Two Bizjet Manufacturers Announce Q1 Results

Textron has reported first-quarter 2010 results for its Bell Helicopter and Cessna subsidiaries, whose revenues were down $124 million and $336 million, respectively.  The Cessna declines resulted from the fact that the company delivered just 31 Citations during the quarter, less than half the number it delivered during the same time in 2009. Meanwhile, General Dynamics has reported first-quarter 2010 earnings of $599 million, up from $593 million for the same period in 2009. The company assigns much of the credit for the increase to its business aviation divisions, which include Gulfstream, Jet Aviation and General Dynamics Aviation Services. First-quarter revenues from these divisions totaled $1.4 billion, up nearly 15 percent from the previous quarter. The company says it remains on schedule with its plan to deliver approximately 77 large-cabin aircraft and 15 midsize jets this year.