Textron Inc. (NYSE: TXT), Providence, RI, reported sales for the second quarter ended July 2, 2011, were $2.7 billion, up slightly over the same period a year ago. Profit increased 10 percent to $90 million.
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For the first six months, sales were $5.2 billion, an increase of 6 percent in a year-over-year comparison. Profit grew 61 percent to $119 million.
\”The demand environment for commercial aircraft remained stable,\” CEO Scott C. Donnelly said. \”Given current levels of customer interest and order activity, we expect a significant pick-up in demand in the second half of the year, similar to what we saw last year.\”
Second-quarter Industrial segment revenues increased 9 percent to $719 million, primarily due to a favorable foreign exchange impact. Segment profit increased $4 million on the higher revenue.
