UPDATE 1-Rockwell Collins profit aided by commercial sales
* Per-share profit of $1.20 vs estimate $1.15
* Commercial sales up, government sales fall
July 19 (Reuters) - Rockwell Collins Inc reported higher-than-expected quarterly profit on Friday, as it sold more parts to commercial jet makers and benefited from share buybacks.
The supplier of avionics and other electronic systems for commercial and military aircraft is counting on commercial demand to drive growth as the United States curbs defense spending. The company's sales are roughly split 51 percent-49 percent between government sales and commercial sales.
Net income was $164 million, or $1.20 a share, for the fiscal third quarter ended June 30, compared with $166 million, or $1.14 a share, a year earlier. There were fewer shares outstanding in the latest period.
Analysts had expected profit of $1.15 a share, according to Thomson Reuters I/B/E/S.
Sales fell 3 percent to $1.17 billion. Commercial sales increased 7 percent and government system sales dropped 11 percent.
The company said it expects a full fiscal-year profit of $4.55 a share to $4.60 a share, compared with a prior range of $4.45 to $4.65 a share. Analysts currently expect $4.58 a share.