The outlook for 2009 income from continuing operations and net income per
diluted share is for a range of
The 2009 outlook includes, among other factors:
-- Compared to 2008, higher pre-tax pension expense of
-- A full-year effective tax rate of 31 - 32 percent for 2009, and
-- Favorable foreign exchange translation costs for 2009 that are
For 2009, Goodrich expects net cash provided by operating activities,
minus capital expenditures, to exceed 75 percent of net income, including the
impact of announced delays in the Boeing 787 Dreamliner and the Airbus A380
airplane programs. This outlook reflects a continuation of investments to
support these programs, the Airbus A350 XWB and low-cost country manufacturing
and productivity initiatives that are expected to enhance margins over the
near and long term. The company now expects capital expenditures for 2009 to
be in a range of
The current sales, net income and net cash provided by operating activities outlooks for 2009 do not include the impact of acquisitions or divestitures.
The supplemental discussion and tables that follow provide more detailed information about the fourth quarter 2008 segment results.
Goodrich will hold a conference call on February 4, 2009 at 10:00 AM U.S. Eastern Time to discuss this announcement. Interested parties can listen to a live webcast of the conference call, and view the related presentation materials, at www.goodrich.com, or listen via telephone by dialing 913-312-1235.
Goodrich Corporation, a Fortune 500 company, is a global supplier of systems and services to aerospace, defense and homeland security markets. With one of the most strategically diversified portfolios of products in the industry, Goodrich serves a global customer base with significant worldwide manufacturing and service facilities. For more information visit http://www.goodrich.com.
FORWARD-LOOKING INFORMATION IS SUBJECT TO RISK AND UNCERTAINTY
Certain statements made in this document are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding our future plans, objectives and expected performance. Specifically, statements that are not historical facts, including statements accompanied by words such as "believe," "expect," "anticipate," "intend," "should," "estimate," or "plan," are intended to identify forward-looking statements and convey the uncertainty of future events or outcomes. We caution readers that any such forward-looking statements are based on assumptions that we believe are reasonable, but are subject to a wide range of risks, and actual results may differ materially.
Important factors that could cause actual results to differ from expected performance include, but are not limited to:
-- demand for and market acceptance of new and existing products, such as the Airbus A350 XWB and A380, the Boeing 787 Dreamliner, the EMBRAER 190, the Mitsubishi Regional Jet (MRJ), the Bombardier CSeries, the Dassault Falcon 7X and the Lockheed Martin F-35 Lightning II and F-22 Raptor;
-- our ability to extend our commercial OE contracts beyond the initial contract periods;
-- cancellation or delays of orders or contracts by customers or with suppliers, including delays or cancellations associated with the Boeing 787 Dreamliner, the Airbus A380 and A350 XWB aircraft programs, and major military programs;