Textron Systems reports lower sales, profit

By Marjorie Censer / October 18, 2018 at 11:33 AM

Textron Systems reported today sales in its most recent quarter reached $352 million, down from $458 million the prior year.

The decline reflected "lower [Tactical Armored Patrol Vehicle] deliveries at Textron Marine & Land Systems and lower volume in the Simulation, Training and Other product line," the company said.

The unit's quarterly profit was down $11 million, or almost 28 percent.

Bell saw its quarterly revenue reach $770 million, down 5 percent "primarily on commercial mix, partially offset by higher military revenues."

The unit's quarterly profit was up $7 million, or about 7 percent, thanks to "favorable performance on military programs," Bell said.

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