Textron Sales Down

Textron said today that sales in its most recent quarter hit $3.2 billion, down about 7 percent from the same period a year earlier.

The company's quarterly profit hit $167 million, up from $144 million in the same three-month period the prior year.

Textron said quarterly sales were down at Bell, partly because of reduced delivery of V-22s, H-1s and commercial helicopters. But sales were up at Textron Systems, which the company attributed to improved sales of unmanned systems and marine and land systems.

However, the Textron Systems unit saw lower weapons and sensors sales and its profit was down for the quarter.

Scott Donnelly, Textron's chief executive, also said he doesn't expect Lockheed Martin's planned acquisition of Sikorsky to significantly alter the market.

"The dynamics, in terms of competition in the marketplace for us, are largely unchanged," he told analysts during a call this morning.