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Sikorsky reprieve helps UTC profit

23rd January 2014 - 14:24 GMT | by Jonathan Tringham in London


United Technologies Corporations (UTC) has posted higher than expected fourth-quarter revenues, after Sikorsky was granted a last-minute reprieve on the delivery of eight CH-148 helicopters to Canada. 

UTC reported mixed results in its end of year earnings statement released on 22 January, which revealed a drop in fourth-quarter net profits, and a slight increase in revenues.

In a conference call, Greg Hayes, chief financial officer of United Technologies, said postponing the handover of the CH-148 Cyclones for Canada’s Maritime Helicopter Project (CMHP) had produced a net benefit of 6 cents a share. 

‘We did not recognize revenue on any

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Jonathan Tringham


Jonathan Tringham

Jonathan Tringham is a former Shephard staff reporter based in the UK. Jonathan worked in …

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