Textron's Q2 Profit Up, But Deliveries Down

Textron, the maker of Beechcraft and Cessna planes, reported a rise in second quarter profit on lower revenue.

The company's net income rose to USD$167 million in the second quarter ended July 4, from USD$144 million a year earlier.

Revenue in the aviation business, its largest, fell 5 percent to USD$1.12 billion in the second quarter, hurt by a change in the mix of commercial aircraft. Total revenue fell 7.4 percent to USD$3.25 billion.

The company delivered 30 King Air Turboprops in the quarter ended July 4, four fewer than the same quarter a year earlier.

Textron also delivered six V-22s and six H-1 Bell helicopters in the quarter, down from 10 V-22s and eight H-1s last year.

The company delivered 39 commercial helicopters in the quarter, down from 46 last year, reflecting a fall in demand.