Goodrich and Kelly Services Inc. Shares Climb After Earnings
Goodrich Corporation (NYSE:GR) reported net income above Wall Street’s expectations for the fourth quarter. Net income for the aerospace/defense products and services company rose to $237.9 million ($1.85 per share) vs. $148.3 million ($1.16 per share) in the same quarter a year earlier. This marks a rise of 60.4% from the year earlier quarter. Revenue rose 18.8% to $2.15 billion from the year earlier quarter. Goodrich Corporation beat the mean analyst estimate of $1.57 per share. Analysts were expecting revenue of $2.13 billion.
Marshall Larsen, Chairman, President and Chief Executive Officer said, “Goodrich’s fourth quarter results provided us with an excellent finish to a very eventful 2011. Thanks to the diligent efforts of all of our employees, we significantly exceeded expectations for earnings and cash flow for the fourth quarter and for the full year of 2011 and reached record levels of sales and profitability. Our sales growth of 16 percent for the full year 2011 was very broad-based. Our large commercial airplane original equipment sales grew by 18 percent as we continued to support production rate increases by Airbus and Boeing. Our commercial aftermarket sales grew by 15 percent, and our defense and space sales grew by 10 percent, which included six percent organic growth.”
Competitors to Watch: Honeywell Intl. Inc. (NYSE:HON), Triumph Group, Inc. (NYSE:TGI), Esterline Tech. Corp. (NYSE:ESL), United Technologies Corp. (NYSE:UTX), HEICO Corporation (NYSE:HEI), The Boeing Company (NYSE:BA), EDAC Technologies Corp. (NASDAQ:EDAC), SIFCO Industries, Inc. (AMEX:SIF) and Breeze-Eastern Corporation (AMEX:BZC).
Kelly Services Inc. (NASDAQ:KELYA) reported net income above Wall Street’s expectations for the fourth quarter. Net income for Kelly Services Inc. rose to $24.1 million (64 cents per share) vs. $14.6 million (39 cents per share) in the same quarter a year earlier. This marks a rise of 65.1% from the year earlier quarter. Revenue rose 5.3% to $1.4 billion from the year earlier quarter. Kelly Services Inc. beat the mean analyst estimate of 43 cents per share. Analysts were expecting revenue of $1.41 billion.
Carl T. Camden, President and Chief Executive Officer, stated, “Despite unsettled global economic conditions, we’re pleased to report a successful quarter and year. Our performance was fueled by a sustained demand for flexible staffing, improvements in the overall job market, and our own drive to achieve operational excellence.”
Competitors to Watch: SFN Group Inc (NYSE:SFN), Barrett Business Services, Inc. (NASDAQ:BBSI), Robert Half Intl. Inc. (NYSE:RHI), Kforce Inc. (NASDAQ:KFRC), TrueBlue, Inc. (NYSE:TBI), ManpowerGroup (NYSE:MAN), Volt Information Sciences, Inc. (NYSE:VOL), and On Assignment, Inc. (NASDAQ:ASGN).
To contact the reporter on this story: Derek Hoffman at email@example.com
To contact the editor responsible for this story: Damien Hoffman at firstname.lastname@example.org