E-Z-GO 2000 Annual Report Download - page 61

(Unaudited)
(Dollars in millions except per share amounts) 2000 1999
Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1
Revenues
Aircraft $1,251 $1,171 $1,013 $ 959 $1,267 $ 955 $ 937 $ 860
Automotive 671 654 761 838 747 652 746 723
Fastening Systems 487 504 562 584 535 497 550 500
Industrial Products 718 695 771 760 678 539 602 603
Finance 185 184 170 152 141 122 104 96
Total revenues $3,312 $3,208 $3,277 $3,293 $3,368 $2,765 $2,939 $2,782
Income (loss)
Aircraft $ 139 $ 127 $ 107 $ 78 $ 129 $ 91 $ 75 $ 67
Automotive 54 40 69 81 63 37 59 61
Fastening Systems 37 47 51 47 37 43 54 56
Industrial Products 83 70 101 89 78 74 82 67
Finance 56 49 44 41 34 38 30 26
Total segment profit 369 333 372 336 341 283 300 277
Special charges, net (483) ––– – 3 (2) –
Total segment operating income (loss) (114) 333 372 336 341 286 298 277
Corporate expenses and other, net (43) (34) (41) (46) (33) (37) (35) (38)
Interest income 6––– 14616
Interest expense (42) (42) (41) (33) (29) (11) (3) (13)
Income taxes (18) (93) (104) (93) (103) (90) (97) (91)
Distribution on preferred securities of manufacturing
subsidiary trust, net of income taxes (7) (6) (7) (6) (7) (6) (7) (6)
Income (loss) from continuing operations (218) 158 179 158 170 146 162 145
Gain on disposal of discontinued operations,
net of income taxes –– –– 31 – – 1,615
Income (loss) before extraordinary loss and
cumulative effect of change in accounting principle (218) 158 179 158 201 146 162 1,760
Extraordinary loss from debt
retirement, net of income taxes –– –– – – – (43)
Cumulative effect of change in
accounting principle, net of income taxes –– –(59) ––––
Net income (loss) $ (218) $ 158 $ 179 $ 99 $ 201 $ 146 $ 162 $1,717
Earnings per common share
Basic:
Income (loss) from continuing operations $ (1.53) $ 1.10 $ 1.25 $ 1.08 $ 1.14 $ .97 $ 1.08 $ .95
Discontinued operations, net of income taxes –– – – .21 – – 10.59
Extraordinary loss from debt
retirement, net of income taxes –– –– – – – (.28)
Cumulative effect of change in accounting
principle, net of income taxes –– –(.41) ––––
Net income (loss) $ (1.53) $ 1.10 $ 1.25 $ .67 $ 1.35 $ .97 $ 1.08 $11.26
Average shares outstanding (in thousands) 141,969 143,185 143,981 146,281 148,309 150,069 150,512 152,517
Diluted:
Income (loss) from continuing operations $ (1.53) $ 1.08 $ 1.23 $ 1.06 $ 1.12 $ .95 $ 1.05 $ .93
Discontinued operations, net of income taxes –– – – .21 – – 10.34
Extraordinary loss from debt
retirement, net of income taxes –– –– – – – (.27)
Cumulative effect of change in accounting
principle, net of income taxes –– –(.40) ––––
Net income (loss) $ (1.53) $ 1.08 $ 1.23 $ .66 $ 1.33 $ .95 $ 1.05 $11.00
Average shares outstanding (in thousands)* 141,969 145,325 146,304 148,818 151,267 153,406 154,096 156,112
Segment profit margins
Aircraft 11.1% 10.8% 10.6% 8.1% 10.2% 9.5% 8.0% 7.8%
Automotive 8.0 6.1 9.1 9.7 8.4 5.7 7.9 8.4
Fastening Systems 7.6 9.3 9.1 8.0 6.9 8.7 9.8 11.2
Industrial Products 11.6 10.1 13.1 11.7 11.5 13.7 13.6 11.1
Finance 30.3 26.6 25.9 27.0 24.1 31.1 28.8 27.1
Segment profit margin 11.1 10.4 11.4 10.2 10.1 10.2 10.2 10.0
Common stock information
Price range: High $55.38 $60.38 $65.56 $74.94 $77.75 $ 90.50 $97.00 $81.44
Price range: Low $41.44 $44.88 $53.94 $51.50 $68.44 $ 74.50 $78.31 $70.00
Dividends per share $ .325 $ .325 $ .325 $ .325 $ .325 $ .325 $ .325 $ .325
*Assumes full conversion of outstanding preferred stock and exercise of options. The average share base for the fourth quarter 2000 excludes potentially dilutive common shares
(convertible preferred stock and stock options). These shares are excluded due to their antidilutive effect resulting from the loss from continuing operations.
Quarterly Data
59 TEXTRON 2000 ANNUAL REPORT