Textron Inc. reported second quarter 2011 Revenues of $2.7 billion, up $19 million from the second quarter of 2010. Segment profit was $196 million, up $35 million from the year-ago quarter.
“Second quarter results benefited from good execution and cost performance at Bell and Industrial,” said Textron Chairman and CEO Scott C. Donnelly. “Cessna returned to an operating profit, driven primarily by higher delivery and aftermarket volumes compared to the first quarter,” Donnelly added.
However, revenues at Textron Systems decreased $82 million, primarily due to lower unmanned aircraft system sales and lower mission support volume.
Cessna revenues increased $17 million, reflecting growth in aftermarket. Cessna delivered 38 new Citation jets in the quarter, compared with 43 deliveries in last year’s second quarter.
Bell revenues increased $49 million in the second quarter from the same period in the prior year. Bell delivered 9 V-22’s, 8 H-1’s and 22 commercial aircraft in the quarter compared to 8 V-22’s, 3 H-1’s and 21 commercial units in last year’s second quarter.
Source: Market Watch