Rockwell Reports a 36% Plunge in Quarterly Profit

Rockwell International Corp. said its second-quarter profit plunged 36%, slammed by a 51% drop in earnings from the company’s aerospace businesses. In particular, results were down from the fiscal 1991 second quarter because of higher revenue last year from the B-1B bomber maintenance program and last year’s delivery of the space shuttle Endeavour.

The Seal Beach-based diversified technology company’s net income fell to $99 million, or 45 cents a share, down from $155.2 million, or 66 cents a share, a year earlier. Revenue fell 8% to $2.76 billion in the quarter ended March 31 from $2.99 billion the year before.