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The Board of Directors of Rockwell Collins (NYSE:COL) has
authorized the company to purchase an additional $500 million of
Rockwell Collins common stock. With this announcement, the amount of
share repurchases authorized by the company's Board since the
inception of the program in December 2001 now totals $2.5 billion.
"Over the past six years, we have enhanced shareowner value by
deploying approximately two thirds of our operating cash flow for
share repurchases," said Rockwell Collins Senior Vice President and
Chief Financial Officer Patrick Allen. "This additional authorization
demonstrates the confidence we have in our ability to carry out our
long-term growth initiatives and generate significant levels of
operating cash flow. We expect this to enable us to continue executing
on all elements of our capital deployment strategy, which includes
strategic acquisitions and cash dividends in addition to share
repurchases." As of November 13, 2007, the company had repurchased a
total of 44.5 million shares for $1.984 billion at an average price
per share of $44.53.
The timing and total amount of share repurchases will depend upon
market conditions and will be made in compliance with, and at such
times as permitted by, federal securities law. The repurchases may be
suspended or discontinued at any time.
Rockwell Collins is a pioneer in the development and deployment of
innovative communication and aviation electronic solutions for both
commercial and government applications. Our expertise in flight deck
avionics, cabin electronics, mission communications, information
management, and simulation and training is delivered by 20,000
employees, and a global service and support network that crosses 27
countries. To find out more, please visit www.rockwellcollins.com.
This release contains statements, including certain projections
and business trends, that are forward-looking statements as defined in
the Private Securities Litigation Reform Act of 1995. Actual results
may differ materially from those projected as a result of certain
risks and uncertainties, including but not limited to our ability to
execute to our operating plans as well as other risks and
uncertainties that are detailed from time to time in our Securities
and Exchange Commission filings. These forward-looking statements are
made only as of the date hereof.
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