Spirit AeroSystems posts quarterly loss after big charges

Mon Aug 12, 2013 4:34pm EDT

Related Topics

(Reuters) - Spirit AeroSystems Holdings (SPR.N), a supplier of aircraft parts, reported a second-quarter loss on Monday as it took charges tied to expected cost increases for airplane programs.

The loss was $209.4 million, or $1.47 a diluted share, compared with a profit of $34.9 million, or 24 cents a share, in the year earlier quarter.

Results included pretax charges of $448 million, or $2.61 a share, tied mainly to Gulfstream (GD.N) business jet programs.

Spirit AeroSystems, which was spun off from Boeing (BA.N) in 2005, said last week that it plans to sell its Oklahoma operations that handle wing design for Gulfstream jets and develop wing parts for several Boeing models.

The company had delayed its earnings report that was previously scheduled for August 6, saying auditors had not finished their review.

(Reporting by Karen Jacobs in Atlanta; Editing by Phil Berlowitz)

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