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ROCKWELL COLLINS INC

No Longer Reporting

The company has not filed an annual or quarterly report since its FY2018 10-K, filed Nov 26, 2018. Its latest SEC filing is a 15-12B from Dec 7, 2018.

The sections below describe the company as of the FY2018 annual report.

What Did They Do?

Designs aircraft cabin interiors and aviation electronics, and provides communications and information services to airlines, aircraft makers and government customers.

How Did They Make Money?

Customers buy products and services; most sales count when products are delivered and accepted or services are done. Long-term contracts count as products ship or work progresses, while maintenance sales are spread over the contract term or tied to labor or flight hours used.

FY2018 revenue

Who Were Their Customers?

Commercial airlines, aircraft makers and business-aircraft operators, government agencies and defense contractors, and airports, railroads and infrastructure operators buy its systems and services. Rockwell Collins sells directly through its own sales force, with dealers distributing products and international representatives assisting with overseas sales.

Customers above 10% of revenue, FY2018
of revenue from two customers (23%, 16%)

Did Revenues Turn Into Profits?

Yes. It kept 12 cents of every revenue dollar as net income in FY2018, but spent more cash than it brought in: free cash flow was −$567M.

Operating income, FY2018
19% of revenue
▲ +22% vs FY2017 ($1.3B, 19%)
Net income, FY2018
12% of revenue
▲ +46% vs FY2017 ($705M, 10%)
Free cash flow, FY2018
−7% of revenue
▼ Now a loss vs FY2017 ($1B, 15%)

How Were They Changing?

Since the FY2018 annual report
  • Nov 27, 2018 UTC completed its acquisition of Rockwell Collins Rockwell Collins became a wholly owned UTC subsidiary, and its shares were set to be removed from the NYSE listing.

Grew. Revenue grew 74% in 4 years, from $5B in FY2014 to $8.7B in FY2018, about 15% a year.

Cabin interior products The latest report adds cabin interiors through the Interior Systems business, including aircraft seats and other cabin products for commercial aircraft and business aviation; the older report describes communications and aviation systems.

Who Did They Compete With?

Competes with BAE Systems Aerospace, CAE, Diehl Aerosystems Holding GmBH, Elbit Systems, Esterline Technologies, FlightSafety International, Garmin International, General Dynamics, General Electric, Harris, Honeywell International, Jamco America, L3 Communications, Northrop Grumman, Raytheon, Recaro Aircraft Seating, Safran, Satcom Direct, SITA, and Thales

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