For Textron, 2013was a pivotal year. We realized $12.1 billion in total revenues and
saw an operating profit of $963million. In our Industrial segment, acquisition and
product innovation led to a four percent increase in revenues compared to 2012.
At Bell Helicopter, the delivery of 41 V-22s and a double-digit rise in commercial
deliveries contributed to a six percent increase in revenues over last year. The
certification of three newCessnamodels in 2013 positioned us for future growth
as global markets gainmomentum. At Textron Systems, we steadily grew our
international customer base, capturing significant contracts from new customers in
theMiddle East and Asia Pacific regions.
Fellow
Shareholders,
Innovation toDriveGrowth
A
cross all of our businesses, innovationmatters—
and this was the year we set out to prove it.
Anticipating themilitary’s next generation
rotorcraft needs, Bell Helicopter presented
the V-280 Valor as the ready contender for the U.S.
Department of Defense’s future vertical lift program
and a viable option for foreignmilitary applications.
Upgrades to our unmanned aircraft systems
allowed for broader, more strategicmissions while
enhancements to our intelligence-gathering software
improved analysts’ ability to view and customize
critical data. We introduced our expanded family of
COMMANDO™ armored vehicles to equip soldiers
with a greater range of firepower, as well as a vehicle
for safe to-and-from-base transport. Additionally, for
global military customers, Textron AirLand launched
the successful first flight of our Scorpion intelligence,
surveillance and reconnaissance aircraft, making it
one of the fastest-developed, American-made, tactical
jets—progressing from initial design to first flight in
less than 24months.
For commercial customers, Bell Helicopter announced
plans to return to the short-light single-engine
helicopter market with amodern version of its popular
JetRanger™. Also in 2013, Bell Helicopter made
enhancements to several products in its lineup, offering
customers improved situational awareness and safety;
greater landing and taxiingmaneuverability; and
increased speed, range and load capacities. In addition
to certifying newmodels for delivery in 2013, Cessna
introduced advanced diagnostic service technology in
newCitations and continued to hit major production
milestones for the Citation X+ and Latitude. Across
our Industrial segment, we introducedmore than 30
new products for our warehousing, industrial transport,
turf care, utility and electrician customers; upgraded
several of our most popular golf cars and rugged
outdoor sporting vehicles for amore comfortable and
quieter ride; and saw innovation deliver value in the
form of major contracts for Kautex carbon canisters
and catalytic reduction systems for some of theworld’s
largest automakers.
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