Defense segment sales increased 31.0% to $553.4Mn for the fourth quarter of fiscal 2008, compared to the prior year fourth quarter due to the continuing requirements of the Company's largest customer, the U.S. Department of Defense. The Company also announced its fiscal 2009 EPS expectations of $1.65 to $2.05 on projected sales of $6.3 to $6.7Bn. This quarter also saw a debt reduction of $200Mn and the company reiterated its commitment to further debt reduction in the coming quarters.
Sierra Pacific Resources (NYSE: SRP) today announced consolidated net income applicable to common stock of $150.8Mn, or 64 cents per share, for the quarter ended September 30, 2008, compared with consolidated net income applicable to common stock of $152.2Mn, or 69 cents per share, for the same period in 2007. Michael Yackira, president and the CEO added, "The current economic downturn has impacted our operations somewhat, but our state continues to grow. Major resort projects are scheduled to come on line in southern Nevada over the next two years. We will continue to deliver reliable service throughout our state."
Rockwell Collins (NYSE:COL) today reported net income for the fiscal year ended September 30, 2008 of $678Mn, an increase of $93Mn, or 16% over fiscal year 2007 net income of $585Mn. Earnings per share improved 21% to $4.16 compared to earnings per share of $3.45 a year ago. The company lowered its revenue forecast to $4.9Bn to $4.95Bn from its earlier $5.05Bn to $5.1Bn, taking an impact from the extended Boeing strike and lower number of commercial OEM deliveries than previously projected.
The Goodyear Tire & Rubber Company (NYSE:GT) reported a 2% increase in sales to $5.2Bn as compared to last year. Third quarter 2008 income from continuing operations was $31Mn (13 cents per share). This compares to $159Mn (67 cents per share) last year. Goodyear had net income of $668Mn ($2.75 per share) in the 2007 third quarter, including a gain of $517Mn ($2.12 per share) on the sale of its former Engineered Products business.
