Textron Inc. (NYSE: TXT), Providence, RI, today reported a fourth quarter 2009 net loss of $63 million, compared with a net loss of $209 million during fourth quarter 2008. Sales declined 21% to $2.8 billion.
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Sales for 2009 were $10.5 billion, down 25% from 2008. Full year net loss was $31 million, compared to profit in 2008 of $486 million.
Fourth quarter sales in the Industrial segment decreased 4.3% to $572 million, primarily a result of lower volume and lower pricing. Segment profit was $18 million, compared to a prior year loss of $24 million.