Textron Inc. (NYSE: TXT), Providence, RI, reported third-quarter sales of $2.8 billion, up 13.5 percent over the same period a year ago. Profit was $142 million, compared to a year-ago loss of $42 million.
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For the first nine months, sales were $8 billion, up 8 percent over the first nine months of 2010. Profit was $261 million, compared to $26 million a year ago.
Revenues for Cessna increased $236 million to $771 million, reflecting higher jet volume. Segment profit increased $64 million to $33 million, primarily due to higher volume, mix and favorable performance.
Bell revenues increased $69 million to $894 million in the third quarter from the same period in the prior year. Segment profit increased 34 percent to $143 million, reflecting improved performance.
Textron Systems revenues and profits were essentially unchanged at $462 million and $47 million on flat overall volumes.
Industrial revenues increased $55 million to $655 million, primarily due to the impact of foreign exchange and higher volumes. Segment profit was $37 million, flat with last years third quarter.
