E-Z-GO 1998 Annual Report Download - page 60

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Quarterly Data
(Unaudited) (Dollars in millions
except per share amounts)
1998 1997
Q4
Q3 Q2 Q1
Q4
Q3 Q2 Q1
Revenues
Aircraft $ 849 $ 826 $ 858 $ 656 $ 866 $ 725 $ 755 $ 679
Automotive 670 534 583 618 583 464 523 557
Industrial 984 893 952 893 796 761 839 785
Finance 92 99 91 85 86 92 90 82
Total revenues $2,595 $2,352 $2,484 $2,252 $2,331 $2,042 $2,207 $2,103
Income
Aircraft $ 95 $ 91 $ 91 $ 61 $95 $79 $79 $60
Automotive 51 29 43 56 39 28 33 50
Industrial 104 103 108 95 83 87 94 82
Finance 28 33 27 25 28 29 27 24
Total operating income 278 256 269 237 245 223 233 216
Gain on sale of division – – 97 – –– – –
Special charges – – (87) – –– – –
Corporate expenses and other – net (34) (32) (30) (31) (41) (36) (30) (33)
Interest expense – net (44) (40) (40) (36) (28) (32) (30) (39)
Income taxes (73) (70) (86) (65) (68) (58) (66) (58)
Distributions on preferred securities
of subsidiary trust, net of income taxes (7) (6) (7) (6) (7) (6) (7) (6)
Income from continuing operations 120 108 116 99 101 91 100 80
Discontinued operations,
net of income taxes 40 34 48 43 49 47 45 45
Net income $ 160 $ 142 $ 164 $ 142 $ 150 $ 138 $ 145 $ 125
Earnings per common share
Basic:
Income from continuing operations $ .76 $ .67 $ .71 $ .60 $ .62 $ .55 $ .60 $ .48
Discontinued operations .26 .20 .29 .27 .30 .28 .28 .27
Net income $ 1.02 $ .87 $ 1.00 $ .87 $ .92 $ .83 $ .88 $ .75
Average shares outstanding
(in thousands) 157,225 162,156 163,613 162,809 163,697 164,912 165,173 165,897
Diluted:
Income from continuing operations $ .74 $ .65 $ .70 $ .59 $ .60 $ .54 $ .59 $ .47
Discontinued operations .26 .20 .28 .26 .29 .27 .27 .26
Net income $ 1.00 $ .85 $ .98 $ .85 $ .89 $ .81 $ .86 $ .73
Average shares outstanding
(in thousands)* 160,980 166,116 168,027 167,155 168,527 169,675 169,797 170,388
Operating income margins
Aircraft 11.2% 11.0% 10.6% 9.3% 11.0% 10.9% 10.5% 8.8%
Automotive 7.6 5.4 7.4 9.1 6.7 6.0 6.3 9.0
Industrial 10.6 11.5 11.3 10.6 10.4 11.4 11.2 10.4
Finance 30.4 33.3 29.7 29.4 32.6 31.5 30.0 29.3
Operating income margin 10.7 10.9 10.8 10.5 10.5 10.9 10.6 10.3
Common stock information
Price range: High $79
1⁄4$76
1⁄2$ 805⁄16 $ 79 $6511⁄16 $70
3⁄4$6711⁄16 $ 535⁄8
Price range: Low $521⁄16 $5615⁄16 $ 695⁄8$56
3⁄8$ 551⁄2$ 591⁄2$4911⁄16 $45
Dividends per share $ .285 $ .285 $ .285 $ .285 $ .25 $ .25 $ .25 $ .25
*Assumes full conversion of outstanding preferred stock and exercise of stock options.
Prior year amounts have been reclassified to conform to the current year’s segment presentation.
56 1998 TEXTRON ANNUAL REPORT