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Article: Textron Reports Third Quarter GAAP EPS of $0.01; $0.12 EPS from Continuing Operations before Special Charges.(Financial report)
- Article from:
- Journal of Engineering
- Article date:
- November 11, 2009
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Textron Inc. (NYSE: TXT) reported third quarter 2009 net income of $0.01 per share. Excluding special charges, income from continuing operations was $0.12 per share. Revenues in the quarter were $2.5 billion, down 27 percent from the third quarter of 2008. Managed receivables at the company's finance business were further reduced by $700 million and third quarter manufacturing free cash flow was $327 million.
Textron recorded third quarter pre-tax, special charges of $42 million associated with its restructuring program. Full-year restructuring charges are now expected to be approximately $240 million.
"Third quarter results reflect continued ...