EVERETT – Goodrich Corp. said Thursday that its profits grew nearly 7 percent during the most recent quarter, and it told investors that its prospects for the rest of the year are improving.
The North Carolina-based corporation, which has two facilities in Everett and is building a third, reported a net income of $81 million for the quarter, up from $75.7 million during the same period last year.
On a per-share bases, earnings increased to 64 cents from 61 cents, the corporation said. Sales increased 10 percent, to $1.48 billion, Goodrich said.
Much of the growth came in Goodrich’s Airframe Systems segment, which includes the Everett plants, where it builds landing gear for Boeing Co. jets and does heavy maintenance on airliners.
Overall, the segment reported an operating profit of $28 million, which was more than double the operating profit of $10.8 million for last year’s second quarter.
Landing gear was a particularly profitable business during the quarter, the corporation said, with sales climbing to $43 million for new and aftermarket gear.
Goodrich, which is supplying landing gear and other parts for Airbus’ A380, said delays in delivering the superjumbo will have “a negligible impact” on income over the next two years.
Goodrich said it expects to end the year with a 15 percent increase in sales of parts to Boeing and Airbus, and a 10 percent growth in sales of parts and services to airlines. As a result, it raised its projections for sales for the year, to between $5.75 billion and $5.85 billion.
Previously the company said it expected sales between $5.6 billion and $5.7 billion.
Goodrich now sees 2006 net income between $3.40 and $3.55 per share. At the end of the first quarter, the company said it expected earnings between $3.38 to $3.58 per share for the year, the Associated Press reported.
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