Posted on 07/29/2004 9:04:05 AM PDT by BenLurkin
NEW YORK (Reuters) - Aircraft equipment maker Goodrich Corp. (GR) on Thursday posted second-quarter net earnings that more than doubled and raised its full-year outlook, helped by strong sales of commercial and military airplane gear and lower restructuring charges.
Shares rose 0.8 percent to their highest level in more than two years.
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The maker of landing gear, brakes and lighting systems reported net income of $38.8 million, or 32 cents per share, up from $14.4 million, or 12 cents per share, a year earlier.
Sales rose 4 percent to $1.13 billion from $1.10 billion.
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Looking ahead, Goodrich raised its forecast for 2004 sales to a range of $4.70 billion to $4.75 billion from its earlier forecast for $4.65 billion to $4.70 billion.
Goodrich raised its earnings outlook range to $1.30 to $1.40 per share from its earlier range of $1.20 to $1.35. Analysts were estimating $1.35 per share on revenues of $4.66 billion.
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Shares of Goodrich were up 27 cents to $33.60, their highest level since May of 2002.
© 2004 Reuters
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