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Income, Sales Fall At Textron In Opening Quarter

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…

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