Goodrich’s earnings buoyed by its aftermarket work. According to its earning statement Goodrich expects large commercial, regional, business and GA airplane aftermarket sales to increase by about 7 - 9 percent along with defense and space sales of both OE and aftermarket products.
Commenting on the company's overall performance and its 2011 outlook, Marshall Larsen, Chairman, President and CEO said, "With very strong fourth quarter 2010 performance, we closed out a solid 2010 with a dramatic improvement over 2009. During the year our sales increased each quarter, providing us with a strong growth trajectory as we enter 2011. During the fourth quarter, we experienced commercial aftermarket sales growth of 12 percent, compared to the fourth quarter 2009, and overall sales growth of 10 percent. This strong sales growth was outpaced by excellent growth in net income per diluted share of 41 percent during the fourth quarter 2010.
We believe these strong growth trends will continue in 2011, and we expect significant sales growth for each of our major market channels. Based on the recent improvements in airline capacity trends, improving airline profitability, and increasing demand trends for our commercial aftermarket products late in the fourth quarter, we are raising our sales growth expectations for commercial aftermarket sales to a range of 7 - 9 percent for 2011, compared to 2010.”