United Technologies (UTC) will take a charge of "somewhat less than $500 million" in the second quarter to cover losses on subsidiary Sikorsky’s contract to supply 28 CH-148 Cyclone maritime helicopters to Canada. The charge is intended to take the remaining financial risk out of the program, and will be "covered with non-revenue gains from tax settlements worldwide," CFO Greg Hayes told analysts June 5. Sikorsky won the C$1.8 billion ($1.7 billion) contract to ...

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