Textron Inc. Q4 Profit Decreases, but beats estimates

(RTTNews) - Textron Inc. (TXT) announced a profit for fourth quarter that decreased from last year but beat the Street estimates.

The company's bottom line totaled $199 million, or $1.01 per share. This compares with $226 million, or $1.07 per share, in last year's fourth quarter.

Excluding items, Textron Inc. reported adjusted earnings of $316 million or $1.60 per share for the period.

Analysts on average had expected the company to earn $1.54 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 6.9% to $3.89 billion from $3.64 billion last year.

Textron Inc. earnings at a glance (GAAP) :

-Earnings (Q4): $199 Mln. vs. $226 Mln. last year. -EPS (Q4): $1.01 vs. $1.07 last year. -Analyst Estimates: $1.54 -Revenue (Q4): $3.89 Bln vs. $3.64 Bln last year.