COL » Topics » Government Systems Segment Operating Earnings

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

Government Systems' Segment Operating Earnings:

(dollars in millions)
  2008   2007   2006  

Segment operating earnings

  $ 486   $ 441   $ 402  

Percent of sales

    20.5 %   19.8 %   19.7 %

        Government Systems' operating earnings increased $45 million, or 10 percent, in 2008 compared to 2007 primarily due to the combination of higher sales, productivity improvements, and lower employee incentive compensation costs, partially offset by the absence of net favorable contract adjustments benefiting 2007.

        Government Systems' operating earnings increased $39 million, or 10 percent, in 2007 compared to 2006 primarily due to the combination of higher sales, productivity improvements, net favorable contract adjustments, and lower retirement benefit costs, partially offset by higher incentive compensation and research and development costs.

Government Systems' Segment Operating Earnings:























































(dollars in millions)
 2008  2007  2006  

Segment operating earnings

 $486 $441 $402 

Percent of sales

  20.5% 19.8% 19.7%




        Government
Systems' operating earnings increased $45 million, or 10 percent, in 2008 compared to 2007 primarily due to the combination of higher sales, productivity
improvements, and lower employee incentive compensation costs, partially offset by the absence of net favorable contract adjustments benefiting 2007.



        Government
Systems' operating earnings increased $39 million, or 10 percent, in 2007 compared to 2006 primarily due to the combination of higher sales, productivity
improvements, net favorable contract adjustments, and lower retirement benefit costs, partially offset by higher incentive compensation and research and development costs.



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

Government Systems’ Segment Operating Earnings

(dollars in millions)

 

     Six Months Ended
March 31
 
     2007     2006  

Segment operating earnings

   $ 209     $ 193  

Percent of sales

     20.1 %     19.6 %

Government Systems’ operating earnings increased $16 million, or 8 percent, for the six months ended March 31, 2007, compared to the same period a year ago. The higher operating earnings and operating margin were principally due to a combination of the higher revenues, productivity improvements, net favorable contract profit rate adjustments, and lower retirement benefit costs, partially offset by higher company-funded research and development costs.

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

Government Systems’ Segment Operating Earnings

 

(dollars in millions)   

Three Months Ended

December 31

 
     2006     2005  

Segment operating earnings

   $ 102     $ 93  

Percent of sales

     20.4 %     19.7 %

Government Systems’ operating earnings increased 10 percent to $102 million, or 20.4 percent of sales, for the three months ended December 31, 2006 compared to operating earnings of $93 million, or 19.7 percent of sales, for the same period a year ago. The higher operating earnings and operating margin were principally due to net favorable contract profit rate adjustments, productivity improvements, and lower retirement benefit costs, partially offset by higher company-funded research and development costs.

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

Government Systems’ Segment Operating Earnings:

 

(dollars in millions)

 

   2006     2005     2004  

Segment operating earnings

   $ 402     $ 328     $ 282  

Percent of sales

     19.7 %     18.1 %     18.4 %

Government Systems’ operating earnings increased $74 million, or 23 percent, in 2006 compared to 2005 due primarily to increased sales volume. Government Systems’ operating earnings as a percent of sales for 2006 was 19.7 percent compared with 18.1 percent for 2005. Operating margins were impacted by productivity improvements and lower employee incentive compensation costs partially offset by higher pension costs and the impact of incremental lower margin revenues from our TELDIX and E&S Simulation Business acquisitions.

Government Systems’ operating earnings increased $46 million, or 16 percent, in 2005 compared to 2004 due primarily to increased sales volume. Government Systems’ operating earnings as a percent of sales for 2005 was 18.1 percent compared with 18.4 percent for 2004. Operating margins were impacted by cost containment and operational efficiency initiatives offset by increased employee incentive compensation costs and incremental lower margin sales from Rockwell Collins Simulation and Training Solutions and TELDIX.

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

Government Systems’ Segment Operating Earnings

 

(dollars in millions)

 

   Nine Months Ended
June 30
 
   2006     2005  

Segment operating earnings

   $ 292     $ 228  

Percent of sales

     19.7 %     17.8 %

Government Systems’ operating earnings increased $64 million, or 28 percent, for the nine months ended June 30, 2006, compared to the same period a year ago. The higher operating earnings and operating margin were primarily attributable to the combination of the higher sales, productivity improvements, and a more favorable proportion of higher margin production revenues partially offset by higher discretionary research and development expenditures and lower margin incremental TELDIX revenues.

 

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

Government Systems’ Segment Operating Earnings

 

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

Segment operating earnings

   $ 193     $ 146  

Percent of sales

     19.6 %     17.9 %

Government Systems’ operating earnings increased $47 million, or 32 percent, for the six months ended March 31, 2006, compared to the same period a year ago primarily due to increased sales volume. The higher operating earnings and operating margin were attributable to the combination of the higher sales and lower operating expenses as a percent of sales primarily as a result of productivity improvements and lower incentive compensation costs. These improvements more than offset the impact of higher pension costs and lower margin TELDIX revenues.

 

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

Government Systems’ Segment Operating Earnings

 

(dollars in millions)

 

   Three Months Ended
December 31


 
   2005

    2004

 

Segment operating earnings

   $ 93     $ 70  

Percent of sales

     19.7 %     17.9 %

 

Government Systems’ operating earnings increased 33 percent to $93 million, or 19.7% of sales, for the three months ended December 31, 2005 compared to operating earnings of $70 million, or 17.9% of sales, for the same period a year ago. The higher operating earnings and operating margin were attributable to the combination of the higher sales and lower operating expenses as a percent of sales primarily as a result of operational efficiencies gained from enhanced engineering resource utilization and lower incentive compensation costs. These improvements more than offset the impact of higher pension costs and lower margin TELDIX revenues.

 

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

Government Systems’ Segment Operating Earnings:

 

(dollars in millions)

 

   2005

    2004

    2003

 

Segment operating earnings

   $ 328     $ 282     $ 250  

Percent of sales

     18.1 %     18.4 %     19.7 %

 

Government Systems’ operating earnings increased $46 million, or 16 percent, in 2005 compared to 2004 due primarily to increased sales volume. Government Systems’ operating earnings as a percent of sales for 2005 was 18.1 percent compared with 18.4 percent for 2004. Operating margins were impacted by cost containment and operational efficiency initiatives offset by increased employee incentive compensation costs and incremental lower margin sales from Rockwell Collins Simulation and Training Solutions and TELDIX.

 

Government Systems operating earnings increased $32 million, or 13 percent, in 2004 compared to 2003 due primarily to increased sales volumes. The decrease in operating earnings as a percent of sales in 2004 compared to 2003 is primarily the result of lower margin sales from Rockwell Collins Simulation and Training Solutions as well as increased sales from lower margin development contracts such as those for the JTRS, JSF, and FCS programs. These decreases were partially offset by incurring lower company-funded R&D and lower operating expenses as a percent of sales as the growth in sales volume outpaced the moderate growth in marketing and other operating expenses.

 

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

Government Systems’ Segment Operating Earnings

 

(dollars in millions)

 

   Nine Months Ended
June 30


 
   2005

    2004

 

Segment operating earnings

   $ 228     $ 201  

Percent of sales

     17.8 %     18.7 %

 

Government Systems’ operating earnings increased $27 million, or 13 percent, for the nine months ended June 30, 2005, compared to the same period a year ago primarily due to increased sales volume. As expected, Government Systems’ operating earnings as a percent of sales for the nine months ended June 30, 2005 decreased to 17.8 percent compared with 18.7 percent for the same period a year ago. The decrease in operating margins was due primarily to the impact of incremental lower margin sales from Rockwell Collins Simulation and Training Solutions and TELDIX.

 

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

Government Systems’ Segment Operating Earnings

 

     Six Months Ended
March 31


 

(dollars in millions)

 

   2005

    2004

 

Segment operating earnings

   $ 146     $ 132  

Percent of sales

     17.9 %     19.2 %

 

Government Systems’ operating earnings increased $14 million, or 11 percent, for the six months ended March 31, 2005, compared to the same period a year ago primarily due to increased sales volume. As expected, Government Systems’ operating earnings as a percent of sales for the six months ended March 31, 2005 decreased to 17.9 percent compared with 19.2 percent for the same period a year ago. The prior year operating margin for the six months ended March 31, 2004 benefited from favorable performance on various production programs, the absence of a full six months of lower margin Rockwell Collins Simulation and Training Solutions revenues and lower incentive compensation costs.

 

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

Government Systems’ Segment Operating Earnings

 

(dollars in millions)

 

    

Three Months Ended

December 31


 
     2004

    2003

 

Segment operating earnings

   $ 70     $ 63  

Percent of sales

     17.9 %     20.3 %

 

Government Systems’ operating earnings increased $7 million, or 11 percent, for the three months ended December 31, 2004, compared to the same period a year ago primarily due to increased sales volume. As expected, Government Systems’ operating earnings as a percent of sales for the three months ended December 31, 2004 decreased to 17.9 percent compared with 20.3 percent for the same period a year ago. The prior year first quarter operating margin benefited from favorable performance on various production programs as well as the absence of the incremental lower margin RCSTS revenues.

 

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