Textron Inc., the maker of Bell
helicopters and Cessna airplanes, said it plans to increase its
sales by at least 9.5 percent in 2006 from last year.
Sales in 2006 will be between $10.8 billion and
$11.4 billion, from $9.86 billion last year, the Providence-based company said in material posted on its Web
site for a meeting with analysts today in New York. Sales this
year will fall about 2 percent from last year, it said.
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Revenue at Textron, which also sells products ranging from
golf carts to the V-22 Osprey military plane, has fallen for
three straight years, mainly because of declining deliveries for
its Citation business jets. Chief Executive Officer Lewis
Campbell since 2000 has sold businesses and fired workers in an
effort to reduce annual costs by $480 million by the end of 2005.
The company expects a return on invested capital, a measure
of profitability, to increase to between 11 percent and
13 percent in 2006 from 8.6 percent last year.
Bloomberg News
