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Business Jet Demand, Defense Profits Drive Boost Textron

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Textron [TXT] yesterday reported strong sales and earnings growth, driven by demand for business jets, defense equipment and the company's acquisition of AAI Corp. Net income increased 18 percent to $231 million, 91 cents earnings per share (EPS), from $196 million (77 cents EPS) a year ago. Free cash flow was $78 million. Sales grew 19 percent to $3.5 billion from $3 billion, with the growth driven by the Defense & Intelligence segment, which benefited acquisition of AAI Corp., and…

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