Spirit AeroSystems reported first quarter 2016 financial results driven by strong operating performance of mature programs. Spirit’s first quarter 2016 revenues were US$1.7bn, down 3% compared to the same period of 2015. Operating income for the first quarter of 2016 was $267 million, compared to US$235m in the first quarter of 2015. Net income for the quarter was US$172m compared to net income of US$182m in the same period of 2015. Spirit’s backlog at the end of the first quarter of 2016 was approximately US$46bn. Free cash flow from operations was a US$43m source of cash for the first quarter of 2016, compared to a US$383m source of cash in the first quarter of 2015, with the decrease primarily due to tax refunds in 2015 associated with the Gulfstream divestiture.
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[email protected]
Mailing Address
AviTrader Publications Corp.
Suite 305, South Tower
5811 Cooney Road
Richmond, BC V6X 3M1
Canada