Rockwell Collins misses 1Q profit forecasts

Rockwell Collins on Friday reported fiscal first-quarter net income of $167 million.

The Cedar Rapids, Iowa-based company said it had profit of $1.24 per share. Earnings, adjusted for non-recurring gains, were $1.10 per share.

The results fell short of Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $1.12 per share.

The aviation electronics company posted revenue of $1.23 billion in the period, surpassing Street forecasts. Analysts expected $1.22 billion, according to Zacks.

Rockwell Collins expects full-year earnings to be $5.10 to $5.30 per share, with revenue in the range of $5.2 billion to $5.3 billion.

Rockwell Collins shares have climbed 3 percent since the beginning of the year, while the Standard & Poor's 500 index has stayed nearly flat. The stock has climbed nearly 10 percent in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on COL at http://www.zacks.com/ap/COL.