Cessna Aircraft and Bell Helicopter Make Headlines at Premier Aviation
Providence, RI - November 17, 2005 - Textron Inc.
(NYSE:TXT) today reported that its Cessna Aircraft and Bell Helicopter
businesses have once again yielded strong customer orders and new
business opportunities resulting from products announced and/or
showcased at the annual National Business Aviation Association (NBAA)
convention, held last week in Orlando, FL.
In total, Cessna received 52 Citation jet orders, worth more than $500
million and Bell received 35 helicopter orders, worth more than $100
Cessna's Citation orders include a $200 million, 20-aircraft deal with
Vienna-based Jetalliance, to support its Eastern European expansion.
Cessna also received 18 customer orders for its Caravan turboprop and
single engine piston aircraft.
During the show, Cessna unveiled its newest aircraft, the Cessna
Citation Encore+, a successor to the popular Encore. The Encore+
provides customers with a new integrated avionics suite, increased
payload capabilities and efficiencies, and improved cabin lighting. In
addition, for the first time at NBAA, Cessna displayed its
newly-certified Citation CJ1+ and CJ2+ -- both announced at last year's
show. The company also showcased its new entry-level light jet, the
Citation Mustang, which is currently in flight testing with anticipated
certification during the fourth quarter of next year.
Bell Helicopter shattered its previous NBAA sales records with aircraft
orders across its commercial helicopter line -- largely for its new 429
model, unveiled earlier this year, and for its popular 407 model.
"I am nothing short of thrilled with the results from this year's NBAA
show," said Lewis B. Campbell, Textron's Chairman, President and CEO.
"Not only did our businesses capture headlines this year with
significant news and product announcements, but our order intake was
"In addition, Bell more than tripled its results from last year's show
-- which had previously been its best show in decades," added Campbell.
"These results not only signal solid improvements in some of our most
important end-markets, but also reflect the strong customer focus and
achievements coming out of our businesses. The kind of customer focus,
incidentally, that has earned both Bell and Cessna the top spot in
customer service ratings in their respective categories from ProPilot
Cessna, a Textron Company, is the world's largest manufacturer of
general aviation aircraft. In 2004, Cessna delivered more than 900
aircraft and reported revenues of about $2.5 billion. The global fleet
of more than 4,500 Citations is the largest fleet of business jets in
the world. More information about Cessna Aircraft Company is available
Bell Helicopter, a Textron company, is a leading producer of commercial
and military helicopters and the pioneer of the revolutionary tilt rotor
aircraft. Globally recognized for customer service, innovation and
superior quality, Bell's global workforce of over 8,000 employees serves
customers flying Bell aircraft in over 120 countries.
Textron Inc. is a $10 billion multi-industry company with more than
44,000 employees in 40 countries. The company leverages its global
network of aircraft, industrial and finance businesses to provide
customers with innovative solutions and services. Textron is known
around the world for its powerful brands such as Bell Helicopter, Cessna
Aircraft, Jacobsen, Kautex, Lycoming, E-Z-GO and Greenlee, among others.
More information is available at www.textron.com.
Forward-looking Information: Certain statements in this report and
other oral and written statements made by Textron from time to time are
forward-looking statements, including those that discuss strategies,
goals, outlook or other non-historical matters; or project revenues,
income, returns or other financial measures. These forward-looking
statements speak only as of the date on which they are made, and we
undertake no obligation to update or revise any forward-looking
statements. These forward-looking statements are subject to risks and
uncertainties that may cause actual results to differ materially from
those contained in the statements, including the following: [a] the
extent to which Textron is able to achieve savings from its
restructuring plans; [b] uncertainty in estimating the amount and timing
of restructuring charges and related costs; [c] changes in worldwide
economic and political conditions that impact interest and foreign
exchange rates; [d] the interruption of production at Textron facilities
or Textron's customers or suppliers; [e] Textron's ability to perform as
anticipated and to control costs under contracts with the U.S.
Government; [f] the U.S. Government's ability to unilaterally modify or
terminate its contracts with Textron for the Government's convenience or
for Textron's failure to perform, to change applicable procurement and
accounting policies, and, under certain circumstances, to suspend or
debar Textron as a contractor eligible to receive future contract
awards; [g] changes in national or international funding priorities and
government policies on the export and import of military and commercial
products; [h] the adequacy of cost estimates for various customer care
programs including servicing warranties; [i] the ability to control
costs and successful implementation of various cost reduction programs;
[j] the timing of certifications of new aircraft products; [k] the
occurrence of slowdowns or downturns in customer markets in which
Textron products are sold or supplied or where Textron Financial offers
financing; [l] changes in aircraft delivery schedules or cancellation of
orders; [m] the impact of changes in tax legislation; [n] the extent to
which Textron is able to pass raw material price increases through to
customers or offset such price increases by reducing other costs;
[o]Textron's ability to offset, through cost reductions, pricing
pressure brought by original equipment manufacturer customers; [p]
Textron's ability to realize full value of receivables and investments
in securities; [q] the availability and cost of insurance; [r] increases
in pension expenses related to lower than expected asset performance or
changes in discount rates; [s] Textron Financial's ability to maintain
portfolio credit quality; [t] Textron Financial's access to debt
financing at competitive rates; [u] uncertainty in estimating contingent
liabilities and establishing reserves to address such contingencies; [v]
performance of acquisitions; [w] the efficacy of research and
development investments to develop new products; and [x] bankruptcy or
other financial problems at major suppliers or customers that could
cause disruptions in Textron's supply chain or difficulty in collecting
amounts owed by such customers.