Aviation electronics supplier Rockwell Collins Inc reported a lower-than-expected quarterly profit on Friday, hurt by weaker defense sales as the United States curbs military spending.
Net income was $175 million, or $1.28 a share, in the fiscal fourth quarter ended Sept. 30, compared with $152 million, or $1.06 a share, a year earlier.
Analysts expected $1.31 a share, according to Thomson Reuters I/B/E/S.
Sales fell 1 percent to $1.25 billion. Commercial system sales rose 3 percent, while government-related sales dropped 5 percent.
The company has reduced its business in some defense segments and cut jobs as U.S. military spending has waned. It is looking to bolster its commercial business by acquiring Arinc, which designs systems that help airline pilots communicate with the ground.