Textron Inc. (NYSE: TXT), Providence, RI, reported sales in the third quarter were $2.5 billion, down 27% from the third quarter 2008.
Scott Donnelly, Textron President, COO and CEO-elect said: “The demand environment for our commercial products continues to show signs of stabilization, but we believe that market recovery likely will be slow and modest."
Revenues for Textron’s Industrial segment fell $203 million from last year due to lower volumes. Profit was unchanged from last year.