Textron, the parent company of Bell Helicopter and Cessna, isn’t feeling the effects of the economic downturn just yet. The company reported an 18.7-percent jump in revenue in the first quarter, largely due to an increase in revenue of $278 million by the Wichita-based OEM. Cessna’s profits increased by $52 million, to $207 million, compared with the same time last year, and the backlog rose from $12.6 billion at year-end to $14.5 billion in the first quarter. Bell revenues, on the other hand, decreased $6 million compared with the same time last year, but profits rose, from $28 million to $53 million.
Cessna Boosts Textron Revenue
- April 28, 2008, 10:15 AM