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Beechcraft Corporation is an American manufacturer of general aviation and military aircraft, ranging from light single-engined aircraft to twin-engined turboprop transports, and military trainers. A brand of Textron Aviation since 2014, it has also been a division of Raytheon and later a brand of Hawker Beechcraft. Wikipedia.


PROVIDENCE, R.I.--(BUSINESS WIRE)--Textron Inc. (NYSE: TXT) today reported third quarter 2015 income from continuing operations of $0.63 per share, up 10.5 percent from $0.57 per share in the third quarter of 2014. Revenues in the quarter were $3.2 billion, down 7.3 percent compared to $3.4 billion in the third quarter of 2014. Textron segment profit in the quarter was $312 million, up $19 million from the third quarter of 2014. Third quarter manufacturing cash flow before pension contributions was $116 million compared to $144 million during last year’s third quarter. “Revenues were down in the quarter, primarily driven by lower deliveries of V-22s at Bell, but we had solid revenue growth at Textron Aviation, Textron Systems and Industrial, reflecting our investments in new products and sales capabilities,” said Textron Chairman and CEO Scott C. Donnelly. “Furthermore, good margin results across our segments contributed to solid overall financial performance in the quarter, despite the decrease in revenues.” Textron revised its 2015 earnings per share from continuing operations guidance to a range of $2.40 to $2.50 from $2.30 to $2.50 and confirmed its expectation for cash flow from continuing operations of the manufacturing group before pension contributions of $550 to $650 million with planned pension contributions of about $70 million. Revenues at Textron Aviation were up $79 million, primarily reflecting higher jet and military volumes. Textron Aviation delivered 37 new Citation jets and 29 King Air turboprops in the quarter, compared to 33 Citations and 30 King Airs in last year’s third quarter. Textron Aviation recorded a segment profit of $107 million in the third quarter compared to $62 million a year ago. The increase is primarily due to the higher volumes and mix and improved performance, which included lower amortization of $9 million related to fair value step-up adjustments. Textron Aviation backlog at the end of the third quarter was $1.4 billion, approximately flat with the end of the second quarter. Bell revenues decreased $426 million, primarily the result of lower V-22 aircraft deliveries, lower commercial aftermarket volume and a change in mix of commercial aircraft. Bell delivered 4 V-22’s and 5 H-1’s in the quarter, compared to 12 V-22’s and 4 H-1’s in last year’s third quarter and 45 commercial helicopters, compared to 41 units last year. Segment profit decreased $47 million primarily due to the lower volumes partially offset by favorable performance. Bell backlog at the end of the third quarter was $5.1 billion, up $338 million from the end of the second quarter. Revenues at Textron Systems increased $62 million, primarily due to higher Weapons and Sensors and Unmanned Systems volumes. Segment profit was up $12 million, reflecting the impact of the higher volumes. Textron Systems’ backlog at the end of the third quarter was $2.6 billion, down $142 million from the end of the second quarter. Industrial revenues increased $43 million due to higher overall volumes, partially offset by a $59 million unfavorable impact from foreign exchange. Segment profit increased $8 million reflecting the impact of the higher volumes. Textron will host its conference call today, October 27, 2015 at 8:00 a.m. (Eastern) to discuss its results and outlook. The call will be available via webcast at www.textron.com or by direct dial at (800) 700-7860 in the U.S. or (612) 332-1210 outside of the U.S. (request the Textron Earnings Call). In addition, the call will be recorded and available for playback beginning at 10:30 a.m. (Eastern) on Tuesday, October 27, 2015 by dialing (320) 365-3844; Access Code: 337221. A package containing key data that will be covered on today’s call can be found in the Investor Relations section of the company’s website at www.textron.com. Textron Inc. is a multi-industry company that leverages its global network of aircraft, defense, industrial and finance businesses to provide customers with innovative solutions and services. Textron is known around the world for its powerful brands such as Bell Helicopter, Cessna, Beechcraft, Hawker, Jacobsen, Kautex, Lycoming, E-Z-GO, Greenlee, Textron Systems, and TRU Simulation + Training. For more information visit: www.textron.com. Manufacturing cash flow before pension contributions is a non-GAAP measure that is defined and reconciled to GAAP in an attachment to this release. Certain statements in this release and other oral and written statements made by us from time to time are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, which may describe strategies, goals, outlook or other non-historical matters, or project revenues, income, returns or other financial measures, often include words such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” “guidance,” “project,” “target,” “potential,” “will,” “should,” “could,” “likely” or “may” and similar expressions intended to identify forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors that may cause our actual results to differ materially from those expressed or implied by such forward-looking statements. Given these uncertainties, you should not place undue reliance on these forward-looking statements. Forward-looking statements speak only as of the date on which they are made, and we undertake no obligation to update or revise any forward-looking statements. In addition to those factors described under “RISK FACTORS” in our Annual Report on Form 10-K, among the factors that could cause actual results to differ materially from past and projected future results are the following: interruptions in the U.S. Government’s ability to fund its activities and/or pay its obligations; changing priorities or reductions in the U.S. Government defense budget, including those related to military operations in foreign countries; our ability to perform as anticipated and to control costs under contracts with the U.S. Government; the U.S. Government’s ability to unilaterally modify or terminate its contracts with us for the U.S. Government’s convenience or for our failure to perform, to change applicable procurement and accounting policies, or, under certain circumstances, to withhold payment or suspend or debar us as a contractor eligible to receive future contract awards; changes in foreign military funding priorities or budget constraints and determinations, or changes in government regulations or policies on the export and import of military and commercial products; volatility in the global economy or changes in worldwide political conditions that adversely impact demand for our products; volatility in interest rates or foreign exchange rates; risks related to our international business, including establishing and maintaining facilities in locations around the world and relying on joint venture partners, subcontractors, suppliers, representatives, consultants and other business partners in connection with international business, including in emerging market countries; our Finance segment’s ability to maintain portfolio credit quality or to realize full value of receivables; performance issues with key suppliers or subcontractors; legislative or regulatory actions, both domestic and foreign, impacting our operations or demand for our products; our ability to control costs and successfully implement various cost-reduction activities; the efficacy of research and development investments to develop new products or unanticipated expenses in connection with the launching of significant new products or programs; the timing of our new product launches or certifications of our new aircraft products; our ability to keep pace with our competitors in the introduction of new products and upgrades with features and technologies desired by our customers; pension plan assumptions and future contributions; demand softness or volatility in the markets in which we do business; cybersecurity threats, including the potential misappropriation of assets or sensitive information, corruption of data or operational disruption; difficulty or unanticipated expenses in connection with integrating acquired businesses; and the risk that anticipated synergies and opportunities as a result of acquisitions will not be realized or the risk that acquisitions do not perform as planned, including, for example, the risk that acquired businesses will not achieve revenue and profit projections. (a) Textron Aviation's segment profit includes $1 million and $12 million, for the three and nine months ended October 3, 2015, respectively, and $10 million and $55 million for the three and nine months ended September 27, 2014, respectively, related to fair value step-up adjustments of acquired inventories sold during the periods. (b) Acquisition and restructuring costs for the three and nine months ended September 27, 2014 includes $3 million and $28 million, respectively, of restructuring costs incurred related to the acquisition of Beech Holdings, LLC, the parent of Beechcraft Corporation, which was completed on March 14, 2014. Transaction costs of $11 million related to the Beechcraft acquisition are also included in the nine months ended September 27, 2014. Free cash flow is a measure generally used by investors, analysts and management to gauge a company’s ability to generate cash from operations in excess of that necessary to be reinvested to sustain and grow the business and fund its obligations. Our definition of Manufacturing free cash flow adjusts net cash from operating activities of continuing operations for dividends received from TFC, capital contributions provided under the Support Agreement and debt agreements, capital expenditures, proceeds from the sale of property, plant and equipment and contributions to our pension plans. We believe that our calculation provides a relevant measure of liquidity and is a useful basis for assessing our ability to fund operations and obligations. This measure is not a financial measure under GAAP and should be used in conjunction with GAAP cash measures provided in our Consolidated Statements of Cash Flows.


NEW ORLEANS, LA--(Marketwired - October 05, 2015) - Textron Systems Marine & Land Systems, a Textron Inc. ( : TXT) business, announced today it has been awarded a $17.4 million Interim Contractor Training Support (ICTS) contract from the United States (U.S.) Army Tank-Automotive and Armaments Command (TACOM) to provide next-level training to the Afghan National Army for its four-wheeled Mobile Strike Force Vehicles (MSFVs). The contract has a 12 month period of performance. 621 MSFVs, based on Textron Systems' COMMANDO™ Select armored vehicle line, have been delivered to the Afghan National Army (ANA) since 2012, with over 550 of these vehicles actively engaged in security operations in strategic locations across the country. The ICTS contract calls for the Textron Systems in-country team to provide on-the-job training (OJT) and mentorship, enabling ANA personnel to perform detailed maintenance and repair actions to sustain its MSFV inventory. In addition to OJT vehicle repair and maintenance training, Textron Systems will continue mentoring and training the ANA on inventory and supply system activities, as well as developing and delivering program instruction manuals. "The goal of this training program is to equip the Afghan National Army with the required skills to be fully self-sufficient in all aspects of maintaining and sustaining its MSFV fleet over the long haul," said Senior Vice President and General Manager Tom Walmsley. "This training supports the United States' strategic objective of transitioning the security mission in Afghanistan to that nation's military." A Textron Systems team has supported MSFVs in-country program efforts for over four years. A dedicated team has trained over 2,200 ANA soldiers on operation and field-level maintenance in classroom environments, along with extensive hands-on experience. Textron Systems has also deployed multiple Field Service Representative (FSR) teams with ANA Kandaks (battalions) in the field to provide additional sustainment and maintenance support. Rigorously tested and proven in the toughest environments, the COMMANDO family of vehicles -- including Elite, Select and Advanced lines -- offers a range of protection options, unmatched on-road/off-road mobility and firepower. As an end-to-end solutions provider, Textron Systems also offers customers vehicle fielding, training, maintenance and logistics support services throughout each vehicle's life cycle. Textron Systems has decades of keeping assets operational and personnel expertly trained and over five million hours working side-by-side with our troops in combat. Textron Systems' businesses develop and integrate products, services and support for aerospace and defense customers, as well as civil and commercial customers including those in law enforcement, security, border patrol and critical infrastructure protection around the globe. Harnessing agility and a broad base of expertise, Textron Systems' innovative businesses design, manufacture, field and support comprehensive solutions that expand customer capabilities and deliver value. Textron Systems consists of its Advanced Information Solutions, Electronic Systems, Geospatial Solutions, Lycoming Engines, Marine & Land Systems, Support Solutions, TRU Simulation + Training, Unmanned Systems and Weapon & Sensor Systems businesses. More information is available at www.textronsystems.com. Textron Inc. is a multi-industry company that leverages its global network of aircraft, defense, industrial and finance businesses to provide customers with innovative solutions and services. Textron is known around the world for its powerful brands such as Bell Helicopter, Cessna, Beechcraft, Hawker, Jacobsen, Kautex, Lycoming, E-Z-GO, Greenlee, and Textron Systems. For more information, visit www.textron.com. Certain statements in this press release may project revenues or describe strategies, goals, outlook or other non-historical matters; these forward-looking statements speak only as of the date on which they are made, and we undertake no obligation to update them. These statements are subject to known and unknown risks, uncertainties, and other factors that may cause our actual results to differ materially from those expressed or implied by such forward-looking statements. COMMANDO is either a registered trademark or trademark of Textron, Inc. in the United States and/or other countries. The following files are available for download:


News Article | July 1, 2015
Site: www.businesswire.com

AMARILLO, Texas--(BUSINESS WIRE)--Bell Helicopter, a Textron Inc. (NYSE: TXT) company, today announced the successful first flight of the Bell 525 Relentless. The maiden flight of the super-medium helicopter took place at the company’s aircraft assembly center in Amarillo, Texas. Footage and images can be found here. "The Bell 525 was announced at Heli-Expo in 2012, and we are proud to have achieved this milestone. We have diligently executed our schedule to design, develop, build and test the aircraft, and look forward to the next phase of flight testing as we work towards certification,” said Matt Hasik, executive vice president of commercial programs at Bell Helicopter. “The marketplace has been awaiting the transformational capabilities of the Bell 525 and we continue to see growing customer demand from around the globe for this aircraft.” The Bell 525 was designed with input from our Customer Advisory Panel as an aircraft to meet future requirements for operational safety, payload & range, cabin comfort and configuration and reliability. One of the unique characteristics of the Bell 525 is the ability to perform CAT-A takeoffs and landings, to and from a helipad at maximum gross weight. Even in the event that one of the two engines fails, the Bell 525 provides sufficient power to maintain occupant safety while lifting off with a single operational engine. With over 60 helicopters reserved under letters of intent, the Bell 525 is designed to provide operators and end users unmatched situational awareness and the ability to perform a wide variety of missions under challenging weather conditions. “The Bell 525 performed extremely well today,” said Troy Caudill, senior flight test pilot at Bell Helicopter. “I am excited to be a part of the development of this advanced aircraft and help define the future of vertical lift.” “The first flight test started with taxi testing and maneuvers and then went into an initial hover, performing various hover maneuvers and then tested low speed handling qualities with winds gusting to 20 knots,” added Jeff Greenwood, senior flight test pilot at Bell Helicopter. The Bell 525 is the world’s first fly-by-wire commercial helicopter designed to operate safely and reliably in austere environments with decreased pilot workload. The aircraft features the first fully-integrated touch screen avionics suite designed for helicopters, the Garmin G5000H®. Best-in-class payload, cabin, cargo volumes, and passenger comfort complement the technological advancements on the aircraft. About Bell Helicopter Bell Helicopter, a wholly owned subsidiary of Textron Inc., is an industry-leading producer of commercial and military, manned and unmanned vertical-lift aircraft and the pioneer of the revolutionary tiltrotor aircraft. Globally recognized for world-class customer service, innovation and superior quality, Bell's global workforce serves customers flying Bell aircraft in more than 120 countries. About Textron Inc. Textron Inc. is a multi-industry company that leverages its global network of aircraft, defense, industrial and finance businesses to provide customers with innovative solutions and services. Textron is known around the world for its powerful brands such as Bell Helicopter, Cessna, Beechcraft, Hawker, Jacobsen, Kautex, Lycoming, E-Z-GO, Greenlee, and Textron Systems. More information is available at www.textron.com. Certain statements in this press release are forward-looking statements which may project revenues or describe strategies, goals, outlook or other non-historical matters; these statements speak only as of the date on which they are made, and we undertake no obligation to update or revise any forward-looking statements. These statements are subject to known and unknown risks, uncertainties, and other factors that may cause our actual results to differ materially from those expressed or implied by such forward-looking statements, including, but not limited to, changes in aircraft delivery schedules or cancellations or deferrals of orders; the efficacy of research and development investments to develop new products or unanticipated expenses or delays in connection with the launching of significant new products or programs; the timing of our new product launches or certifications of our new aircraft products; our ability to keep pace with our competitors in the introduction of new products and upgrades with features and technologies desired by our customers; changes in worldwide economic or political conditions that impact demand for our products, interest rates or foreign exchange rates; changes in government regulations or policies on the export and import of our products; and performance issues with key suppliers, subcontractors or business partners; and continued demand softness or volatility in the markets in which we do business.


WICHITA, Kan.--(BUSINESS WIRE)--Textron AirLand, LLC, a Textron Inc. (NYSE: TXT) company, today announced that the Scorpion is now en route from Wichita, Kansas to France and The United Kingdom, for exhibition at two of the world’s premier defense aviation exhibitions. Scorpion will participate in The International Paris Air Show from June 15 to 18, followed by Royal International Air Tattoo in Fairford, UK, from July 17 to 19. Scorpion will be the guest of multiple European air forces and will fly demonstrations between the air shows. With its arrival in Europe, Scorpion will have completed three trans-Atlantic flights and flown numerous demonstrations in the U.S., Europe and Latin America. “We introduced Scorpion to the world at the Royal International Air Tattoo and Farnborough International Air Show last summer,” said Bill Anderson, president of Textron AirLand. “Since then we have completed a full year of flight testing, meeting and exceeding all performance targets,” he added. See Scorpion During its “Year of the Scorpion: 2015 Multi-Nation Demonstration” Scorpion will be on static display in its armed configuration, along with advanced multi-spectral sensors and cameras for ISR missions. Weapon systems on display will include Raytheon Griffin Missiles, Lockheed Martin Hellfire and JAGM, FN Herstal 50 cal gun, Raytheon Enhanced Paveway 4, MBDA Brimstone Missile and Textron Systems G-CLAW. Scorpion will be joined by Beechcraft’s AT-6 Wolverine, Cessna’s Grand Caravan EX and Beechcraft’s Baron G58 ISR, all part of Textron Aviation’s product portfolio designed for special missions. Scorpion is a multi-mission aircraft designed with diverse capabilities including intelligence, surveillance and reconnaissance, humanitarian assistance, disaster relief, training and precision strike. Aircraft features include twin-engine power, two-seat operation, large internal payload capacity, high-definition ISR cameras, wing-mounted weapons stations, modern avionics, all-composite structure and more. For a closer look at the Scorpion, its mission capabilities and innovation timeline please visit www.ScorpionJet.com. Downloadable images and videos are available in the Scorpion Media Gallery. To schedule your interview, please contact David Sylvestre by cell phone at +1 401-640-6719 or dsylvestre@textron.com. Photographs and video are permitted. Background material and high-resolution images to support your coverage can be found on www.ScorpionJet.com and in the site’s Media Gallery. About Textron AirLand Scorpion Textron AirLand’s Scorpion™ Jet was introduced in 2013 and has completed several hundred hours of flight testing with an exceptionally high mission availability score. Scorpion is a highly affordable, multi-mission aircraft offering diverse capabilities including intelligence, surveillance and reconnaissance, humanitarian assistance, disaster relief, advanced training and precision strike. Aircraft features include twin-engine power, two-seat operation, large internal payload capacity, high-definition ISR cameras, wing-mounted weapons stations, modern avionics, all-composite structure and more. For further specifications and flight videos, please visit www.ScorpionJet.com. About Textron AirLand, LLC Textron AirLand has developed a highly affordable and exportable twin-engine ISR/Strike/Trainer jet for the tactical military aviation market. A versatile jet platform based on commercial best practices and proven high technologies, Scorpion is designed as a multi-mission aircraft for diverse battlefield, security and training missions. More information about our initial aircraft is available at www.ScorpionJet.com. About Textron Inc. Textron Inc. is a multi-industry company that leverages its global network of aircraft, defense, industrial and finance businesses to provide customers with innovative solutions and services. Textron is known around the world for its powerful brands such as Bell Helicopter, Cessna, Beechcraft, Hawker, Jacobsen, Kautex, Lycoming, E-Z-GO, Greenlee, and Textron Systems. For more information visit: www.textron.com. Certain statements in this press release are forward-looking statements which may project revenues or describe strategies, goals, outlook or other non-historical matters; these statements speak only as of the date on which they are made, and we undertake no obligation to update or revise any forward-looking statements. These statements are subject to known and unknown risks, uncertainties, and other factors that may cause our actual results to differ materially from those expressed or implied by such forward-looking statements, including, but not limited to, the efficacy of research and development investments to develop new products or unanticipated expenses in connection with the launching of significant new products or programs; the timing of our new product launches or certifications of our new aircraft products; our ability to keep pace with our competitors in the introduction of new products and upgrades with features and technologies desired by our customers; changes in foreign military funding priorities or budget constraints and determinations; changes in government regulations or policies on the export and import of military products; volatility in the global economy or changes in worldwide political conditions that adversely impact demand for our products; performance issues with key suppliers or subcontractors; and continued demand softness or volatility in the markets in which we do business.


News Article | October 21, 2015
Site: www.marketwired.com

STERLING, VA--(Marketwired - October 21, 2015) - Textron Systems Geospatial Solutions, a business of Textron Inc. ( : TXT), announced today the release and availability of its newest product, the RemoteView™ 4 geospatial intelligence (GEOINT) software on the Linux operating system. The Linux-based RemoteView 4 offers the same advanced imagery exploitation capabilities as on the Windows®-based RemoteView 4 software, giving customers a choice in application programs and embedded systems. The RemoteView 4 has an extensive set of GEOINT tools that enhance the intelligence gathering and analysis process, providing an analyst-centric graphical user interface (GUI), streamlined navigation, as well as workflow aligned toolbars and profiles, which can be customized by individual users and analytical teams. The intuitive design and alignment of these tools, with functional workflows, enable RemoteView 4 users to quickly learn and master the software's full range of capabilities. Textron Systems developed a Linux version of its premier software as part of an international teaming venture in 2014. The Linux conversion project included numerous enhancements to the analytical workflows and tools used to imagery exploitation and manipulation. "By adding the opportunity to use RemoteView 4 on the Linux operating system, we are providing customers with the same advanced capabilities, but with greater freedom of choice," Daryl Madden, senior vice president and general manager of Geospatial Solutions, said. "With this version, we were able to enhance the capabilities -- something we are always looking to do to provide our customers with the latest and greatest technology." The RemoteView 4 software offers a full spectrum of advanced geospatial exploitation capabilities as well as imagery and multi-image analysis, motion imagery analysis, geospatial data management, publishing and product generation, 3-D visualization, tactical mission planning, precision positioning and third-party-integration. Optional RemoteView extensions, including 3D Pro™, RVConnect™, V-TRAC™, Virtual Mosaic™ and RVSAR™, expand the software's power and functionality with additional customization to meet specific user requirements. RemoteView 4 Linux is ready for the commercial market. Textron Systems' businesses develop and integrate products, services and support for aerospace and defense customers, as well as civil and commercial customers including those in law enforcement, security, border patrol and critical infrastructure protection around the globe. Harnessing agility and a broad base of expertise, Textron Systems' innovative businesses design, manufacture, field and support comprehensive solutions that expand customer capabilities and deliver value. Textron Systems consists of its Advanced Information Solutions, Electronic Systems, Geospatial Solutions, Lycoming Engines, Marine & Land Systems, Support Solutions, TRU Simulation + Training, Unmanned Systems and Weapon & Sensor Systems businesses. More information is available at www.textronsystems.com. Textron Inc. is a multi-industry company that leverages its global network of aircraft, defense, industrial and finance businesses to provide customers with innovative solutions and services. Textron is known around the world for its powerful brands such as Bell Helicopter, Cessna, Beechcraft, Hawker, Jacobsen, Kautex, Lycoming, E-Z-GO, Greenlee, and Textron Systems. For more information, visit www.textron.com. Certain statements in this press release may project revenues or describe strategies, goals, outlook or other non-historical matters; these forward-looking statements speak only as of the date on which they are made, and we undertake no obligation to update them. These statements are subject to known and unknown risks, uncertainties, and other factors that may cause our actual results to differ materially from those expressed or implied by such forward-looking statements. Linux is a registered trademark of Linus Torvalds. Windows is either registered trademark or trademark of Microsoft Corporation in the U.S. and/or other countries.

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