Rockwell International Corp.: The defense, manufacturing and...

Rockwell International Corp.: The defense, manufacturing and graphics conglomerate reported annual operating income of $624.3 million, about the same as last year’s. The El Segundo-based firm’s net income was down 15% because of a onetime gain in 1989 on the sale of its Measurement & Flow Control division. Revenue was about the same as last year’s $12.4 billion. The company’s fourth-quarter earnings were up 6% to $133.9 billion. Quarterly revenue of $3.2 billion was about the same as last year’s. The company blamed the flat yearly results on a reduction in defense spending and softness in the economy.