Stratford-based Sikorsky Aircraft saw its commercial shipments fall to 12 in the fourth quarter compared to 16 in the same period a year ago, while its sister UTC company Pratt & Whitney experienced an increase from commercial aviation, shipping 154 engines in the fourth quarter of 2011, up from 110 the previous year.
UTC reported earnings for the fourth quarter and year on Wednesday with Sikorsky’s operating profit dipping to $207 million from $239 million. However, Sikorsky took $37 million in restructuring related charges in the quarter. The layoffs, announced last year, are expected to be finalized this quarter and some employees have said they expect to hear this week who will be laid off.
Aerospace companies are hoping commercial aviation, which was dramatically affected by the global economic crash of 2008, is ready to soar in 2012 and 2013, which could help them replace the drop off in revenues from defense, which is expected to hit in the next couple of years.
While Pratt’s numbers show an increase in demand from the commercial markets, Sikorsky showed it is still very much a struggle for helicopters.
However, Sikorsky continued to ship a high number of military aircraft, delivering 61 helicopters in the last quarter of 2011, compared to 60 in the same period in 2010. Overall, Sikorsky shipped 235 military aircraft in 2011 compared to 219 in 2010. Pratt’s military shipments declined for the year to 161 from 180.
Shares in UTC were down 5 cents to $77.73 in New York trading Wednesday before noon.
