity improvements, and lower
employee incentive compensation costs, partially offset by higher research and development costs.



        Commercial
Systems' operating earnings increased $115 million, or 31 percent, to $485 million, or 22.2 percent of sales, in 2007 compared to
$370 million, or 20.3 percent of sales, in 2006. The increase in operating earnings and operating margin was primarily due to the combination of higher organic revenues, productivity
improvements, and lower retirement benefit costs, partially offset by higher employee incentive compensation costs and research and development costs.



29










This excerpt taken from the COL 10-Q filed Apr 25, 2007.

Commercial Systems’ Segment Operating Earnings

(dollars in millions)

 

     Six Months Ended
March 31
 
     2007     2006  

Segment operating earnings

   $ 236     $ 164  

Percent of sales

     22.8 %     19.2 %

Commercial Systems’ operating earnings increased $72 million, or 44 percent, to $236 million, or 22.8 percent of sales, compared to $164 million, or 19.2 percent of sales, for the six months ended March 31, 2006. The increase in operating earnings and operating margin was primarily due to the combination of higher organic revenues, productivity improvements, and lower retirement benefit costs, partially offset by higher research and development costs.

This excerpt taken from the COL 10-Q filed Jan 25, 2007.

Commercial Systems’ Segment Operating Earnings

 

(dollars in millions)   

Three Months Ended

December 31

 
     2006     2005  

Segment operating earnings

   $ 114     $ 78  

Percent of sales

     23.2 %     19.1 %

Commercial Systems’ operating earnings increased 46 percent to $114 million, or 23.2 percent of sales, for the three months ended December 31, 2006 compared to operating earnings of $78 million, or 19.1 percent of sales for the three months ended December 31, 2005. The increase in operating earnings and operating margin was primarily due to the combination of higher organic revenues, productivity improvements, lower retirement benefit costs, and lower research and development costs as a percent of sales, partially offset by certain unfavorable contract reserve adjustments.

This excerpt taken from the COL 10-K filed Nov 13, 2006.

Commercial Systems’ Segment Operating Earnings:

 

(dollars in millions)

 

   2006     2005     2004  

Segment operating earnings

   $ 370     $ 296     $ 200  

Percent of sales

     20.3 %     18.1 %     14.3 %

Commercial Systems’ operating earnings increased $74 million, or 25 percent, to $370 million, or 20.3 percent of sales, in 2006 compared to $296 million, or 18.1 percent of sales, in 2005. These significant increases were due primarily to the combination of increased sales volume, productivity improvements, and lower employee incentive compensation costs which more than offset higher research and development and pension costs.

Commercial Systems’ operating earnings increased $96 million, or 48 percent, to $296 million, or 18.1 percent of sales, in 2005 compared to $200 million, or 14.3 percent of sales, in 2004. These significant increases were due primarily to the combination of increased sales volume, including higher margin aftermarket revenues, and cost containment and operational efficiency initiatives, which more than offset higher research and development and employee incentive compensation costs.

This excerpt taken from the COL 10-Q filed Jul 27, 2006.

Commercial Systems’ Segment Operating Earnings

 

(dollars in millions)

 

   Nine Months Ended
June 30
 
   2006     2005  

Segment operating earnings

   $ 264     $ 224  

Percent of sales

     20.0 %     18.6 %

Commercial Systems’ operating earnings increased $40 million, or 18 percent, to $264 million, or 20.0 percent of sales, compared to $224 million, or 18.6 percent of sales, for the nine months ended June 30, 2005. The higher operating earnings and operating margin were a result of the combination of higher sales, productivity improvements, and a lower proportion of lower margin in-flight entertainment systems revenues. These improvements were partially offset by higher research and development expenditures and a decline in higher margin regulatory mandate revenues compared to the prior year.

 

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Table of Contents
This excerpt taken from the COL 10-Q filed Apr 26, 2006.

Commercial Systems’ Segment Operating Earnings

 

(dollars in millions)    Six Months Ended
March 31
 
     2006     2005  

Segment operating earnings

   $ 164     $ 145  

Percent of sales

     19.2 %     18.7 %

Commercial Systems’ operating earnings increased $19 million, or 13 percent, to $164 million, or 19.2 percent of sales, compared to $145 million, or 18.7 percent of sales, for the six months ended March 31, 2005. This increase is due primarily to the combination of increased sales volume, productivity improvements, and lower incentive compensation costs which more than offset higher research and development expenditures, higher pension costs, and a decline in higher margin regulatory mandate revenues compared to the prior year.

 

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Table of Contents
This excerpt taken from the COL 10-Q filed Jan 26, 2006.

Commercial Systems’ Segment Operating Earnings

 

(dollars in millions)

 

   Three Months Ended
December 31


 
   2005

    2004

 

Segment operating earnings

   $ 78     $ 72  

Percent of sales

     19.1 %     19.3 %

 

Commercial Systems’ operating earnings increased 8 percent to $78 million, or 19.1% of sales, for the three months ended December 31, 2005 compared to operating earnings of $72 million, or 19.3% of sales for the three months ended December 31, 2004. The increase in segment operating earnings is attributable primarily to the increase in sales volume and lower incentive compensation costs, offset by higher research and development expenditures related to a number of new aircraft positions and higher pension costs, resulting in comparable operating margins compared to the prior year.

 

This excerpt taken from the COL 10-K filed Nov 21, 2005.

Commercial Systems’ Segment Operating Earnings:

 

(dollars in millions)

 

   2005

    2004

    2003

 

Segment operating earnings

   $ 296     $ 200     $ 137  

Percent of sales

     18.1 %     14.3 %     10.8 %

 

Commercial Systems’ operating earnings increased $96 million, or 48 percent, to $296 million, or 18.1 percent of sales, compared to $200 million, or 14.3 percent of sales, in 2004. These significant increases were due primarily to the combination of increased sales volume, including higher margin aftermarket revenues, and cost containment and operational efficiency initiatives, which more than offset higher research and development and employee incentive compensation costs.

 

Commercial Systems operating earnings increased 46 percent, or $63 million, in 2004 compared to 2003. In addition, operating earnings as a percentage of sales increased from 10.8 percent in 2003 to 14.3 percent in 2004. The higher sales volume combined with the effects of cost containment and productivity improvement initiatives were the primary factors contributing to the improvement in 2004 over 2003. In addition, improving in-flight entertainment profitability as a result of lower product warranty costs and lower contract loss reserves contributed to the improvement.

 

This excerpt taken from the COL 10-Q filed Jul 28, 2005.

Commercial Systems’ Segment Operating Earnings

 

     Nine Months Ended
June 30


 

(dollars in millions)

 

   2005

    2004

 

Segment operating earnings

   $ 224     $ 141  

Percent of sales

     18.6 %     13.9 %

 

Commercial Systems’ operating earnings increased $83 million, or 59 percent, to $224 million, or 18.6 percent of sales, compared to $141 million, or 13.9 percent of sales, for the nine months ended June 30, 2004. These significant increases were due primarily to the combination of increased sales volume, including higher margin aftermarket revenues, cost containment and operational efficiency initiatives which more than offset higher research and development and employee incentive compensation costs.

 

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Table of Contents
This excerpt taken from the COL 10-Q filed Apr 27, 2005.

Commercial Systems’ Segment Operating Earnings

 

     Six Months Ended
March 31


 

(dollars in millions)

 

   2005

    2004

 

Segment operating earnings

   $ 145     $ 88  

Percent of sales

     18.7 %     13.4 %

 

Commercial Systems’ operating earnings increased $57 million, or 65 percent, to $145 million, or 18.7 percent of sales, compared to $88 million, or 13.4 percent of sales, for the six months ended March 31, 2004. These significant increases were due primarily to the combination of increased sales volume, including higher margin aftermarket revenues, and the continuing impact of cost containment and operational efficiency initiatives which more than offset higher research and development expenditures.

 

This excerpt taken from the COL 10-Q filed Jan 26, 2005.

Commercial Systems’ Segment Operating Earnings

 

(dollars in millions)

 

    

Three Months Ended

December 31


 
     2004

    2003

 

Segment operating earnings

   $ 72     $ 42  

Percent of sales

     19.3 %     13.2 %

 

Commercial Systems’ operating earnings increased $30 million, or 71 percent, to $72 million, or 19.3 percent of sales, compared to $42 million, or 13.2 percent of sales, for the three months ended December 31, 2003. These significant increases were due primarily to the combination of higher sales, a favorable mix of higher margin aftermarket revenues, and enhanced operating efficiencies.

 

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