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Spirit AeroSystems Q4'13 turnover rises 5%

07 Feb '14

1 min read

Spirit AeroSystems Holdings, Inc. reported fourth quarter and full-year 2013 financial results reflecting record high revenue on higher ship set deliveries and strong mature program operating performance.

Spirit’s fourth quarter 2013 revenues were $1.5 billion, up from $1.4 billion for the same period of 2012 due to increased production deliveries during the quarter.

Key Announcements

-Strategic and Financial Review Now Complete

-Recorded pre-tax charge of ($546) million, and established non-cash valuation

allowance of ($381) million

-Providing Full-Year 2014 Guidance: Revenues $6.5 - $6.7 billion, Earnings Per Share

of $2.50 - $2.65, Adjusted Free Cash Flow approximately $150 million

Fourth Quarter 2013 Consolidated Results

-Total Revenues of $1.5 billion, up 5% y/y

-Reports fully diluted EPS loss of ($4.15)

-Cash From Operations of $61 million, adjusted Free Cash Flow of $6 million

-Records net pre-tax charges of ($546) million, primarily on the 787 program

-Establishes non-cash valuation allowance of ($381) million against U.S. net deferred