EARNINGS : Textron Gains 1.3% in Quarter
PROVIDENCE, R.I. — Textron Inc. said today its fourth-quarter earnings edged up 1.3% over the figure a year ago on a 6.4% increase in revenue.
The conglomerate, which has interests in aerospace technology, commercial products and financial services, reported earnings of $78.1 million, or 90 cents per share in the quarter ended Dec. 29, compared to $77.1 million, or 85 cents per share a year earlier.
Sales were $2.1 billion, compared to $2 billion a year ago.
Earnings per share rose faster than earnings because there were 86.8 million shares outstanding this year compared to almost 90.7 million in the fourth quarter of 1989. Textron began buying back its shares last year.
For the year, Textron reported earnings of $283 million, or $3.18 per share, up 9.3% from $259 million, or $2.91 per share, a year ago.
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