CORRECTED-UPDATE 1-Boeing supplier Spirit AeroSystems stands by 2013 forecast

Tue Feb 12, 2013 12:48pm EST

(Corrects paragraph 3 to clarify that Boeing said its forecast did not account for any potential impact from the Dreamliner grounding. The company did not say the grounding would have no significant impact)

* Reiterates 2013 revenue and earnings outlook

* Forecast based on Boeing's delivery outlook, including Dreamliner

* Fourth-quarter earnings per share $0.43, vs est $0.41

* Revenue up 17 pct

Feb 12 (Reuters) - Spirit AeroSystems Holdings Inc, which supplies parts for aircraft including Boeing Co's Dreamliner, reported better-than-expected quarterly results on strong global orders for aircraft and reiterated its 2013 outlook.

Spirit did not mention any impact on the company from the worldwide grounding of Boeing 787 Dreamliners on Jan. 16 after a series of battery-related incidents.

Boeing said last month its 2013 forecast did not take into account any potential impact from the grounding of the Dreamliner. Its suppliers have been in focus amid concerns that aircraft delivery schedules might get disrupted.

Spirit, which is Boeing's biggest supplier of fuselages and wing components, also makes parts for Airbus and other jet makers. It has benefited recently from rising commercial aircraft production.

In the quarter ended December, revenue rose 17 percent to $1.43 billion.

Spirit's order backlog at the end of the quarter was $35 billion, up about 4 percent from a year earlier. Net income edged up to $60.7 million, or 43 cents per share, from $60.4 million, or 42 cents a share.

Analysts on average were looking for earnings of 41 cents per share on revenue of $1.37 billion, according to Thomson Reuters I/B/E/S.

The company's shares, which have gained 6 percent in the last three months, closed at $16.13 on Monday on the New York Stock Exchange. (Reporting by Bijoy Koyitty in Bangalore; Editing by Sreejiraj Eluvangal)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.