Textron releases second quarter results
Textron released financial and delivery numbers for Cessna and Bell Helicopter.
Revenues at Cessna increased $111 million, reflecting the delivery of 49 new Citation jets in the quarter, compared with 38 in last year’s second quarter.
Segment profit of $35 million was an improvement of $30 million, primarily due to the higher volume.
Cessna backlog at the end of the second quarter was $1.5 billion, down $196 million from the first quarter of 2012.
Bell Helicopter revenues increased $184 million in the second quarter from the same period in the prior year, primarily reflecting the delivery of 47 commercial helicopters compared to 22 units in last year’s second quarter.
Bell also delivered 9 V-22 and 6 H-1 aircraft in the quarter compared to 9 V-22’s and 8 H-1’s in last year’s second quarter.
Segment profit increased $32 million, primarily reflecting higher volume and favorable mix in our commercial business.
Bell Helicopter backlog at the end of the second quarter was $6.7 billion, down $394 million from the first quarter of 2012.