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Spirit AeroSystems posts quarterly loss after big charges
August 12, 2013 / 8:35 PM / 4 years ago

Spirit AeroSystems posts quarterly loss after big charges

Aug 12 (Reuters) - Spirit AeroSystems Holdings, 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 business jet programs.

Spirit AeroSystems, which was spun off from Boeing 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 Aug. 6, saying auditors had not finished their review.

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