WASHINGTON (dpa-AFX) - Goodrich Corp. (GR) Thursday reported a surge in fourth-quarter profit as revenue grew in all segments with higher operating income margins. Both earnings and revenue for the quarter topped Street estimates. Goodrich's net income for the fourth quarter rose to $238 million or $1.85 per share from $148 million or $1.16 per share in the year-ago quarter. On average, 20 analysts polled by Thomson Reuters expected earnings of $1.57 per share for the quarter. Results for the quarter included merger-related costs of $0.05 per share. Last year, results included debt redemption costs of about $22 million after-tax or $0.17 per share. Sales for the quarter grew 19 percent to $2.145 billion from $1.806 billion in the year-ago quarter. Organic growth during the quarter was 15 percent. Seventeen Street analysts had a consensus revenue estimate of $2.130 billion. Segment operating income margin for the fourth quarter 2011 was 19.7 percent compared with 15.8 percent last year. For the full year 2011, the Charlotte, North Carolina-headquartered company reported net income of $810 million or $6.33 per share, compared to net income of $579 million or $4.51 per share in 2010. Sales for the year grew 16 percent to $8.075 billion from last year. Results for the full year included merger-related costs of $0.18 per share and costs of $0.17 per share associated with plant closure and acquisition-related costs. Marshall Larsen, chairman, president and chief executive officer said, 'Our large commercial airplane original equipment sales grew by 18 percent as we continued to support production rate increases by Airbus and Boeing...Looking forward to 2012, we continue to expect our merger with United Technologies to close in mid-2012. As noted in our proxy, we continue to make progress on the regulatory filings, and our shareholder vote to approve the merger has been scheduled for March 13, 2012.' GR is currently trading at $125.26, up $0.21 or 0.17%, on the NYSE. Over the past year, the stock traded in a range of $79.71 - $125.10.
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