Textron 3Q profit jumps 51 percent |
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Thu, 18 Oct 2007 12:41
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PROVIDENCE, R.I. (AP) - Textron Inc., the maker of aircraft and industrial products, said Thursday its third-quarter earnings soared 51 percent on overall strength in core operations led by continued solid demand for Cessna Jets.Earnings rose to $255 million, or $1 per share, from $169 million, or 66 cents per share in the year-ago quarter.Revenue increased 15 percent to $3.26 billion from $2.84 billion. Revenue at Cessna rose 21 percent to $1.27 billion, driven by sales of Citation business jets and higher prices.Analysts were expecting a profit of 77 cents per share on revenue of $3.14 billion, according to a poll by Thomson Financial.Textron's Bell Helicopter division posted a 14 percent rise in revenue to $976 million, while revenue from industrial products rose 12 percent to $805 million.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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