Goodrich announces promising Q1 results

Aircraft equipment manufacturer Goodrich, which holds a regional centre in the UAE, has reported a 75.7% growth in net income of $195 million for the first quarter of 2011, compared with $111 million for the same period last year.
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The company attributed the growth to the impact of higher overall sales, continued success on cost containment initiatives, and  increased favourable changes in estimates on certain long-term contracts.

Sales for the quarter grew 12% to $1.9 billion, compared with $1.7 billion for thew first quarter last year while its operating income reached $300 million, up 35.7% from $221 million in first quarter 2010.

The biggest growth area came in the original equipment sales for business and regional aviation where sales were up 55% - some of which was due to the company's acquisition of DeCrane's cabin management assets.

Manufacturing for the large commercial aircraft was up up 6%. The company is forecasting a 12% growtrh for the whole year.

 

 

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