Rockwell Collins to acquire Athena Technologies

Rockwell Collins announced its intent to acquire Athena Technologies, Inc., a privately held company that develops and provides flight control and navigation solutions primarily to the Unmanned Aerial Vehicle (UAV) market segment. Terms of the agreement were not disclosed. The transaction is expected to be completed in about 30 days and is subject to regulatory approvals. The acquisition is expected to be neutral to Rockwell Collins’ fiscal year 2008 earnings.

Email Post to a Friend Email Post to a Friend

HEICO Corporation reports strong first quarter results

HEICO Corporation reported that net income increased 27% to $10,086,000 for the first quarter of fiscal 2008 from $7,921,000 for the first quarter of fiscal 2007. Operating income increased 36% to $23,230,000 for the first quarter of fiscal 2008 from $17,140,000 for the first quarter of fiscal 2007. Net sales increased 18% to $134,287,000 for the first quarter of fiscal 2008 from $113,684,000 for the first quarter of fiscal 2007.

Email Post to a Friend Email Post to a Friend

Goodrich signs agreement to acquire TEAC Aerospace

Goodrich Corporation announced that it has signed an agreement to acquire TEAC Aerospace Holdings, Inc. (TEAC), a leading provider of proprietary airborne mission data, video recording and debrief products for the defense industry, and cabin video systems for commercial airlines. The transaction is subject to customary closing conditions and regulatory approvals. Terms of the acquisition were not disclosed. TEAC will become part of Goodrich’s Sensors and Integrated Systems business

Email Post to a Friend Email Post to a Friend

Czech Airlines reports 2007 profit of CZK 111 million

According to preliminary results, after years of losses, Czech Airlines reported a profit of CZK 111 million . Its financial results are more than half a billion crowns better than in 2006, when its finances ended up with a loss of CZK 396 million. The plan for 2007 had expected a profit in the range of CZK 40 million.

Email Post to a Friend Email Post to a Friend

Iberia posts 2007 net earning of 327.6 million euros

Iberia closed 2007 with net earnings of 327.6 million euros, making it one of the best years in company history. Pre-tax profits came to 446.4 million euros, 170.3% above those of 2006. This performance gave the Spanish airline its twelfth consecutive profitable year. Iberia posted 2007 operating earnings of 283.5 million euros, up by 161.6 million for the year, providing an operating earnings margin of 5.1%, which was 2.9 points higher than that of 2006. The EBITDAR for the full year came to 932 million euros, for a gain of nearly 18% against 2006. The margin of EBITDAR over income Read more

Email Post to a Friend Email Post to a Friend

AerCap Holdings reports fourth quarter and full year 2007 financial results

Fourth quarter 2007 net income was $45.1 million, compared with a net loss of $8.0 million for the same period in 2006. Fourth quarter 2007 net income excluding non-cash charges relating to the mark-to-market of interest rate caps and share-based compen-sation was $57.0 million, an increase of 11% vs. fourth quarter 2006 of $51.2 million on the same basis. Total revenue for the fourth quarter 2007 was $284.6 million, an increase of 34% vs. fourth quarter 2006. Full year 2007 net income was $188.5 million, compared with $109.0 million for the same period in 2006. Full year 2007 net income Read more

Email Post to a Friend Email Post to a Friend

Atlas Air Worldwide reports net income of $132.4 million for full year 2007

For the full year ended December 31, 2007, AAWW posted net income of $132.4 million more than double 2006 levels, on revenues of $1.563 billion. Operating income of $154.8 million and pretax income of $132.7 million included a nonrecurring gain of $3.5 million on the disposal of aircraft and engines. For the quarter ended December 31, 2007, AAWW reported net income of $50.7 million on revenues of $442.8 million. Operating income of $70.7 million and pretax income of $66.7 million included a nonrecurring gain of $2.5 million on the disposal of surplus aircraft engines.

Email Post to a Friend Email Post to a Friend

Lufthansa raises operating profit to almost Euro 1.4 billion

The Lufthansa Group’s revenue totalled Euro 22.4 billion (previous year: Euro 19.8 billion) at the end of the financial year 2007 according to preliminary figures. The operating result of EUR 1,378 million (previous year: Euro 845 million) exceeded the profit target. The positive business development and income from portfolio management also made their mark on the net profit for the period of Euro 1,655 million (previous year: Euro 803 million). In continuation of the Group’s dividend policy and in view of the sound operating performance, the Executive Board proposes to the Supervisory Board to submit a dividend proposal of Euro Read more

Email Post to a Friend Email Post to a Friend

Goodrich to increase Share Repurchase Plan by $300 million in common stock

The Board of Directors of Goodrich Corporation approved an increase to the company’s existing Share Repurchase Plan to authorize the repurchase of up to an additional $300 million of the company’s common stock, bringing the total authorization to $600 million. Since the initial $300 million authorization was approved in October 2006, the company has repurchased 3.9 million shares for a total of $227 million, through January 31, 2008. The primary purpose of this plan is to offset dilution to existing shareholders from the company’s stock-based compensation plans.

Email Post to a Friend Email Post to a Friend

Pinnacle Airlines reports fourth quarter 2007 financial results

Pinnacle Airlines reported fourth quarter 2007 net income of $6.7 million excluding a potential one-time, non-cash charge that the Company is analyzing. The Company’s net income were $12.3 million for the fourth quarter of 2006, excluding nonrecurring items. The 2007 financial results reflect the contractual changes in the airline services agreement (the “ASA”) between the Company’s wholly owned subsidiary, Pinnacle Airlines, Inc. (“Pinnacle”), and Northwest Airlines, Inc. (“Northwest”) that became effective January 1, 2007, and include the financial results of Colgan Air, Inc. (“Colgan”), the airline acquired by the Company in January 2007

Email Post to a Friend Email Post to a Friend