United Technologies cuts Sikorsky helicopter business to focus on high-tech aerospace service

Energy Associated Press

United Technologies Corp. has announced it will separate its Connecticut-based Sikorksy Aircraft business as it exits the helicopter business.

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The Hartford conglomerate says it will focus on high-technology systems and services to the aerospace and building industries. It says a decision on selling or spinning off Sikorsky will be made by the end of the third quarter.

United Technologies has previously said Sikorsky didn't fit with plans for long-term growth.

Excluding Sikorsky, United Technologies expects 2015 earnings per share of $6.35 to $6.55 on sales of $58 to $59 billion. With Sikorsky, earnings per share are expected at $6.55 to $6.85, from $6.85 to $7.05.

United Technologies expects 10 cents to 20 cents per share of separation costs and a 10-cent per share decline in Sikorsky operations due to oil and gas market weakness.