The Cedar Rapids, Iowa-based aerospace and technology firm said it earned $1.14 per share in this year’s third quarter, compared to $1.01 in the prior year period.
The company attributed the increase, twice the rate of profit growth, to company’s share repurchase program.
Chairman, President and CEO Clay Jones said in the announcement the company has increased its dividend 25 percent and share repurchases reduced share count by 7 percent.
Income from continuing operations was $166 million, a 6 percent increase, compared to $157 million over the prior year period.
The company’s government systems unit reported $679 million in sales, a 2 percent increase over the $668 million in the prior year period.
According to the company, the 11 percent increase in avionics sales was due to higher sales for Saudi F-15 fighters and the KC-46, KC-10 and KC-390 tanker programs.
Sales of communications products increased $14 million, or 9 percent year-over-year, due to higher sales of networked communication and data link products, the company said.