Aerospace supplier Goodrich Corp., soon to be owned by United Technologies Corp. in Hartford, said Thursday that fourth-quarter profit rose as sales climbed for components used by aircraft makers Boeing and Airbus, The Associated Press reports.
Goodrich, based in Charlotte, N.C., said sales of equipment for production of large aircraft grew 27 percent; for smaller planes, 17 percent; and for defense and space products, 12 percent.
Aircraft makers have stepped up production on demand from airlines that are renewing their fleets with more fuel-efficient planes. Boeing Co. delivered 128 commercial aircraft in the fourth quarter, up from 116 a year earlier.
Goodrich, which UTC is acquiring for about $16.4 billion, said net income was $237.9 million, or $1.85 per share, compared with $148.3 million, or $1.16 per share, a year earlier. The recent results included expenses of 5 cents per share for the sale to UTC, which the company expects to close mid-year.
Analysts, who usually exclude items, expected earnings of $1.58 per share, according to FactSet.
Revenue rose to $2.15 billion from $1.81 billion a year ago, slightly above the analysts’ consensus forecast of $2.13 billion.
