CEDAR RAPIDS, Iowa (AP) — Aviation and military electronics maker Rockwell Collins projected its fiscal 2014 earnings and revenue, and it was below Wall Street's expectations.
The company said Friday that it foresees full-year earnings from continuing operations between $4.30 and $4.50 per share. It expects revenue in a range of $4.5 billion to $4.6 billion.
Analysts polled by FactSet expect earnings of $4.83 per share on revenue of $4.97 billion.
Rockwell Collins said that its outlooks exclude the impact of its planned acquisition of ARINC. The Cedar Rapids, Iowa, company expects to update its guidance once the deal closes.
President and CEO Kelly Ortberg said in a statement that fiscal 2014 is expected to have market conditions similar to this year and assumes that the automatic spending cuts known as sequestration are going to be permanent.
Rockwell Collins Inc. also maintained its fiscal 2013 outlook for earnings between $4.55 and $4.60 per share, with revenue of about $4.65 billion. Wall Street anticipates earnings of $4.61 per share on revenue of $4.64 billion.
Its shares finished at $74.28 on Thursday.