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Textron Inc. – parent company of Bell Helicopter, Cessna Aircraft Co. and Textron Systems – reported that its net income dropped 28.6 percent in the first quarter to $85 million, or 30 cents per diluted share, due in part to restructuring costs incurred by the manufacturer’s acquisition in March of Beech Holdings LLC. more
The U.S. Navy has awarded a $17.6 billion contract to General Dynamics Corp. and Newport News Shipbuilding for the next block of 10 Virginia-class submarines to be built beginning in fiscal year 2014 and continuing on to fiscal 2018. more
Jewelry maker Alex and Ani LLC is replacing its chief financial officer and adding six new senior executives as part of a 250-employee national expansion, the company announced Monday. more
Astro-Med Inc., maker of specialty printers and data-acquisition systems, posted fiscal first-quarter net income of $1.1 million, or 14 cents per diluted share, reversing the net loss of $449,000, or six cents per diluted share, reported during the same period last year. more
Gasoline prices dropped 2 cents in Rhode Island and remained unchanged in Massachusetts this week, according to the weekly survey by AAA Southern New England. more
Rhode Island added 1,100 construction jobs between May 2013 and May 2014, an increase of 6.8 percent that ranked the state 12th in the country for highest percentage of construction jobs gained year over year, the Associated General Contractors of America reported. more
South Korea’s military is buying one of the top anti-armor weapons developed by the Pentagon, a Textron Inc. system designed to destroy tanks and vehicles. more
Bell Helicopter, a subsidiary of Providence-based manufacturer Textron Inc., will lay off 325 workers due to the continued decline in defense contracts, the Fort Worth Star-Telegram reported Monday. more
Companies in the Providence-Fall River-Warwick metro area added 800 jobs year over year in May, an increase of 4 percent compared with May 2013, landing the region at No. 134 among the 339 U.S. metro areas in terms of year-over-year net employment gain. more
Construction employment in the Providence-Fall River-Warwick metro area increased 2 percent between February 2013 and February 2014, according to The Associated General Contractors of America monthly jobs report released Wednesday. more
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