Textron CEO says response to FARA offering has been 'very positive'

By Marjorie Censer / October 17, 2019 at 11:27 AM

Textron's Bell unveiled its Invictus 360 offering for the Army's Future Attack Reconnaissance Aircraft program at the Association of the U.S. Army conference this week, and the response was "very positive," according to Textron's chief executive.

Scott Donnelly said today during a call with analysts that the "interest level is pretty high."

He noted the company's offering is based on technology used in its 525 helicopter, but said it shouldn't be perceived as older technology.

"The performance numbers meet or exceed the customer's requirements," Donnelly added. "We think we can do it very cost effectively."

Donnelly said Bell, which was among those selected to build prototypes, is awaiting a March down-select.

Meanwhile, Textron Systems today reported quarterly sales of $311 million, down 12% from the same three-month period a year earlier as a result of "lower armored vehicle volume at Textron Marine & Land Systems." The unit's quarterly profit rose about 7% from the prior year.

Bell recorded quarterly sales of $783 million, up 2% from a year earlier because of increased commercial revenue. Military volume was down, the company said.

Bell's quarterly profit was $110 million, down about 3% from a year earlier.