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Income, Sales Fall At Textron In Opening Quarter

Cal Biesecker By
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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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