NEW: Textron Revenues Up $19M

NEW: Textron Revenues Up $19M

Textron reported today $2.7 billion in revenues in the 2011 second quarter, up $19 million from the 2010 second quarter.

The company is currently operating at $0.29 per share compared to $0.27 per share in the second quarter of 2010. Segment profit increased $35 million for the year before, finishing at $196 million.

"Second quarter results benefited from good execution and cost performance at Bell and Industrial," said Textron Chairman and CEO Scott C. Donnelly.

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Bell revenues increased $49 million from the same period of the prior year, delivering 17 military aircrafts and 22 commercial aircrafts. This additional revenue created a $12 million increase in segment profit. Industrial revenues increased by $58 million, a $4 million segment profit increase. This is mainly due to a favorable foreign exchange impact.

The Finance segment was not as successful as revenue decreased by $23 million, a segment loss $38 million lower than last year. Textron believes the revenue loss comes primarily from lower loan loss provisions and lower operating expenses.

The Cessna revenue increased $17 million, delivering 38 new Citation jets in the quarter. Segment profit grew $2 million dollars on the increased revenue.

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