E-Z-GO 1998 Annual Report Download - page 22

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finance
78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98
$1.4
$69.6
OPERATING MARGIN
FINANCE (dollars in millions)
REVENUES
RECEIVABLES
OPERATING INCOME
1998
$ 367
$3,612
$ 113
1997
$ 350
$3,069
30.8% 30.9%
$ 108
RETURN ON EQUITY 16.2% 16.8%
% CHANGE
5%
18%
5%
18
Experience. Service.
Knowledge.
1998 marks Textron Financial Corporation’s
(TFC’s) 20th consecutive year of continuous earnings improvement — an
impressive record for a business known for delivering innovative commercial
financing solutions.
TFC’s success begins with a long-standing commitment to provide competi-
tive financing to Textron customers for the purchase of Bell helicopters, Cessna
aircraft, E-Z-GO golf cars, and Jacobsen and Ransomes turf-care equipment.
Since the mid-eighties, this success has extended into transactions outside of
Textron’s family of products, which now represent two-thirds of TFC’s portfolio.
Our strategy focuses on finding under-served niche markets and designing
innovative, customized lending solutions. In TFC’s Golf Finance division, for
example, we offer industry-specific knowledge necessary for an effective loan,
as well as the flexibility to create a package that fits customers’ business needs.
Our lending experience extends to a broad range of industries — from truck-
ing and commercial printing to franchise businesses and timeshare resorts. The
product knowledge we possess within TFC’s 15 divisions is unparalleled. Our
ISO 9001-certified information systems technology helps us keep pace with
rapid changes in the marketplace. This fast response time and our outstanding
customer service are attributes that our competitors strive to replicate.
At TFC, our reputation as a solid business institution gives us access to a
large network of financial institutions with which we partner to meet the
financial needs of a wide range of customers. And with strong credit quality
as the fundamental tenet in our successful lending strategy, we are well posi-
tioned to achieve many more years of excellent performance.
20 Consecutive Years of
Income Growth
($ in millions)
(21%)
EQUIPMENT
(25%)
GOLF
(16%)
OTHER
(10%)
AIRCRAFT
(28%)
REVOLVING CREDIT
Textron Financial Corporation
Total Receivables - $3.6 billion
finance