- Goodrich Corporation reported strong financial results for the fourth quarter and full year 2004, with sales and earnings growth.
- Segment operating income increased 17% in the fourth quarter compared to 2003, driven by sales increases in all reportable segments.
- Full year 2004 sales grew 8% over 2003, with segment operating income increasing 56% due to higher volumes and efficiencies.
- The company reduced long-term debt by $131 million in the fourth quarter and continued strong cash generation with $298 million of cash on hand at year-end.
This document provides a summary of Goodrich Corporation's third quarter 2004 performance and financial results. Key points include:
- Sales increased 10% from Q3 2003 to $1.167 billion, with segment operating income up 12% to $132 million.
- New program wins included the Boeing 7E7 and U.S. Army Black Hawk helicopter.
- Total debt declined by $101 million through debt repayments and accounting adjustments.
- 2004 outlook for sales and EPS were increased based on improved performance.
- All market channels saw year-over-year sales growth in the first nine months of 2004.
- Goodrich Corporation reported first quarter 2005 results, with sales growth of 10% and net income per share growth of 21% compared to first quarter 2004.
- The company increased its 2005 outlook with expected sales of $5.1-5.2 billion and net income per share of $1.80-$1.95.
- Segment operating income grew 28% in the first quarter due to increases in all market channels and reportable segments.
This document provides an overview of Goodrich Corporation's second quarter 2005 results. Some key points:
- Sales grew 20% compared to second quarter 2004, with increases across all market channels and segments.
- Net income per share grew 91% compared to second quarter 2004.
- The outlook for 2005 sales was increased to $5.2-5.3 billion, up from the prior outlook of $5.1-5.2 billion.
- The outlook for 2005 net income per share was increased to $2.00-$2.10, up from the prior outlook of $1.80-$1.95.
The document provides an overview of Goodrich Corporation's financial and operational performance in the first quarter of 2004. Key points include:
- Sales increased 6% to $1.162 billion compared to the same period in 2003.
- Segment operating income increased significantly to $118 million from $19 million due to lower restructuring charges and higher sales.
- New program wins on the 7E7 and A380 are expected to fuel future growth.
- Debt has been reduced by 29% since acquiring Aeronautical Systems in 2002.
- The outlook for 2004 is sales of $4.65-4.7 billion and diluted EPS at the upper end of $1.20-1.35 range.
This document summarizes Goodrich's second quarter 2004 performance and provides an outlook for 2004. Key points include:
- Sales were up 4% in Q2 2004 versus Q3 2003 driven by higher volume, though partially offset by foreign exchange impacts.
- Net income increased substantially due to improved operational performance and lower restructuring charges.
- Goodrich has paid down $904 million in debt since acquiring Aeronautical Systems and reduced net debt by $1.1 billion.
- Sales are expected to grow to $4.7-4.75 billion in 2004 with gains across various market channels.
- Goodrich Corporation reported second quarter 2006 results, with sales growing 10% year-over-year and income from continuing operations increasing 30% to $81 million.
- The company raised its 2006 sales outlook to $5.75-5.85 billion and adjusted net income per diluted share outlook to $3.40-3.55 due to improved operational performance.
- Segment operating margins improved across all segments (Engine Systems, Airframe Systems, Electronic Systems), driven by higher commercial airplane original equipment and aftermarket sales as well as cost reductions.
Goodrich Corporation announced third quarter 2004 results with net income of $50 million, up from $34 million in third quarter 2003. Sales increased to $1.167 billion from $1.064 billion. Goodrich increased its full year 2004 outlook with sales expected to be at the high end of $4.7-4.75 billion range and earnings per share expected to be $1.45-1.50, up from previous estimates. Goodrich saw increased sales across all market channels and gained new contracts for the Boeing 7E7 and Sikorsky UH-60M helicopter.
Goodrich Corporation reported third quarter 2006 results with the following highlights:
- Sales grew 5% year-over-year to $1.436 billion, with growth in all segments.
- Net income per diluted share was $0.80, a 63% increase from third quarter 2005.
- The company authorized a $300 million share repurchase program to reduce dilution from equity programs.
- Segment operating margins improved in all segments compared to third quarter 2005.
This document provides a summary of Goodrich Corporation's third quarter 2004 performance and financial results. Key points include:
- Sales increased 10% from Q3 2003 to $1.167 billion, with segment operating income up 12% to $132 million.
- New program wins included the Boeing 7E7 and U.S. Army Black Hawk helicopter.
- Total debt declined by $101 million through debt repayments and accounting adjustments.
- 2004 outlook for sales and EPS were increased based on improved performance.
- All market channels saw year-over-year sales growth in the first nine months of 2004.
- Goodrich Corporation reported first quarter 2005 results, with sales growth of 10% and net income per share growth of 21% compared to first quarter 2004.
- The company increased its 2005 outlook with expected sales of $5.1-5.2 billion and net income per share of $1.80-$1.95.
- Segment operating income grew 28% in the first quarter due to increases in all market channels and reportable segments.
This document provides an overview of Goodrich Corporation's second quarter 2005 results. Some key points:
- Sales grew 20% compared to second quarter 2004, with increases across all market channels and segments.
- Net income per share grew 91% compared to second quarter 2004.
- The outlook for 2005 sales was increased to $5.2-5.3 billion, up from the prior outlook of $5.1-5.2 billion.
- The outlook for 2005 net income per share was increased to $2.00-$2.10, up from the prior outlook of $1.80-$1.95.
The document provides an overview of Goodrich Corporation's financial and operational performance in the first quarter of 2004. Key points include:
- Sales increased 6% to $1.162 billion compared to the same period in 2003.
- Segment operating income increased significantly to $118 million from $19 million due to lower restructuring charges and higher sales.
- New program wins on the 7E7 and A380 are expected to fuel future growth.
- Debt has been reduced by 29% since acquiring Aeronautical Systems in 2002.
- The outlook for 2004 is sales of $4.65-4.7 billion and diluted EPS at the upper end of $1.20-1.35 range.
This document summarizes Goodrich's second quarter 2004 performance and provides an outlook for 2004. Key points include:
- Sales were up 4% in Q2 2004 versus Q3 2003 driven by higher volume, though partially offset by foreign exchange impacts.
- Net income increased substantially due to improved operational performance and lower restructuring charges.
- Goodrich has paid down $904 million in debt since acquiring Aeronautical Systems and reduced net debt by $1.1 billion.
- Sales are expected to grow to $4.7-4.75 billion in 2004 with gains across various market channels.
- Goodrich Corporation reported second quarter 2006 results, with sales growing 10% year-over-year and income from continuing operations increasing 30% to $81 million.
- The company raised its 2006 sales outlook to $5.75-5.85 billion and adjusted net income per diluted share outlook to $3.40-3.55 due to improved operational performance.
- Segment operating margins improved across all segments (Engine Systems, Airframe Systems, Electronic Systems), driven by higher commercial airplane original equipment and aftermarket sales as well as cost reductions.
Goodrich Corporation announced third quarter 2004 results with net income of $50 million, up from $34 million in third quarter 2003. Sales increased to $1.167 billion from $1.064 billion. Goodrich increased its full year 2004 outlook with sales expected to be at the high end of $4.7-4.75 billion range and earnings per share expected to be $1.45-1.50, up from previous estimates. Goodrich saw increased sales across all market channels and gained new contracts for the Boeing 7E7 and Sikorsky UH-60M helicopter.
Goodrich Corporation reported third quarter 2006 results with the following highlights:
- Sales grew 5% year-over-year to $1.436 billion, with growth in all segments.
- Net income per diluted share was $0.80, a 63% increase from third quarter 2005.
- The company authorized a $300 million share repurchase program to reduce dilution from equity programs.
- Segment operating margins improved in all segments compared to third quarter 2005.
- GM reported preliminary first quarter 2007 results with GAAP EPS of $0.11 and adjusted EPS of $0.17.
- Adjusted total automotive results improved $0.3 billion versus Q1 2006 driven by improved results at GMNA, GMLAAM, and GMAP.
- GMAC reported a net loss of $115 million compared to net income of $495 million in Q1 2006 due to continued weakness in its mortgage business.
The document provides a financial and operational performance review for the 4th quarter and full year of 2003. Some key points:
- Full year 2003 cash flow from operations was $553 million, up 6% from 2002, with sales of $4.4 billion and EPS of $0.93.
- EPS for 2004 is expected to be between $1.20-$1.35, including the impact of a contract accounting change and stock option expensing.
- The 4th quarter saw income from continuing operations of $33 million and net income of $33 million.
- Total debt has been reduced through debt retirement and increased cash holdings since acquiring Aeronautical Systems.
This document summarizes the Q1 FY2004 earnings results of a large packaged foods company. Key points include:
- Q1 EPS was $0.37 compared to $0.43 in Q1 FY2003, impacted by various one-time gains and losses.
- Packaged foods sales were down $168M excluding divested businesses, with a 5% volume decline.
- Several major brands saw growth, while others like Butterball declined.
- Corporate expenses increased due to litigation expenses from a past joint venture.
- The effective tax rate for FY2004 is estimated at 38%.
The document provides an overview of AES Corporation's financial results for the first quarter of 2006. Some key highlights include revenues increasing 13% to $3.013 billion compared to the same period in 2005, driven largely by higher prices and currency effects. Income before taxes and minority interest increased 68% to $633 million. Diluted earnings per share from continuing operations were $0.52 compared to $0.19 in the prior year. Segment results were positively impacted by higher demand and prices across most business lines.
- The document provides AES Corporation's third quarter 2006 financial review, including highlights and guidance updates.
- Key highlights include a 14% increase in revenues year-over-year due to higher prices and new projects. Gross margin increased 9% while income before taxes declined 114% due to losses on asset sales related to restructuring.
- Guidance for 2006 was updated, with revenue growth expected at 9-10% and adjusted EPS estimated at $1.09, up from the prior guidance of $1.01.
This document provides financial information for Ameriprise Financial, Inc. for the fourth quarter of 2006. It includes consolidated income statements, adjusted consolidated income statements, financial metrics, segment information, and explanatory notes. Some key figures include total revenues of $2.16 billion for Q4 2006, a 16% increase from Q4 2005. Net income was $171 million for Q4 2006, a 54% increase from Q4 2005. Adjusted earnings per share increased 34% to $1.03 for Q4 2006 compared to $0.77 for Q4 2005.
This document contains the transcript from Oshkosh Corporation's earnings conference call for the third quarter of fiscal year 2008. Key highlights include a 6.6% increase in quarterly sales to $1.97 billion but a 5.9% decrease in operating income to $181.2 million. EPS for the quarter decreased 1.7% to $1.19. Oshkosh revised its estimate for full year 2008 EPS to a range of $3.15 to $3.30.
This document provides a summary of Lear Corporation's fourth quarter and full year 2007 results and financial outlook for 2008.
Some key points:
- Net sales for Q4 2007 were $3.9 billion, up 6% from prior year. Core operating earnings for Q4 2007 were $179 million, up 11%.
- For the full year 2007, net sales were $15.3 billion, up 5% and core operating earnings were $749 million, up 34%.
- The financial outlook for 2008 forecasts net sales of approximately $15 billion and core operating earnings between $660-700 million.
Goodrich Corporation reported first quarter 2008 results with sales growth of 13% and segment operating income margin increasing from 14.9% to 17.3%. Net income per diluted share increased 59% to $1.24, which includes $0.03 from discontinued operations. For full-year 2008, Goodrich increased its sales outlook to $7.2-7.3 billion (13-14% growth) and net income per diluted share outlook to $4.30-$4.45 (14-18% growth). Key drivers include strong demand for commercial aircraft and aftermarket services as well as defense programs.
This document provides a summary of Credit Suisse Group's 3rd quarter 2001 results. It reports a net operating profit of CHF 21 million but an overall reported loss of CHF 299 million due to losses at CSFB and unrealized investment losses. It highlights continued net new asset inflows but lower revenues and profits across most business units due to difficult market conditions. It also summarizes asset quality, capital adequacy, results by business unit and other financial details on the quarter.
The document provides an overview of Alcoa's 4th quarter 2008 financial results and outlook for 1st quarter 2009. Key points include:
- 4Q 2008 loss from continuing operations of $929 million or $1.16 per share due to restructuring and impairment charges of $708 million.
- Revenue declined 18% sequentially to $5.7 billion on lower metal prices and market deterioration.
- Cash from operations was $608 million and cash on hand was $762 million.
- 1Q 2009 outlook includes further price declines and production cuts due to weak market conditions across key end markets.
Este documento presenta lineamientos para la redefinición de planes de estudio de educación media en Armenia a través de créditos académicos. Describe los tipos de educación, la articulación entre educación media y superior, y propone tres elementos de flexibilidad curricular: la formación propedéutica, la articulación entre niveles educativos, y el uso de créditos académicos. El objetivo es mejorar la calidad educativa y facilitar la transición de estudiantes entre niveles.
This document provides a reconciliation of ALLTEL Corporation's results of operations under GAAP (Generally Accepted Accounting Principles) to non-GAAP results of operations from current businesses for the twelve months and three months ended December 31, 2004. It shows revenues, costs, expenses, operating income, and earnings per share under both GAAP and excluding certain items to present results from current businesses only. Key figures include total revenues of $8.2 billion for the twelve months under both measures. Operating income was $1.97 billion excluding items versus $1.92 billion under GAAP.
Analisis de resultados pruebas saber 2011rufinosur
El documento presenta los resultados de las pruebas Saber 11 realizadas en septiembre de 2011 por una institución educativa. Resalta que el grupo con mayor puntaje promedio fue Sistemas, mientras que Turismo obtuvo el menor puntaje. El área con mayor puntaje fue Matemáticas y las de menor puntaje fueron Filosofía e Inglés. Finalmente, presenta los 32 mejores puntajes obtenidos, superiores a 50 puntos.
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Este documento presenta la misión, visión y objetivos de la modalidad de preservación de recursos naturales de la Institución Educativa Rufino José Cuervo Sur. El programa busca sensibilizar a los estudiantes sobre la importancia de la conservación de los recursos naturales y entregarles herramientas para su manejo efectivo. Al terminar, los estudiantes podrán desempeñarse como ayudantes de vivero, jardineros u otros cargos relacionados con la preservación ambiental.
1) Goodrich Corporation reported first quarter 2005 results with sales growth of 10% and net income per share growth of 21% compared to first quarter 2004.
2) Financial outlook for 2005 was increased with sales expected to be $5.1-5.2 billion and net income per share of $1.80-1.95.
3) Recent developments included higher sales and profits in all business segments, debt reduction of $100 million, and new contracts including providing nacelles for the Airbus A350.
This document provides a summary of Goodrich Corporation's third quarter 2004 performance and financial results. Key points include:
- Sales increased 10% from Q3 2003 to $1.167 billion, with segment operating income up 12% to $132 million.
- New program wins included the Boeing 7E7 and U.S. Army Black Hawk helicopter programs.
- Total debt was reduced by $101 million in the quarter through various actions.
- EPS from continuing operations increased 41% to $0.41 compared to $0.29 in Q3 2003.
- Sales and profits increased across all market channels and segments compared to the prior year.
This document summarizes Goodrich's second quarter 2004 performance and provides an outlook for 2004. Key points include:
- Sales were up 4% in Q2 2004 versus Q3 2003 while net income increased 169% due to improved operational performance.
- For the first half of 2004, sales were up 5% and net income increased 95% year-over-year.
- Goodrich has paid down $904 million in debt since acquiring Aeronautical Systems in 2002 through strong cash flow.
- The outlook for 2004 anticipates sales of $4.70-4.75 billion and EPS of $1.30-1.40, representing growth over 2003.
- Goodrich has a balanced business mix across
- GM reported preliminary first quarter 2007 results with GAAP EPS of $0.11 and adjusted EPS of $0.17.
- Adjusted total automotive results improved $0.3 billion versus Q1 2006 driven by improved results at GMNA, GMLAAM, and GMAP.
- GMAC reported a net loss of $115 million compared to net income of $495 million in Q1 2006 due to continued weakness in its mortgage business.
The document provides a financial and operational performance review for the 4th quarter and full year of 2003. Some key points:
- Full year 2003 cash flow from operations was $553 million, up 6% from 2002, with sales of $4.4 billion and EPS of $0.93.
- EPS for 2004 is expected to be between $1.20-$1.35, including the impact of a contract accounting change and stock option expensing.
- The 4th quarter saw income from continuing operations of $33 million and net income of $33 million.
- Total debt has been reduced through debt retirement and increased cash holdings since acquiring Aeronautical Systems.
This document summarizes the Q1 FY2004 earnings results of a large packaged foods company. Key points include:
- Q1 EPS was $0.37 compared to $0.43 in Q1 FY2003, impacted by various one-time gains and losses.
- Packaged foods sales were down $168M excluding divested businesses, with a 5% volume decline.
- Several major brands saw growth, while others like Butterball declined.
- Corporate expenses increased due to litigation expenses from a past joint venture.
- The effective tax rate for FY2004 is estimated at 38%.
The document provides an overview of AES Corporation's financial results for the first quarter of 2006. Some key highlights include revenues increasing 13% to $3.013 billion compared to the same period in 2005, driven largely by higher prices and currency effects. Income before taxes and minority interest increased 68% to $633 million. Diluted earnings per share from continuing operations were $0.52 compared to $0.19 in the prior year. Segment results were positively impacted by higher demand and prices across most business lines.
- The document provides AES Corporation's third quarter 2006 financial review, including highlights and guidance updates.
- Key highlights include a 14% increase in revenues year-over-year due to higher prices and new projects. Gross margin increased 9% while income before taxes declined 114% due to losses on asset sales related to restructuring.
- Guidance for 2006 was updated, with revenue growth expected at 9-10% and adjusted EPS estimated at $1.09, up from the prior guidance of $1.01.
This document provides financial information for Ameriprise Financial, Inc. for the fourth quarter of 2006. It includes consolidated income statements, adjusted consolidated income statements, financial metrics, segment information, and explanatory notes. Some key figures include total revenues of $2.16 billion for Q4 2006, a 16% increase from Q4 2005. Net income was $171 million for Q4 2006, a 54% increase from Q4 2005. Adjusted earnings per share increased 34% to $1.03 for Q4 2006 compared to $0.77 for Q4 2005.
This document contains the transcript from Oshkosh Corporation's earnings conference call for the third quarter of fiscal year 2008. Key highlights include a 6.6% increase in quarterly sales to $1.97 billion but a 5.9% decrease in operating income to $181.2 million. EPS for the quarter decreased 1.7% to $1.19. Oshkosh revised its estimate for full year 2008 EPS to a range of $3.15 to $3.30.
This document provides a summary of Lear Corporation's fourth quarter and full year 2007 results and financial outlook for 2008.
Some key points:
- Net sales for Q4 2007 were $3.9 billion, up 6% from prior year. Core operating earnings for Q4 2007 were $179 million, up 11%.
- For the full year 2007, net sales were $15.3 billion, up 5% and core operating earnings were $749 million, up 34%.
- The financial outlook for 2008 forecasts net sales of approximately $15 billion and core operating earnings between $660-700 million.
Goodrich Corporation reported first quarter 2008 results with sales growth of 13% and segment operating income margin increasing from 14.9% to 17.3%. Net income per diluted share increased 59% to $1.24, which includes $0.03 from discontinued operations. For full-year 2008, Goodrich increased its sales outlook to $7.2-7.3 billion (13-14% growth) and net income per diluted share outlook to $4.30-$4.45 (14-18% growth). Key drivers include strong demand for commercial aircraft and aftermarket services as well as defense programs.
This document provides a summary of Credit Suisse Group's 3rd quarter 2001 results. It reports a net operating profit of CHF 21 million but an overall reported loss of CHF 299 million due to losses at CSFB and unrealized investment losses. It highlights continued net new asset inflows but lower revenues and profits across most business units due to difficult market conditions. It also summarizes asset quality, capital adequacy, results by business unit and other financial details on the quarter.
The document provides an overview of Alcoa's 4th quarter 2008 financial results and outlook for 1st quarter 2009. Key points include:
- 4Q 2008 loss from continuing operations of $929 million or $1.16 per share due to restructuring and impairment charges of $708 million.
- Revenue declined 18% sequentially to $5.7 billion on lower metal prices and market deterioration.
- Cash from operations was $608 million and cash on hand was $762 million.
- 1Q 2009 outlook includes further price declines and production cuts due to weak market conditions across key end markets.
Este documento presenta lineamientos para la redefinición de planes de estudio de educación media en Armenia a través de créditos académicos. Describe los tipos de educación, la articulación entre educación media y superior, y propone tres elementos de flexibilidad curricular: la formación propedéutica, la articulación entre niveles educativos, y el uso de créditos académicos. El objetivo es mejorar la calidad educativa y facilitar la transición de estudiantes entre niveles.
This document provides a reconciliation of ALLTEL Corporation's results of operations under GAAP (Generally Accepted Accounting Principles) to non-GAAP results of operations from current businesses for the twelve months and three months ended December 31, 2004. It shows revenues, costs, expenses, operating income, and earnings per share under both GAAP and excluding certain items to present results from current businesses only. Key figures include total revenues of $8.2 billion for the twelve months under both measures. Operating income was $1.97 billion excluding items versus $1.92 billion under GAAP.
Analisis de resultados pruebas saber 2011rufinosur
El documento presenta los resultados de las pruebas Saber 11 realizadas en septiembre de 2011 por una institución educativa. Resalta que el grupo con mayor puntaje promedio fue Sistemas, mientras que Turismo obtuvo el menor puntaje. El área con mayor puntaje fue Matemáticas y las de menor puntaje fueron Filosofía e Inglés. Finalmente, presenta los 32 mejores puntajes obtenidos, superiores a 50 puntos.
SMOKE GIRLS CATALOGUE IS NOW OUT
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FREE SHIPPING ON ORDERS $100 and UP
E-MAIL SMOKEGIRLS.CA@GMAIL.COM
TO MAKE YOUR ORDER TODAY AND A REP WILL CONTACT YOU WITHIN 24 HOURS.
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Este documento presenta la misión, visión y objetivos de la modalidad de preservación de recursos naturales de la Institución Educativa Rufino José Cuervo Sur. El programa busca sensibilizar a los estudiantes sobre la importancia de la conservación de los recursos naturales y entregarles herramientas para su manejo efectivo. Al terminar, los estudiantes podrán desempeñarse como ayudantes de vivero, jardineros u otros cargos relacionados con la preservación ambiental.
1) Goodrich Corporation reported first quarter 2005 results with sales growth of 10% and net income per share growth of 21% compared to first quarter 2004.
2) Financial outlook for 2005 was increased with sales expected to be $5.1-5.2 billion and net income per share of $1.80-1.95.
3) Recent developments included higher sales and profits in all business segments, debt reduction of $100 million, and new contracts including providing nacelles for the Airbus A350.
This document provides a summary of Goodrich Corporation's third quarter 2004 performance and financial results. Key points include:
- Sales increased 10% from Q3 2003 to $1.167 billion, with segment operating income up 12% to $132 million.
- New program wins included the Boeing 7E7 and U.S. Army Black Hawk helicopter programs.
- Total debt was reduced by $101 million in the quarter through various actions.
- EPS from continuing operations increased 41% to $0.41 compared to $0.29 in Q3 2003.
- Sales and profits increased across all market channels and segments compared to the prior year.
This document summarizes Goodrich's second quarter 2004 performance and provides an outlook for 2004. Key points include:
- Sales were up 4% in Q2 2004 versus Q3 2003 while net income increased 169% due to improved operational performance.
- For the first half of 2004, sales were up 5% and net income increased 95% year-over-year.
- Goodrich has paid down $904 million in debt since acquiring Aeronautical Systems in 2002 through strong cash flow.
- The outlook for 2004 anticipates sales of $4.70-4.75 billion and EPS of $1.30-1.40, representing growth over 2003.
- Goodrich has a balanced business mix across
The document provides an overview of Goodrich Corporation's financial and operational performance in the first quarter of 2004. Key points include:
- Sales increased 6% to $1.162 billion compared to the same period in 2003.
- Segment operating income increased significantly to $118 million from $19 million due to lower restructuring charges and higher sales.
- New program wins on the 7E7 and A380 are expected to fuel future growth.
- Debt has been reduced by 29% since acquiring Aeronautical Systems in 2002.
- The outlook for 2004 is sales of $4.65-4.7 billion and diluted EPS at the upper end of $1.20-1.35 range.
Goodrich Corporation reported its second quarter 2005 results. Sales grew 20% compared to the second quarter of 2004, with increases across all market channels and reportable segments. Net income per share grew 91% compared to the same period last year. The company increased its 2005 sales and earnings per share outlook. However, results in the Airframe Systems segment were down 57% due to a $15 million charge for retrofitting redesigned parts for the A380 aircraft's actuation system.
- Goodrich Corporation reported second quarter 2006 results, with sales growing 10% year-over-year and income from continuing operations increasing 30% to $81 million compared to second quarter 2005.
- The company raised its 2006 sales outlook to $5.75-5.85 billion and adjusted net income per diluted share outlook to $3.40-3.55 due to improved operational performance.
- All business segments saw sales and operating income increases compared to second quarter 2005, driven by higher commercial airplane original equipment and aftermarket sales as well as cost improvements.
Paul Gifford, Vice President of Investor Relations at Goodrich, presented at the Gabelli 10th Annual Aircraft Supplier Conference in New York on September 9, 2004. Goodrich reported improved financial results in the first half of 2004, with sales up 5% and segment operating income up 146% compared to the first half of 2003. Goodrich also continues to pay down debt and has a balanced mix of sales across commercial, military, and aftermarket channels. New program wins such as the 7E7 Dreamliner and Joint Strike Fighter are expected to add balanced future growth.
Vice President Paul Gifford presented at the Gabelli 10th Annual Aircraft Supplier Conference in New York on September 9, 2004. He discussed Goodrich's company overview and financial results for the first half of 2004, noting sales increased 5% to $2.296 billion compared to the first half of 2003. Segment operating income increased 146% to $245 million or 10.7% of sales, up from 4.5% in the prior year. Goodrich continues to pay down debt from its acquisition of Aeronautical Systems in 2003, having redeemed $60 million in bonds in August 2004.
The document provides an overview and analysis of Goodrich Corporation's fourth quarter and full year 2003 financial performance and outlook for 2004. Some key points:
- 2003 cash flow from operations was $553 million, up 6% from 2002. Sales were $4.383 billion and EPS was $0.93.
- Fourth quarter 2003 sales were $1.13 billion and EPS from continuing operations was $0.28.
- Full year sales growth is expected to be low single digits in 2004, and EPS is forecasted to be between $1.20-$1.35.
- Several factors are expected to create headwinds in 2004, including higher pension and healthcare costs, foreign exchange impacts
Goodrich Corporation reported third quarter 2005 results. Sales grew 18% compared to third quarter 2004, with double-digit increases in all market channels and reportable segments. Net income per share grew 20%. The outlook for 2005 sales is approximately $5.3 billion, with the net income per share outlook unchanged at $2.00-$2.10. Fourth quarter 2005 is expected to have increased restructuring expenses, reduced Boeing sales and income, and a higher tax rate, reducing net income per share by approximately $0.08 compared to previous expectations.
Goodrich Corporation reported third quarter 2005 results with the following highlights:
- Sales grew 18% compared to third quarter 2004, with double-digit increases in all market channels and reportable segments.
- Net income per diluted share grew 20% compared to third quarter 2004.
- Full year 2005 outlook for sales is approximately $5.3 billion, with net income per diluted share outlook unchanged at $2.00-$2.10.
Goodrich Corporation announced third quarter 2004 results with net income of $50 million, up from $34 million in third quarter 2003. Sales increased to $1.167 billion from $1.064 billion. Goodrich increased its full year 2004 outlook with sales expected to be at the high end of $4.7-4.75 billion range and earnings per share expected to be $1.45-1.50, up from previous estimates. Goodrich saw increased sales across all market channels and gained new contracts for the Boeing 7E7 and Sikorsky UH-60M helicopter.
Goodrich Corporation announced its second quarter 2004 results, reporting a net income of $39 million compared to $14 million in the second quarter of 2003. Sales increased to $1,134 million from $1,095 million. Goodrich also increased its full year 2004 outlook, expecting sales between $4.7-4.75 billion and fully diluted earnings per share between $1.30-1.40. The increased outlook was due to improving conditions in commercial aerospace aftermarket and military and space markets.
Goodrich Corporation announced its second quarter 2004 results, reporting a net income of $39 million compared to $14 million in the second quarter of 2003. Sales increased to $1,134 million from $1,095 million. Goodrich also increased its full year 2004 outlook, expecting sales between $4.7-4.75 billion and fully diluted earnings per share between $1.30-1.40, up from its previous outlook. The increased outlook was due to better than expected commercial aerospace aftermarket and military and space sales.
Goodrich Corporation reported third quarter 2006 results with the following highlights:
- Sales grew 5% year-over-year to $1.436 billion, with growth in all segments.
- Net income per diluted share was $0.80, a 63% increase from third quarter 2005.
- Segment operating margins improved in all segments compared to third quarter 2005.
- The company initiated a $300 million share repurchase program to reduce dilution from equity compensation programs.
Goodrich Corporation reported first quarter 2008 results with sales growth of 13% and segment operating income margin increasing from 14.9% to 17.3%. Net income per diluted share increased 59% to $1.24, including $0.03 from discontinued operations. For full-year 2008, Goodrich increased its sales outlook to $7.2-7.3 billion (13-14% growth) and net income per diluted share outlook to $4.30-$4.45 (14-18% growth). Key drivers included strong commercial aircraft production and aftermarket demand as well as positions on new defense platforms.
- Goodrich Corporation reported fourth quarter 2006 results with sales growth of 10% and segment operating margin increase from 11.2% to 12.5% compared to fourth quarter 2005.
- Net income per diluted share was $0.78, reflecting 39% growth including tax adjustments and stock-based compensation expenses.
- For full year 2006, sales grew 9% and segment operating margin increased from 11.5% to 13.0% compared to full year 2005. Net income per diluted share grew 79%.
Goodrich Corporation reported fourth quarter and full year 2006 results on February 1, 2007. Some key highlights include:
- Fourth quarter 2006 sales grew 10% year-over-year with growth in all segments and major market channels. Segment operating margin increased from 11.2% to 12.5%.
- Net income per diluted share was $0.78, reflecting 39% growth over fourth quarter 2005.
- For the full year 2006, sales grew 9% year-over-year. Segment operating income increased 22% and margin increased 1.5% to 13.0%. Net income increased 83%.
- The company cautions that any forward-looking statements are subject to risks and uncertainties that could cause
Goodrich Corporation reported fourth quarter 2007 results with the following highlights:
- Sales grew 12% to $1.668 billion compared to fourth quarter 2006, driven by strong commercial aftermarket sales.
- Segment operating income margin increased from 13.0% to 15.9% year-over-year.
- Net income per diluted share increased 33% to $1.04, including $0.09 per share related to a settlement.
- For full year 2008, Goodrich expects sales to grow 11-13% to $7.1-7.2 billion and net income per diluted share to increase 10-14% to $4.15-$4.30, reflecting continued strong demand in commercial
Goodrich Corporation reported fourth quarter 2007 results with the following highlights:
- Sales grew 12% to $1.668 billion compared to fourth quarter 2006, driven by strong commercial aftermarket sales.
- Segment operating income margin increased from 13.0% to 15.9% over the same period.
- Net income per diluted share increased 33% to $1.04, including $0.09 per share related to a settlement.
- For full year 2008, Goodrich expects sales growth of 11-13% to $7.1-7.2 billion and net income per diluted share growth of 10-14% to $4.15-$4.30, reflecting expected increases in commercial aircraft deliver
Robert G. Bohn, Chairman, President and CEO of Oshkosh Truck Corporation, and Charles L. Szews, Executive VP and CFO, reported record financial results for the first quarter of fiscal year 2006. Sales increased 22.5% to $790.3 million and operating income grew 28.6% to $87 million. EPS increased 28.6% to $0.72. For fiscal year 2006, the company estimates sales between $3.3-3.4 billion, operating income between $316.5-329 million, and EPS between $2.55-2.65, representing growth of 17-21.6%.
1) Oshkosh reported record second quarter fiscal year 2006 results with sales up 25.6% and operating income up 27.3% driven by strong performance in the defense segment.
2) The defense segment results nearly doubled compared to the previous year due to growth in remanufactured and new truck sales, however challenges remain in locating used vehicle carcasses for remanufacturing.
3) The fire and emergency segment saw a temporary dip in earnings as anticipated due to heavily weighted airport product sales in the second half of the year and two component issues that delayed revenue recognition.
Robert G. Bohn, Chairman, President and CEO of Oshkosh Truck Corporation, discussed the company's strong third quarter fiscal year 2006 results and provided an outlook for fiscal years 2006 and 2007. Some highlights included record sales and operating income for Q3 2006. The company also announced two acquisitions, AK Specialty Vehicles and Iowa Mold Tooling, expected to be accretive to earnings in fiscal 2007. For fiscal 2006, Oshkosh estimates sales growth of 14.9-16.6% and EPS growth of 24-26%. Fiscal 2007 estimates include sales of $3.65-$3.75 billion and EPS of $3.05-$3.15.
Oshkosh Truck Corporation presented an investor presentation on its proposed acquisition of JLG Industries, Inc. The presentation discussed Oshkosh's track record of successful acquisitions and shareholder value creation. It also outlined the objectives of acquiring JLG to support growth above 15%, diversify into the fast-growing aerial work platform market, and execute its long-term acquisition strategy. Finally, the presentation provided an overview of Oshkosh Truck Corporation and its proven strategy of new product leadership, operational excellence, and strategic acquisitions that have fueled strong sales and earnings growth.
Robert Bohn, Chairman of Oshkosh Truck Corporation, discussed the company's strong fiscal 2006 financial results and outlook for fiscal 2007. Key points include:
1) Fiscal 2006 sales increased 15.8% and operating income grew 22%, with EPS up 26.6%.
2) The acquisition of JLG Industries was announced, which will diversify the company and support growth of over 15%.
3) Fiscal 2007 stand-alone estimates include sales of $3.65-$3.75 billion and EPS of $3.05-$3.15, with the JLG acquisition expected to be modestly accretive.
In this earnings call, Oshkosh Truck Corporation discusses its first quarter 2007 results. Sales increased 27.4% to $1.01 billion due to the acquisition of JLG Industries. Operating income decreased 3.9% to $83.6 million and EPS decreased 23.6% to $0.55. The company increased its full-year 2007 EPS estimate range to $3.15 to $3.25 per share. JLG is meeting expectations and integration is progressing well. Defense sales were lower compared to strong prior year results while fire and emergency and commercial saw strong performance.
This document summarizes an earnings conference call for Oshkosh Truck Corporation for the second quarter of fiscal year 2007. Sales increased 96.6% to $1.66 billion and operating income grew 69.1% to $134.8 million. For fiscal year 2007, the company estimates sales of $6.1-6.2 billion and operating income of $568-580 million. It also provides segment-level results and highlights for access equipment, defense, fire & emergency, and commercial.
1) Oshkosh reported strong third quarter 2007 results with sales increasing 108% to $1.85 billion and operating income up 133% to $192.7 million.
2) Access equipment and defense led the growth in sales and operating income. The acquisition of JLG was accretive to EPS by $0.35 per share.
3) For fiscal year 2007, Oshkosh estimates sales between $6.3-6.35 billion and EPS between $3.35-3.40, and for fiscal year 2008 estimates sales between $7-7.2 billion and EPS between $4.15-4.35.
The document summarizes Oshkosh Truck Corporation's fourth quarter fiscal 2007 earnings conference call. It discusses record sales and operating income for fiscal 2007. Projections are provided for fiscal 2008, estimating sales between $7.1-7.3 billion and operating income between $690-715 million. Segment performances are reviewed, with access equipment and defense highlighted as key growth drivers. Estimates are also given for interest expense, tax rates, capital expenditures and debt levels for fiscal 2008.
Oshkosh Corporation held an earnings conference call to discuss its first quarter fiscal year 2008 results. Sales increased 49% to $1.5 billion due to strong growth in access equipment and defense, while earnings per share declined 9.1% to $0.50. For fiscal year 2008, the company estimates revenue of $7.1-7.3 billion, operating income of $675-700 million, and earnings per share of $4.15-4.35. Challenging economic conditions are impacting commercial and fire & emergency segments, but global initiatives and cost reductions will support the full-year outlook.
The document summarizes Oshkosh Corporation's earnings conference call for the second quarter of fiscal year 2008. Key highlights include sales increasing 6.7% to $1.8 billion and operating income rising 24.8% to $168.2 million. EPS grew 42.6% to $0.97. While access equipment and defense saw strong demand, commercial and fire & emergency faced challenging market conditions. The company maintained its fiscal year 2008 EPS estimate range of $4.15 to $4.35.
The document summarizes Oshkosh Corporation's earnings conference call for the third quarter of fiscal year 2008. It discusses increases in sales revenue but decreases in operating income and earnings per share compared to the previous year. Several initiatives are mentioned to manage costs and cash flow in changing market conditions. Business segment results are provided, with strength in access equipment and defense but challenges in commercial and fire & emergency sectors.
This document is the transcript from Oshkosh Corporation's earnings conference call for the fourth quarter of fiscal year 2008. It discusses Oshkosh's financial results for Q4 and fiscal year 2008, including sales, operating income, earnings per share, and debt reduction. It also provides an outlook for fiscal year 2009, estimating revenues of $6.3-6.7 billion, operating income of $350-400 million, and EPS of $1.65-2.05. The transcript reviews performance and outlook for each of Oshkosh's business segments and discusses its financing plans.
Robert Bohn and David Sagehorn of Oshkosh Corporation gave a presentation at the Goldman Sachs Conference in November 2008. They discussed Oshkosh's strong financial position and actions taken to reduce costs and debt. While market conditions were volatile due to the economic downturn, Oshkosh was well positioned with backlogs in defense, fire, and refuse collection vehicles. The presentation outlined Oshkosh's segments and strategies to manage through the difficult economy.
1) The document is from a presentation given by Oshkosh executives Charles Szews and David Sagehorn at the R.W. Baird Industrial Conference on November 12, 2008.
2) Oshkosh reported sales increased 13.2% to $7.1 billion in fiscal 2008, with international sales reaching $2.1 billion. However, operating income decreased 1.5% and EPS decreased 5.9% due to non-cash impairment charges.
3) Oshkosh recently secured multiple defense contracts and sees opportunities in the domestic refuse collection vehicle market, but the current market volatility and credit crisis make fiscal 2009 projections difficult given exposure to construction and municipal spending.
Charles Szews, President and COO of Oshkosh Corporation, presented at the Cowen and Company Aerospace & Defense Conference on February 5, 2009. He discussed Oshkosh's business segments, products, competitive advantages, challenges, and actions taken in response to the economic downturn. Key points included reduced revenues and earnings in Q1 2009, cost reduction efforts, and focus on core businesses with strong backlogs like defense and fire apparatus that have gained market share.
Oshkosh Corporation held an earnings conference call to discuss its first quarter fiscal year 2008 results. Sales increased 49% to $1.5 billion due to strong growth in access equipment and defense, while earnings per share declined 9.1% to $0.50. For fiscal year 2008, the company estimates revenue of $7.1-7.3 billion, operating income of $675-700 million, and earnings per share of $4.15-4.35. Challenging economic conditions are impacting commercial and fire & emergency segments, but global initiatives and cost reductions will support the full-year outlook.
The document summarizes Oshkosh Corporation's earnings conference call for the second quarter of fiscal year 2008. Key highlights include sales increasing 6.7% to $1.8 billion and operating income rising 24.8% to $168.2 million. EPS grew 42.6% to $0.97. While access equipment and defense saw strong demand, commercial and fire & emergency faced challenging market conditions. The company maintained its fiscal year 2008 EPS estimate range of $4.15 to $4.35.
This document summarizes an earnings conference call for Oshkosh Corporation for the fourth quarter of fiscal year 2008. It discusses the company's financial results including a 5.8% increase in sales to $1.9 billion but a 32% decrease in operating income to $122 million. The document also provides an overview of Oshkosh's fiscal year 2008 results and discusses challenges faced in various business segments due to economic conditions. It notes actions taken by the company to reduce costs and debt. An outlook is given for fiscal year 2009 noting market volatility and a plan to drive over $500 million in debt reduction. Business segment results and outlooks are also summarized.
The document outlines an annual investor conference for Goodrich Corporation to be held on October 30, 2003. The morning session will include introductory comments by Marshall Larsen and a financial review by Rick Schmidt. Breakout sessions will cover Airframe Systems, Engine Systems, and Electronic Systems with a panel Q&A. The afternoon will include an informal lunch and company and market overviews by Marshall Larsen.
Economic Risk Factor Update: June 2024 [SlideShare]Commonwealth
May’s reports showed signs of continued economic growth, said Sam Millette, director, fixed income, in his latest Economic Risk Factor Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
Explore the world of investments with an in-depth comparison of the stock market and real estate. Understand their fundamentals, risks, returns, and diversification strategies to make informed financial decisions that align with your goals.
South Dakota State University degree offer diploma Transcriptynfqplhm
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Madhya Pradesh, the "Heart of India," boasts a rich tapestry of culture and heritage, from ancient dynasties to modern developments. Explore its land records, historical landmarks, and vibrant traditions. From agricultural expanses to urban growth, Madhya Pradesh offers a unique blend of the ancient and modern.
How to Identify the Best Crypto to Buy Now in 2024.pdfKezex (KZX)
To identify the best crypto to buy in 2024, analyze market trends, assess the project's fundamentals, review the development team and community, monitor adoption rates, and evaluate risk tolerance. Stay updated with news, regulatory changes, and expert opinions to make informed decisions.
The Rise and Fall of Ponzi Schemes in America.pptxDiana Rose
Ponzi schemes, a notorious form of financial fraud, have plagued America’s investment landscape for decades. Named after Charles Ponzi, who orchestrated one of the most infamous schemes in the early 20th century, these fraudulent operations promise high returns with little or no risk, only to collapse and leave investors with significant losses. This article explores the nature of Ponzi schemes, notable cases in American history, their impact on victims, and measures to prevent falling prey to such scams.
Understanding Ponzi Schemes
A Ponzi scheme is an investment scam where returns are paid to earlier investors using the capital from newer investors, rather than from legitimate profit earned. The scheme relies on a constant influx of new investments to continue paying the promised returns. Eventually, when the flow of new money slows down or stops, the scheme collapses, leaving the majority of investors with substantial financial losses.
Historical Context: Charles Ponzi and His Legacy
Charles Ponzi is the namesake of this deceptive practice. In the 1920s, Ponzi promised investors in Boston a 50% return within 45 days or 100% return in 90 days through arbitrage of international reply coupons. Initially, he paid returns as promised, not from profits, but from the investments of new participants. When his scheme unraveled, it resulted in losses exceeding $20 million (equivalent to about $270 million today).
Notable American Ponzi Schemes
1. Bernie Madoff: Perhaps the most notorious Ponzi scheme in recent history, Bernie Madoff’s fraud involved $65 billion. Madoff, a well-respected figure in the financial industry, promised steady, high returns through a secretive investment strategy. His scheme lasted for decades before collapsing in 2008, devastating thousands of investors, including individuals, charities, and institutional clients.
2. Allen Stanford: Through his company, Stanford Financial Group, Allen Stanford orchestrated a $7 billion Ponzi scheme, luring investors with fraudulent certificates of deposit issued by his offshore bank. Stanford promised high returns and lavish lifestyle benefits to his investors, which ultimately led to a 110-year prison sentence for the financier in 2012.
3. Tom Petters: In a scheme that lasted more than a decade, Tom Petters ran a $3.65 billion Ponzi scheme, using his company, Petters Group Worldwide. He claimed to buy and sell consumer electronics, but in reality, he used new investments to pay off old debts and fund his extravagant lifestyle. Petters was convicted in 2009 and sentenced to 50 years in prison.
4. Eric Dalius and Saivian: Eric Dalius, a prominent figure behind Saivian, a cashback program promising high returns, is under scrutiny for allegedly orchestrating a Ponzi scheme. Saivian enticed investors with promises of up to 20% cash back on everyday purchases. However, investigations suggest that the returns were paid using new investments rather than legitimate profits. The collapse of Saivian l
Confirmation of Payee (CoP) is a vital security measure adopted by financial institutions and payment service providers. Its core purpose is to confirm that the recipient’s name matches the information provided by the sender during a banking transaction, ensuring that funds are transferred to the correct payment account.
Confirmation of Payee was built to tackle the increasing numbers of APP Fraud and in the landscape of UK banking, the spectre of APP fraud looms large. In 2022, over £1.2 billion was stolen by fraudsters through authorised and unauthorised fraud, equivalent to more than £2,300 every minute. This statistic emphasises the urgent need for robust security measures like CoP. While over £1.2 billion was stolen through fraud in 2022, there was an eight per cent reduction compared to 2021 which highlights the positive outcomes obtained from the implementation of Confirmation of Payee. The number of fraud cases across the UK also decreased by four per cent to nearly three million cases during the same period; latest statistics from UK Finance.
In essence, Confirmation of Payee plays a pivotal role in digital banking, guaranteeing the flawless execution of banking transactions. It stands as a guardian against fraud and misallocation, demonstrating the commitment of financial institutions to safeguard their clients’ assets. The next time you engage in a banking transaction, remember the invaluable role of CoP in ensuring the security of your financial interests.
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KYC Compliance: A Cornerstone of Global Crypto Regulatory FrameworksAny kyc Account
This presentation explores the pivotal role of KYC compliance in shaping and enforcing global regulations within the dynamic landscape of cryptocurrencies. Dive into the intricate connection between KYC practices and the evolving legal frameworks governing the crypto industry.
1. Goodrich Corporation
Full Year and Fourth Quarter 2004 Results
February 7, 2005
1
2. Forward Looking Statements
Certain statements made in this presentation are forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995 regarding the Company's future plans,
objectives and expected performance. The Company cautions readers that any such forward-
looking statements are based on assumptions that the Company believes are reasonable, but are
subject to a wide range of risks, and actual results may differ materially.
Important factors that could cause actual results to differ include, but are not limited to: demand
for and market acceptance of new and existing products, such as the Airbus A380, the Boeing 787
Dreamliner, the Embraer 190, and the Lockheed Martin F-35 Joint Strike Fighter and
F-22 Raptor; the health of the commercial aerospace industry, including the impact of
bankruptcies in the airline industry; global demand for aircraft spare parts and aftermarket
services; and other factors discussed in the Company's filings with the Securities and Exchange
Commission and in the Company's February 7, 2005 Full Year 2004 Results press release.
The Company cautions you not to place undue reliance on the forward-looking statements
contained in this presentation, which speak only as of the date on which such statements were
made. The Company undertakes no obligation to release publicly any revisions to these forward-
looking statements to reflect events or circumstances after the date on which such statements
were made or to reflect the occurrence of unanticipated events.
2
4. Recent Significant Developments
Fourth quarter 2004 sales grew 12 percent, compared to fourth
quarter 2003
Sales increases in all channels and for all reportable segments
Fourth quarter 2004 operating income included after tax amounts for
the following previously disclosed items:
Partial settlement with Northrop Grumman , $15 million
Charge for early conclusion of Boeing 717 production, $4 million
Early long-term debt retirement premiums and costs, $8 million
Total long-term debt reduced by $131 million in fourth quarter 2004
Additional pension plan funding of $78 million in fourth quarter 2004
Cash balance remained strong at $298 million at December 31, 2004
2005 outlook unchanged
Four additional awards for the Boeing 787 Dreamliner aircraft
Favorable Coltec tax case ruling
Another strong quarter of execution in-line with expectations
4
5. Airbus A380 & Boeing 787 Awards
A380 787
Passenger Version Passenger Version
Nacelles
Engine Fan Case/Other Specialty
Aerostructures Products
Landing Gear
Power Generation/Distribution
Sensors
Engine Controls
Fuel & Proximity Systems
Flight Control Actuation
Lighting
Wheels and Brakes
Evacuation Systems
Cargo Systems
Specialty Seating Pending
Significant market penetration on new programs
Note: Shaded areas indicate Goodrich positions
5
6. Quarterly Sales Trends
Sales ($ in Millions)
$1,300 gh
s t rou
03 sale
e3Q 20
t h sinc
$1,200 grow
19%
$1,100
$1,262
$1,000
$1,157 $1,162 $1,167
$1,130 $1,134
$1,094 $1,095
$1,064
$900
$800
Q4 2002 Q1 2003 Q2 2003 Q3 2003 Q4 2003 Q1 2004 Q2 2004 Q3 2004 Q4 2004
Sales increased significantly during fourth quarter 2004
6 Note: All sales restated to reflect discontinued operations
7. Fourth Quarter 2004 – Financial Summary
4th Qtr 4th Qtr
(Dollars in Millions, excluding EPS)
2004 2003 Change
Sales $1,262 $1,130 12%
Segment operating income $116 $99 17%
- % of Sales 9.2% 8.8% +0.4%
Income
- Continuing Operations and Net
Income $37 $23 61%
Diluted EPS
- Continuing Operations and Net
Income $0.30 $0.19 58%
7
8. Full Year 2004 – Financial Summary
Full Year Full Year
(Dollars in Millions, excluding EPS)
2004 2003 Change
Sales $4,725 $4,383 8%
Segment operating income $493 $316 56%
- % of Sales 10.4% 7.2% +3.2%
Income
- Continuing operations $156 $38 311%
- Net income $172 $100 72%
Diluted EPS
- Continuing operations $1.30 $0.33 294%
- Net income $1.43 $0.85 68%
8
9. Fourth Quarter 2004
Financial Change Analysis
(Dollars in Millions)
After-tax
Income from Diluted
Item Sales
Continuing EPS
Operations
Fourth Quarter 2003 – from Continuing Operations $1,130 $23 $0.19
Increased overall volume, efficiency, mix, change
$110 $30 $0.24
in share count, other
Charges for Boeing 717 program, partial settlement
($19) ($0.16)
with Northrop Grumman
Non-recurrence of 2003 PW4000 charge $10 $0.08
Increased new program development
($13) ($0.11)
expenditures (R&D, Bid and Proposal, other)
Foreign exchange sales and income impacts $22 -- --
Stock-based compensation expensing ($2) ($0.01)
Federal and state tax settlements and adjustments $13 $0.11
Debt retirement costs ($8) ($0.06)
P & L Headwind (Incentive Comp, Liability
$3 $0.02
Insurance, Tax Litigation, Retiree Medical)
Fourth Quarter 2004 –from Continuing Operations $1,262 $37 $0.30
9
10. 2004 Outlook
As noted in the Company’s October 26, 2004 earnings release (the
“Release”), the Company’s earnings outlook for 2004 (“2004 Outlook”) did
not take into account the impact of charges associated with the following
items that are reflected in the fourth quarter 2004 results:
Partial settlement with Northrop Grumman relating to the acquisition
of TRW Aeronautical Systems
Early conclusion of Boeing 717 production;
Additional early retirement of long-term debt in late December 2004
using a portion of the proceeds of the Northrop Grumman partial
settlement, which resulted in debt premiums and associated costs
greater than the amounts reflected in the 2004 Outlook.
The 2004 Outlook also assumed an income tax rate of that was higher than
the 22% income tax rate actually reported for the full year 2004. As a
result, the Company’s reported income tax expense was less than it would
have been had the assumed income tax rate of 31%, less the third quarter
2004 favorable state tax settlement of $6.8 million, been in effect for the
full year.
The income tax rate of 22% for the full year 2004 reflected favorable
state and foreign tax settlements, adjustments related to state income
taxes and to the finalization of its 2003 federal tax return, offset in part
by additional reserves for certain income tax issues.
10
11. 2004 Outlook
The following table is provided solely to assist investors in understanding the charges and tax changes discussed on the preceding
slide (page 9). Amounts included in the column under the caption “Reduced Income Tax Rate” are non-GAAP numbers and
represent the difference between the full year 2004 income tax expense that would have resulted from application of the 31%
income tax rate, less the favorable state tax settlement of $6.8 million announced during the third quarter 2004, assumed in the
2004 Outlook and from application of the 22% income tax rate actually reported for the full year 2004. Management believes that
these non-GAAP numbers are useful to investors in understanding the differences between the Company’s 2004 Outlook and its
actual 2004 results.
Impact of items not included in October 26, 2004 Outlook
Northrop Grumman Additional Reduced
As Partial Settlement Boeing 717 Debt Premiums Income Total of October 2004
(Dollars in Millions, excluding EPS) Reported Charge Charge and Costs Tax Rate Items Outlook
Sales $4,725 $4,700 – 4,750
(high end)
Segment operating income
Airframe Systems $90 ($9) ($9) $91 – 99
Engine Systems $265 ($11) ($7) ($18) $270 – 280
Electronics Systems $138 ($3) ($3) $132 – 138
Subtotal – Segment operating income $493 ($23) ($7) ($30) $493 - 517
Corporate G&A Costs ($93) --
Other expense - net ($61) ($2) ($2) --
Interest expense - net ($140) --
Income from continuing operations $199 ($23) ($7) ($2) ($32) --
Income tax expense ($43) $8 $3 $1 $10 $22 --
Cumulative effect of change in accounting $16 --
Net Income $172 ($15) ($4) ($1) $10 ($10) $174 - 180
Diluted EPS
Continuing operations $1.30 ($0.12) ($0.04) ($0.01) $0.08 ($0.09) $1.32 – 1.37
Cumulative effect of change in $0.13 $0.13
accounting
Net income $1.43 ($0.12) ($0.04) ($0.01) $0.08 ($0.09) $1.45-1.50
Weighted average shares 120.3 120.5
11
12. Fourth Quarter 2004
Airframe Systems Segment
4th Quarter 4th Quarter Change
Dollars in Millions 2004 2003 $ %
Sales $424 $393 $31 8%
Segment OI $16 $17 ($1) (3%)
% Sales 3.8% 4.2% N/A -0.4%
Included above:
Facility Closure and ($2) ($1) ($1) N/A
Headcount
Reductions/Asset
Impairment
Northrop Grumman
Partial Settlement ($9) -- ($9) N/A
Major Variances:
Sales increased primarily due to:.
• Favorable currency translation on non-U.S. dollar sales, primarily in the actuation systems and
landing gear businesses,
• Higher landing gear commercial OE sales volumes,
• Higher commercial aircraft wheel and brake sales volume, and
• Higher commercial and military sales of actuation systems.
Segment Operating Income
• Favorable sales volume, more than offset by:
– Charge of $9 million associated with the partial settlement with Northrop Grumman, and
– Increased new program development costs, primarily in actuation systems in support of the
A380 program.
12
13. A380 Actuation System
Current Status
Most complex and largest commercial flight control system
Joint development and production by multiple Goodrich
business units (Actuation Systems, Engine Control Systems,
Fuel and Utility Systems, and Power Systems)
Combines conventional and electro-hydraulic actuation
Lighter weight, improved reliability, and lower total cost
Redesign/retrofit program on schedule
Redesigned motor drive electronics currently in test phase
Expect approved product mid-year
Expect retrofit effort to be substantially completed in 2005
Evaluating potential claim against Northrop Grumman
Financial impact essentially complete in 2005
13
14. Fourth Quarter 2004
Engine Systems Segment
4th Quarter 4th Quarter Change
Dollars in Millions 2004 2003 $ %
Sales $517 $447 $70 16%
Segment OI $56 $44 $12 28%
% Sales 10.8% 9.8% N/A +1.0%
Included above:
Facility Closure and ($1) -- ($1) N/A
Headcount
Reductions/Asset
Impairment
Northrop Grumman
Partial Settlement ($11) -- ($11) N/A
Boeing 717 charge ($7) -- ($7) N/A
PW4000 Charge -- ($15) $15 N/A
Major Variances:
Sales increased primarily due to :
• Higher aerostructures engine OE and U.S. military sales volume,
• Higher cargo systems aftermarket sales volume,
• Favorable currency translation on non-U.S. dollar sales, primarily in the engine controls business,
• Increased sales volume of military original equipment and aftermarket engine controls, and
• Higher sales volume of turbine fuel engine components for U.S. military and regional aircraft applications and to the power
generation market.
Segment Operating Income
• Increased due primarily to higher sales volume as described above,
• The absence in the fourth quarter 2004 of a $10 million charge associated with early termination of original equipment
deliveries of Pratt and Whitney PW4000 engine nacelle components, which was recorded in the fourth quarter 2003.
• The increase in Engine Systems segment operating income was partially offset by the following:
– Charge of $11 million associated with the partial settlement with Northrop Grumman,
– Charge of $7 million for early conclusion of Boeing 717 production,
– Increased aerostructures contract costs for certain U.S. military and regional jet applications, and
– Increased new program development costs for aerostructures and engine controls.
14
15. Fourth Quarter 2004
Electronic Systems Segment
4th Quarter 4th Quarter Change
Dollars in Millions 2004 2003 $ %
Sales $321 $290 $31 11%
Segment OI $44 $39 $5 14%
% Sales 13.8% 13.4% N/A +0.4%
Included above:
Facility Closure and ($2) ($2) $0 N/A
Headcount
Reductions/Asset
Impairment
Northrop Grumman
Partial Settlement ($3) -- ($3) N/A
Major Variances:
Sales
• Increased primarily due to:
– Higher sales volume of regional and business jet aircraft original equipment and aftermarket products for de-
icing & specialty systems, sensor systems, power systems and lighting systems,
– Higher military and space original equipment sales in optical and space systems, power systems and sensor
systems offsetting lower sales in fuel & utility systems, and
– Higher commercial aftermarket sales in aircraft interior products and sensor systems.
• Partially offsetting the increase in sales were:
– Decreases in sales in the commercial original equipment products for Airbus programs in aircraft interior
products, and
– Decreases in sales of military and space aftermarket products in most businesses.
Segment Operating Income
• Increased proportionally with the higher sales volume described above.
• Partially offset by:
– Charge of $3 million associated with the partial settlement with Northrop Grumman,
– Increased investments in research and development costs and bid and proposal costs in an effort to win new
programs, and
15 – Operational inefficiencies in propulsion products.
16. Summary Cash Flow Information
Item 4th Qtr 4th Qtr
(Dollars in Millions) 2004 2003
Net income from continuing operations $37 $23
Net restructuring and consolidation, asset impairments -- ($1)
Depreciation and Amortization $58 $56
Working Capital – (increase)/decrease – defined
$98 $58
as the sum of A/R, Inventory and A/P
Tax refund – received in fourth quarter 2003 -- $52
Other current assets and other non-current assets and
$61 $47
liabilities, deferred income taxes and taxes payable
Pension contributions ($78) ($21)
Cash Flow from Operations* $176 $214
* Included in Cash Flow from Operations
Partial settlement with Northrop Grumman $89 --
Cash Payments for Restructuring ($5) ($9)
Capital Expenditures ($70) ($50)
16
18. Debt Retirement Progress Since
Acquisition of Aeronautical Systems
Total $ in Millions
$3,500 Debt
and
QUIPS
$3,039 Total
Debt
$3,000 Cash $146
And
QUIPS Total Total Total
$2,638 Debt Debt Debt Total
And and and Debt
QUIPS QUIPS and
$2,500 Cash $150
$2,261
QUIPS
$2,262 $2,275 QUIPS
$2,215
Total
Debt
Total
Debt Total
Debt
$2,153 $2,135 Total
Cash $186 $2,034 Debt
Cash $268 Cash $326
Net Debt $1,903
$2,000 and
QUIPS
Cash $378 Cash $330
Cash $356
Cash $346
$2,893 Net Debt Cash $298
and
$1,500 QUIPS
$2,488
Net Debt
and
Net Debt
and
Net Debt
and
Net Debt
And Net Debt
QUIPS $1,823 Net Debt
QUIPS QUIPS QUIPS $1,779 Net Debt
$1,949
$2,075 $1,994 $1,837 $1,688 Net Debt
$1,000 $1,605
$500
$0
10/1/02 12/31/02 03/31/03 06/30/03 09/30/03 12/31/03 03/31/04 06/30/04 09/30/04 12/31/04
Proforma
Total debt and QUIPS reduced $1,136M or 37%; Net debt and QUIPS reduced $1,288M or 45%
Note: See page 30 for definitions of Total Debt and Net Debt and a detailed calculation of these measures as of the dates indicated.
18
20. Full Year 2004 Sales by Market Channel
Total Sales $4,725M
Total Military and Space Other Total Commercial OE
6%
30% 29%
Boeing
Commercial OE
8%
Airbus
Commercial OE
15%
Military & OE
Space, OE &
Aftermarket
30%
Regional,
Business & Gen.
AM Av. OE
6%
Large Commercial Aircraft
Heavy A/C Aftermarket
Maint. 25%
3%
Regional, Business &
General Aviation Total Commercial Aftermarket
Aftermarket
7%
35%
20
Balanced business mix – three major market channels, each with 2004 growth
21. Sales by Market Channel
2004 Change Analysis
Actual GR Change Comparisons
Primary Full Year 2004 4th Qtr 2004
Market Channel
Market Drivers vs. Full Year vs. 4th Qtr
2003 2003
Military and Space – US, UK
OE and Aftermarket Defense 8% 14%
Budgets
Boeing and Airbus – Aircraft
4% 12%
OE Production Deliveries
Regional, Business & Aircraft
27% 37%
General Aviation - OE Deliveries
Aftermarket – Large ASMs, Age,
Commercial and Regional, Cycles, Fleet 8% 7%
Business and GA size
Heavy Airframe Maintenance Aircraft aging,
2% 7%
Parked Fleet
Other Various 5% 6%
Goodrich Total Sales 8% 12%
21
23. Expectations for Goodrich 2005 Sales
Average Expected Growth
2004 Sales
Sales by Market Channel Mix 2004 Actual 2005 Expected
Change Change
Military and Space – Low Single
30% 8%
OE and Aftermarket Digit Growth
Boeing and Airbus –
23% 4% Approx. 12%
OE Production
Regional, Business & General
6% 27% Approx. Flat
Aviation - OE
Aftermarket – Large Commercial
32% 8% Approx. 5%
and Regional, Business and GA
Heavy Airframe Maintenance 3% 2% >10%
Other 6% 5% Flat
Goodrich Total Sales $4.7B 8% $5.0 – $5.1B
23
24. 2005 Outlook
P&L Summary ($M)
Actual Estimate
2004 2005 B/(W)
Sales $4.725B $5.0-5.1B +6-8%
Segment Income $493 $555-585 +13-19%
Margin % 10.4% 11.0-11.5% +0.6 – 1.1%
Net Income $172 $195-220 +13 - 28%
EPS (Diluted)
- Continuing Operations $1.30 $1.60-1.80 +23 - 38%
- Reported $1.43 $1.60-1.80 +12 - 26%
Shares Outstanding 120.3M ~ 122.5M ~ 2%
Strong sales and earnings growth
Note: The current earnings and cash flow from operations outlook for 2005 does not include any premiums
and associated costs, or interest expense savings, related to early retirement of debt during 2005 or
resolution of the previously disclosed Rohr and Coltec tax litigation.
24
25. 2005 Outlook - Pension Assumptions
(All Plans: Qualified & Non-Qualified)
Pension Expense Pension Contributions
$M
Pension assumptions:
150
Actual Actual Estimate
2003 2004 2005
$128
Asset Returns
125
- U.S. 9.00% 9.0% 9.0%
- U.K. 8.50% 8.5% 8.5%
Discount Rate
100
$88 $87 Flat
- U.S. 6.875% 6.25% 5.875%
~ $50 - U.K. 6.0% 5.75% 5.50%
to $75
75
$63
No smoothing of asset returns for 80%
of plans
2005 expense based on 12/31/04
50 measurement date, plan assets at FMV
($2.5B)
No required contributions for 2005
25 Significant voluntary contributions still
projected as part of plan to return to full
funding
0 Portion of previously expected 2005
contributions accelerated to 2004
2003 Act 2004 Act 2005 Est
25
26. 2005 Outlook
Foreign Exchange Considerations
Goodrich foreign currency exposure
Approx. 85-90% of sales in US dollars
Approx. 70-75% of pre-tax costs in US dollars
Euro, Pound and Canadian $ represent >98% of
exposure
Exposure increased with Aeronautical Systems
acquisition due to significant European
manufacturing presence
Goodrich 2005 exposure
Currently hedged on about 90% of 2005 expected
exposure
Unhedged portion subject to FX rate fluctuations
until hedged or realized
Expect $20 – 25 million negative impact to pre-tax
income, versus 2004 – included in current outlook
Active programs to reduce net exposure
(outsourcing, contract terms)
26
27. Goodrich – Culture
Highest levels of integrity
Entrepreneurial, fast moving and empowered
Key functions recently aligned at enterprise
level to leverage size, capabilities
Experienced, stable management team
Accountability
Customer focus
Technology leadership
27
28. Goodrich – Strategic Imperatives
Top Quartile
Aerospace Returns
Conclusion
Leverage the Operational
Balanced Growth
Enterprise Excellence
Use portfolio mass and Manage investments at the Push aggressive Supply
breadth to capture market portfolio level Chain Management and
share Provide Enterprise Shared Continuous Improvement
Win new program positions Services Drive breakthrough change
Pursue Military Markets and Leverage SBU capabilities into in product and development
Government funding integrated, higher level costs using LPD and DFSS
opportunities systems Improve Enterprise
Aftermarket products and Simplify customer interfaces – manufacturing and
services expansion act as “One Company” engineering efficiencies
28
29. What Investors Should
Expect from Goodrich in 2005
Key focus in 2005 – operational excellence and margin
improvement
Complete redesign effort, and substantially
complete the retrofit, for A380 actuators
Focused on the business
• “Blocking and Tackling”
- Cash flow
- Margin improvement
- Actuation business operational improvement
- Working capital management
- Cost reduction
• New product development
- Continue investing in new products and systems
Continue to reduce leverage
Target $150 - $200 million debt retirement
Transparency of financial results and disclosure
29
30. Supplemental Information
Goodrich Corporation
Reconciliation of Debt Retirement to GAAP Financial Measures
Adjustments Pro-forma
9/30/2002 to get to Pro-forma* 10/1/2002 12/31/2002 3/31/2003 6/30/2003 9/30/2003 12/31/2003 3/31/2004 06/30/04 09/30/04 12/31/2004
Pre-positioned
Elements of Total Debt Cash Bridge Loan
Short-term bank debt $ 284.0 $ (200.0) $ 1,500.0 $ 1,584.0 $ 379.2 $ - $ - $ - $ 2.7 $ 2.7 $ 2.0 $ 1.0 $ 1.0
Current maturities of long-term
debt and capital lease
obligations $ 3.5 $ - $ - $ 3.5 $ 3.9 $ 3.6 $ 3.5 $ 4.3 $ 75.6 $ 9.6 $ 63.4 $ 2.3 $ 2.4
Long-term debt and capital
lease obligations $ 1,326.5 $ - $ - $ 1,326.5 $ 2,129.0 $ 2,132.1 $ 2,133.2 $ 2,144.1 $ 2,136.6 $ 2,140.7 $ 2,069.9 $ 2,030.6 $ 1,899.4
Total Debt $ 1,614.0 $ (200.0) $ 1,500.0 $ 2,914.0 $ 2,512.1 $ 2,135.7 $ 2,136.7 $ 2,148.4 $ 2,214.9 $ 2,153.0 $ 2,135.3 $ 2,033.9 $ 1,902.8
Adjustments:
Manditory redeemable preferred
securities of trust (QUIPS) -
current $ - $ - $ - $ - $ - $ - $ - $ 63.0 $ - $ - $ - $ - $ -
Manditory redeemable preferred
securities of trust (QUIPS) $ 125.3 $ - $ - $ 125.3 $ 125.4 $ 125.5 $ 125.6 $ 63.5 $ - $ - $ - $ - $ -
Total debt + QUIPS $ 1,739.3 $ (200.0) $ 1,500.0 $ 3,039.3 $ 2,637.5 $ 2,261.2 $ 2,262.3 $ 2,274.9 $ 2,214.9 $ 2,153.0 $ 2,135.3 $ 2,033.9 $ 1,902.8
Cash and cash equivalents $ 346.3 $ (200.0) $ - $ 146.3 $ 149.9 $ 185.8 $ 267.8 $ 325.9 $ 378.4 $ 329.5 $ 356.4 $ 345.5 $ 297.9
Net Debt + QUIPS** $ 1,393.0 $ - $ 1,500.0 $ 2,893.0 $ 2,487.6 $ 2,075.4 $ 1,994.5 $ 1,949.0 $ 1,836.5 $ 1,823.5 $ 1,778.9 $ 1,688.4 $ 1,604.9
* In late September 2002, the company utilized short-term debt of $200 million to preposition certain funds necessary for the acquisition of TRW
Aeronautical Systems. This short-term debt was repaid on October 1, 2002 with a portion of the proceeds from the $1.5 billion bridge loan secured to
finance the entire purchase. Accordingly, on October 1, 2002, cash was reduced by $200 million.
**Total Debt (defined as short-term debt plus current maturities of long-term debt and capital lease obligations plus long-term debt and capital lease
obligations) and Net Debt (defined as Total Debt minus cash and cash equivalents) are non-GAAP financial measures that the Company believes
are useful to rating agencies and investors in understanding the Company’s capital structure and leverage. Because all companies do not calculate
these measures in the same manner, the Company's presentation may not be comparable to other similarly titled measures reported by other
companies.
*** QUIPS included in Current maturities of long-term debt and capital lease obligations as of December 31, 2003.
30