Textron (TXT) Announces Q3 Earnings
October 27, 2009 8:10 AM
Textron Inc. (NYSE: TXT) reported third quarter 2009 net income of $0.01 per share. Excluding special charges, income from continuing operations was $0.12 per share. Revenues in the quarter were $2.5B, down 27 percent from the third quarter of 2008. Managed receivables at the company’s finance business were further reduced by $700M and third quarter manufacturing free cash flow was $327M.
Textron recorded third quarter pre-tax, special charges of $42M associated with its restructuring program. Full-year restructuring charges are now expected to be approximately $240M. $0.12 EPS from Continuing Operations before Special Charges
Textron Inc. is a multi-industry company that leverages its global network of aircraft, defense, industrial and finance businesses to provide customers with innovative solutions and services. Textron is known around the world for its powerful brands such as Bell Helicopter, Cessna Aircraft Company, Jacobsen, Kautex, Lycoming, E-Z-GO, Greenlee, and Textron Systems.
