Cessna Posts Gains in Third Quarter

Increases attributed to cost performance, jet sales.

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Cessna Aircraft

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.

During the quarter, Cessna increased revenues by $236 million and delivered 47 new Citation jets, compared with 26 deliveries in the same period of 2010.

The report comes on the heels of Cessna's launch of two new jets, the Citation Latitude and the Citation M2.