Goodrich Corp.'s net income rose 10 percent in the third quarter, helped in part by increased original equipment sales.
The aerospace supplier also lowered the high end of its 2010 earnings guidance to account for a fourth-quarter charge of 18 cents per share.
Goodrich reported Thursday that its earnings climbed to $160.2 million, or $1.25 per share. A year earlier, the company earned $145.4 million, or $1.14 per share.
Analysts polled by Thomson Reuters, whose estimates normally exclude one-time items, predicted net income of $1.12 per share.
Goodrich's stock gained $1.53, or 2 percent, to $79.40 in afternoon trading. Earlier in the session the shares reached a new 52-week high of $82.18.
For the three months ended Sept. 30, revenue improved to $1.49 billion from $1.42 billion. Still, this fell short of the $1.8 billion Wall Street forecast.
"All of our major market channels, including the commercial aftermarket, reported year-over-year sales growth," Chairman, President and CEO Marshall Larsen said in a statement.
Regional, business and general aviation airplane original equipment sales rose 21 percent, while large commercial airplane original equipment sales edged up 2 percent. Defense and space sales of both original equipment and aftermarket products and services climbed 12 percent.
Large commercial, regional, business and general aviation airplane aftermarket sales increased 3 percent, and commercial aftermarket sales also gained 3 percent.
Goodrich now expects full-year earnings between $4.30 and $4.35 per share, down from a prior range of $4.30 to $4.45 per share, due to the fourth-quarter debt redemption charge. Analysts expect earnings of $4.40 per share for the year.
Looking ahead, the Charlotte, N.C., company anticipates 2011 net income of $5 to $5.20 per share, with revenue between $7.7 billion and $7.8 billion.
Analysts predict earnings of $5.14 per share on revenue of $7.66 billion, on average.
