2 May 2014
Textron Inc. (NYSE: TXT) reported first quarter 2014 income from continuing operations of USD0.31 per share, compared to USD0.40 per share in the first quarter of 2013.
On March 14, 2014, Textron completed its acquisition of Beechcraft and recorded acquisition and restructuring costs of USD16m. The acquisition reduced first quarter income from continuing operations by USD0.05 per share as a result of acquisition, restructuring and applicable interest costs.
Total revenues in the quarter were USD2.8bn, approximately flat with the first quarter of 2013. Beechcraft was combined with Cessna to form a new reporting segment called Textron Aviation and contributed USD101m to revenues in the first quarter of 2014.
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. For more information visit: www.textron.com.
Textron Q1 2014 income down from prior year period
2 May 2014