Onex Revenue Up

Canadian investment group Onex Corp. reported a revenue gain of 23 percent during the first six months of 2006, but net earnings were 24 percent less than the same period of 2005.

First-half 2006 revenue was $8.1 billion, in U.S. dollars, for the owner of Spirit AeroSystems Inc., compared with $6.6 billion for the first six months last year.

Net earnings for the period were $645 million, or $4.75 a share, versus $851.7 million, or $6.13 a share, for the first half of 2005.

During the second quarter, Onex reported revenue of $4.2 billion, up 19 percent over the $3.5 billion in revenue for the second quarter of 2005.

Net earnings were $42.6 million, or 32 cents a share, compared to $212 million, or $1.53 a share, for the same time period last year.

The Canadian firm created Spirit by purchasing the Wichita and Oklahoma commercial airplane manufacturing facilities of the Boeing Co.

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