Goodrich reports net income of $484 million for 2007

Goodrich reported fourth quarter 2007 net income of $132 million on sales of $1,668 million. In the fourth quarter 2006, the company reported net income of $99 million on sales of $1,495 million. Net income in the fourth quarter 2007, compared with the fourth quarter 2006, was positively affected by increased sales and improved operational performance in most business units. The fourth quarter results included pre- tax income of $18.5 million, $11.6 million after-tax related to the resolution of an A380 claim against Northrop Grumman.

Net income for the full year 2007 was $484 million including an after-tax loss from discontinued operations of $13 million primarily associated with the sale of the company’s Aviation Technical Services business. During the full year 2006, net income was $482 million on sales of $5,719 million. Included in the results for 2006 was $145 million related to tax settlements that were completed in 2006.

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