Aircraft component maker Rockwell Collins Inc raised its revenue forecast for the fiscal year after the company completed the acquisition of aircraft seat maker B/E Aerospace.
Rockwell, which makes avionics and other aircraft electronic systems, said it expected fiscal 2017 revenue to be $6.7 billion-$6.8 billion, from its previous forecast of $5.3 billion-$5.4 billion.
The company completed the acquisition of B/E Aerospace last week and said on Friday it would operate as a new interior systems segment within Rockwell Collins.
Rockwell also benefited in the quarter from higher sales at its government systems and information management services units.
However, sales at it commercial systems unit fell 2.8 percent due to lower business jet production.
Net income fell to $168 million, or $1.27 per share, in the second quarter ended March 31, from $171 million, or $1.29 per share, a year earlier.
Revenue rose 2.4 percent to $1.34 billion.
Analysts on average were expecting a profit of $1.30 per share and revenue of $1.33 billion, according to Thomson Reuters I/B/E/S. (Reporting by Arunima Banerjee in Bengaluru; Editing by Shounak Dasgupta)