Rockwell Collins Inc. COL reported financial results for third-quarter fiscal 2017 (ended Jun 30, 2017). The company’s adjusted earnings per share of $1.64 surpassed the Zacks Consensus Estimate of $1.58 by 3.8%. Reported earnings also grew 0.6% from $1.63 per share a year ago.RevenuesIn the reported quarter, Rockwell Collins’ total sales was $2,094 million, beating the Zacks Consensus Estimate of $2,026 million by 3.4%. Revenues also grew 57% year over year driven by higher sales at Interior Systems, Commercial Systems, Government Systems and Information Management Services.Operational HighlightsTotal segment operating income during the quarter was $386 million, up 36.9% from $282 million in the year-ago quarter.Rockwell Collins’ total research and development investment (including the increase in pre-production engineering costs) was $303 million, up 24.2%. The figure represented 14.5% of total quarterly sales compared with 18.3% in the year-ago period.Interest expense during the quarter was $77 million compared with $16 million in the year-ago quarter.Segment PerformanceCommercial Systems: In the quarter under review, segmental sales of $658 million were up 7.5% year over year primarily owing to higher original equipment and aftermarket sales.Operating earnings for the quarter were $144 million compared with $141 in the year-ago quarter. However, operating margin contracted 110 bps to 21.9%.Government Systems: The segment reported sales of $558 million, up 0.5% on the back of higher communication and navigation revenues.Operating earnings for the quarter were $123 million, up 7% from $115 million in the year-ago period. Operating margin also expanded 130 bps to 22%, primarily driven by higher sales volume and favorable sales mix.Information Management Services: Segment sales were $183 million, up from $167 million in the year-ago period backed by growth in aviation related revenues.Operating earnings for the quarter were $39 million, up from $26 million in the year-ago period. Operating margin was also 21.3% compared with 15.6% a year ago. The increase was primarily owing to higher sales volume.Rockwell Collins, Inc. Price, Consensus and EPS Surprise Rockwell Collins, Inc. Price, Consensus and EPS Surprise | Rockwell Collins, Inc. QuoteFinancial ConditionAs of Jun 30, Rockwell Collins’ cash and cash equivalents were $578 million compared with $340 million as of Sep 30, 2016.Long-term debt (net) was $7,268 million as of Jun 30 up from $1,374 million as of Sep 30, 2016.Cash used for operating activities in the first nine months of fiscal 2017 was $416 million, compared with $223 million a year ago.Fiscal 2017 GuidanceAdjusted earnings per share are still expected in the range of $5.95–$6.15.The company expects its fiscal 2017 revenue to be about $6.8 billion compared with its prior guidance in the range of $6.7–$6.8 billion.Total segment operating margin is reaffirmed to be in the band of 19%–20%.The company still expects free cash flow in the range of $650−$750 million. Its R&D expenditure guidance is projected to be about $1.1 billion compared with the prior $1.05−$1.15 billion band.The full-year tax rate is reiterated to be in the range of 27%–28%.Zacks RankRockwell Collins currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Peer ReleasesAAR Corp. AIR reported fourth-quarter fiscal 2017 earnings of 44 cents per share, which surpassed the Zacks Consensus Estimate of 43 cents. Earnings were up 29.4% from the year-ago figure of 34 cents.Triumph Group Inc.’s TGI adjusted earnings from continuing operations in first-quarter fiscal 2018 (ended Jun 30) came in at 24 cents per share, missing the Zacks Consensus Estimate of 87 cents by 72.4%. Reported earnings also declined 76.9% from $1.04 per share a year ago.Raytheon Company RTN reported second-quarter 2017 adjusted earnings from continuing operations of $1.98 per share, beating the Zacks Consensus Estimate of $1.74 by 13.8%. The figure also improved 5.3% from $1.88 in the year-ago quarter.The Hottest Tech Mega-Trend of AllLast year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.See Zacks' 3 Best Stocks to Play This Trend >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Rockwell Collins, Inc. (COL): Free Stock Analysis Report Triumph Group, Inc. (TGI): Free Stock Analysis Report AAR Corp. (AIR): Free Stock Analysis Report Raytheon Company (RTN): Free Stock Analysis Report To read this article on Zacks.com click here.