Cessna Posts Gains in Third Quarter

Bethany Whitfield

Thursday, October 20, 2011 at 07:04 PM ET

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Cessna Aircraft

Key Takeaways:

Textron, parent company of Cessna, reported strong third-quarter growth with total revenues of $2.8 billion, a 13.5 percent increase from the same period last year.
Cessna was a significant contributor to this growth, increasing its revenues by $236 million and delivering 47 new Citation jets, a considerable rise from 26 deliveries in the prior year.
The growth was attributed to "good execution and cost performance" at Cessna and Bell, following Cessna's recent launch of two new jets, the Citation Latitude and Citation M2.

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Cessna parent company Textron reported third quarter growth yesterday, with revenues totaling $2.8 billion.

The gains constitute an increase of 13.5 percent from the same period last year and include a 15 percent increase in manufacturing revenues. According to Textron Chairman and CEO Scott Donnelly, the gains were buoyed by “good execution and cost performance” at Cessna and its sister company Bell.