:

Business/Financial

Income, Sales Fall At Textron In Opening Quarter

By Cal Biesecker

Wednesday, April 19th, 2017

SHARE:

Income, Sales Fall At Textron In Opening Quarter

Textron's Scorpion jet flying over White Sands Missile Range, N.M. The second production Scorpion made its first flight test this week. Photo: Textron

Textron Inc. [TXT] on Wednesday posted a drop in net income and sales in the first quarter driven by declines in most of its operating segments and charges related to a recent acquisition and ongoing restructuring actions.Net income tumbled 33 percent to $101 million, 37 cents earnings per share (EPS), from $150 million (55 cents EPS) a year ago. The bottom line results in the quarter included an after tax charge of 9 cents EPS due to the acquisition of…

Army

Hegseth Says DoD Open To Reviewing Army’s Planned Cuts To Legacy Helicopter Procurement

Defense Secretary Pete Hegseth has told lawmakers the Pentagon is open to reviewing the Army’s planned procurement cuts to its legacy manned aviation fleet. Rep. Rosa DeLauro (D-Conn.), ranking member […]

Congress

Appropriators Press For Details On Iran War Costs; DoD’s $29B Estimate Doesn’t Include Base Damage

The Pentagon estimates the U.S.’ ongoing conflict with Iran has now cost at least $29 billion, while a lead official noted the updated figure does not factor in damage to […]

Congress

Appropriators Offer Skepticism On $350B Defense Reconciliation Plan, ‘Big Risk’ For Key Initiatives

Senate and House Appropriators told Pentagon leadership on Tuesday they’re skeptical of the department’s plan to fund $350 billion of the fiscal year 2027 defense budget through the reconciliation process, […]

Congress

All Future Systems Should Have Autonomy Features, Reed Says

Last week, Sen. Jack Reed (D-R.I.) visited North Kingstown, R.I.-based Senesco, which is teaming with autonomous systems company Havoc to bid on the U.S. Navy’s Medium Unmanned Surface Vessel program. […]