Jul 22, 2013

Posted by in Featured, Stock Market News | 0 Comments

Movers and Shakers: Rockwell Collins Inc.’s (NYSE:COL) and Interpublic Group Of Cos.’s (NYSE:IPG)

Movers and Shakers: Rockwell Collins Inc.’s (NYSE:COL) and Interpublic Group Of Cos.’s (NYSE:IPG)

Rockwell Collins Inc.’s (NYSE:COL) announced that its fiscal third-quarter profit plunged back 1.2% as softness in the government-systems business pushed results lower.

The firm cut back its complete year outlook, now predicting per-share earnings of $4.55 to $4.60 on revenue of $4.65 billion, from its former estimation of $4.45 to $4.65 per share and $4.6 billion to $4.7 billion.

For the quarter concluded on June 30, Rockwell declared a profit of $164 million, lower as compared to $166 million a year ago. On a per-share basis, earnings came up at $1.20 against $1.14 due partially to share buyback. Sales plunged down 3.3% to $1.17 billion.

Experts surveyed by Thomson Reuters had most lately estimated earnings of $1.15 a share on revenue of $1.17 billion.

Interpublic Group Of Cos.’s (NYSE:IPG) announced that its second-quarter earnings moved lower 18%, coming short of expert targets, as superior costs at the advertising company outweighed an increase in revenue.

Interpublic declared a profit of $82.8 million as compared to $101.9 million a year earlier. On a per-share basis, which consists of the impact of preferred dividends, earnings came in 18 cents in contrast with 22 cents a year ago same quarter. Experts surveyed by Thomson Reuters had most lately estimated earnings of 22 cents on revenue of $1.75 billion.

Operating margin declined to 10% as compared to 10.3% as operating costs rose 2.7%.

The firm’s US revenue, its biggest top-line contributor, increased 4.8%, while international revenue moved lower 0.7%.

Comments are closed.