E-Z-GO 2001 Annual Report Download - page 62

Quarterly Data
60 Textron Annual Report
(Unaudited) 2001 2000
(Dollars in millions except per share amounts) Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1
Revenues
Aircraft $1,391 $1,064 $1,223 $ 986 $1,251 $ 1,171 $ 1,013 $ 959
Automotive 629 579 716 677 671 654 761 838
Fastening Systems 373 389 451 466 450 469 529 548
Industrial Products 594 600 734 740 755 730 804 796
Finance 196 178 164 171 185 184 170 152
Total revenues $3,183 $2,810 $ 3,288 $3,040 $3,312 $3,208 $ 3,277 $ 3,293
Segment profit (loss)
Aircraft $132*$(31)*$112 $ 98 $139 $ 127 $ 107 $ 78
Automotive 23 14 61 60 54 40 69 81
Fastening Systems (23) 1 30 38 37 46 49 43
Industrial Products (11) (16) 76 71 83 71 103 93
Finance 59 48 40 46 56 49 44 41
Total segment profit 180 16 319 313 369 333 372 336
Special charges, net (22) (338) (35) (42) (483) – – –
Total segment operating income (loss) 158 (322) 284 271 (114) 333 372 336
Gains on sale of divisions 339 3 – – ––––
Corporate expenses and other, net (38) (33) (39) (42) (43) (34) (41) (46)
Interest expense, net (37) (41) (40) (44) (36) (42) (41) (33)
Benefit (provision) for income taxes (158) 69 (72) (66) (18) (93) (104) (93)
Distribution on preferred securities of manufacturing
subsidiary trust, net of income taxes (7) (6) (7) (6) (7) (6) (7) (6)
Income (loss) from operations before cumulative
effect of change in accounting principle 257 (330) 126 113 (218) 158 179 158
Cumulative effect of change in accounting principle,
net of income taxes –––– –––(59)
Net income (loss) $257 $ (330) $ 126 $ 113 $(218) $ 158 $ 179 $ 99
Earnings per common share
Basic:
Income (loss) from operations $1.82 $ (2.34) $ .89 $ .80 $(1.53) $ 1.10 $ 1.25 $ 1.08
Cumulative effect of change in accounting
principle, net of income taxes –––– –––(.41)
Net income (loss) $1.82 $ (2.34) $ .89 $ .80 $(1.53) $ 1.10 $ 1.25 $ .67
Average shares outstanding (in thousands) 141,256 141,196 141,055 140,733 141,969 143,185 143,981 146,281
Diluted:
Income (loss) from operations $1.81 $ (2.34) $ .88 $ .79 $(1.53) $ 1.08 $ 1.23 $ 1.06
Cumulative effect of change in accounting
principle, net of income taxes –––– –––(.40)
Net income (loss) $1.81 $ (2.34) $ .88 $ .79 $(1.53) $ 1.08 $ 1.23 $ .66
Average shares outstanding (in thousands)* * 142,460 141,196 143,411 142,752 141,969 145,325 146,304 148,818
Segment profit margins
Aircraft 9.5)%(2.9)% 9.2)%9.9)%11.1)%10.8)%10.6)%8.1)%
Automotive 3.7 2.4 8.5 8.9 8.0 6.1 9.1 9.7
Fastening Systems (6.2) 0.3 6.7 8.2 8.2 9.8 9.3 7.8
Industrial Products (1.9) (2.7) 10.4 9.6 11.0 9.7 12.8 11.7
Finance 30.1 27.0 24.4 26.9 30.3 26.6 25.9 27.0
Segment profit margin 5.7 0.6 9.7 10.3 11.1 10.4 11.4 10.2
Common stock information
Price range: High $42.40 $56.90 $59.89 $ 59.26 $55.38 $ 60.38 $ 65.56 $ 74.94
Low $31.65 $ 32.80 $ 52.95 $45.94 $41.44 $44.88 $ 53.94 $ 51.50
Dividends per share $.325 $ .325 $ .325 $ .325 $.325 $ .325 $ .325 $ .325
*See M anagement’s Discussion and Analysis for Bell Helicopter on page 21.
* * Assumes full conversion of outstanding preferred stock and exercise of options. The average share base for the third quarter 2001 and 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 operations.