UPDATE: Textron Posts Rise In Q3 Profit, Lifts 2012 Forecast

Textron (NYSE: TXT) reported a rise in its third-quarter net profit. Textron's quarterly net profit climbed to $151 million, or $0.51 per share, from $142 million, or $0.47 per share, in the year-earlier period. Its total revenue gained 6.6% to $3 billion from $2.81 billion. Its income on continuing operations rose 6.7% to $0.48 per share from $0.45 per share. However, analysts were expecting earnings of $0.51 per share on revenue of $3.06 billion. Textron now expects 2012 earnings from continuing operations to $1.95 to $2.05 per share, versus its earlier forecast of $1.80 to $2.00 per share.Textron shares closed at $26.46 yesterday.