Rockwell Collins earnings dip slightly

Cedar Rapids-based Rockwell Collins saw third-quarter net income dip 2 percent, though the government contractor says its commercial and defense businesses are improving and that has boosted revenue.

For the three-month period that ended on June 30, the company reported Friday it earned $142 million, or 89 cents per share. That compares to the previous year's net income of $145 million, or 91 cents per share.

Revenue jumped 12 percent to $1.21 billion, up from $1.08 billion last year. The company says 8 percent of that revenue was organic, and 4 percent came from the acquisitions of DataPath and Air Routing.

Analysts surveyed by Thomson Reuters expected Rockwell Collins to earn 88 cents per share with revenue of $1.20 billion.

Rockwell Collins narrowed its full-year revenue outlook. The company says it expects to have full-year revenue of $4.7 billion. It had previously forecast revenue between $4.6 billion and $4.8 billion.

Analysts expect full-year revenue or $4.68 billion for the company.

Shares of Rockwell Collins Inc. fell 89 cents, or 1.6 percent, to $55.17.