Textron Cites Loss as Deliveries Slump

Aviation International News » November 2010
October 27, 2010, 7:09 AM

Textron, parent company of Cessna Aircraft and Bell Helicopter, reported a third-quarter loss. Revenues were $2.5 billion, down 2.7 percent year-over-year, primarily due to lower business jet deliveries at Cessna, where revenues decreased $290 million in the quarter from a year ago, reflecting lower new aircraft sales. The Wichita aircraft maker delivered 26 jets, down from the 68 shipped in the same period last year. Segment profit decreased $63 million, while backlog ended the third quarter at $3.4 billion, down $321 million from the end of the second quarter. At Bell, revenues increased $197 million in the third quarter from last year, thanks mostly to military helicopter deliveries and, to a lesser extent, civil helicopter shipments. Segment profit at Bell increased $28 million, but backlog decreased $537 million from the end of the second quarter to $6.5 billion.

Share this...

Please Register

In order to leave comments you will now need to be a registered user. This change in policy is to protect our site from an increased number of spam comments. Additionally, in the near future you will be able to better manage your AIN subscriptions via this registration system. If you already have an account, click here to log in. Otherwise, click here to register.