E-Z-GO 2009 Annual Report Download - page 10

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PART I
Item 1. Business
Textron Inc. is a multi-industry company that leverages its global network of aircraft, defense, industrial and finance businesses to provide
customers with innovative products and services around the world. We have approximately 32,000 employees worldwide. Textron Inc. was
founded in 1923 and reincorporated in Delaware on July 31, 1967. Unless otherwise indicated, references to “Textron Inc.,” the “Company,” “we,”
“our” and “us” in this Annual Report on Form 10-K refer to Textron Inc. and its consolidated subsidiaries.
We conduct our business through five operating segments: Cessna, Bell, Textron Systems and Industrial, which represent our manufacturing
businesses, and Finance, which represents our finance business. A description of the business of each of our segments is set forth below. Our
business segments include operations that are unincorporated divisions of Textron Inc. and others that are separately incorporated subsidiaries.
Financial information by business segment and geographic area appears in Note 20 to the Consolidated Financial Statements on pages 86 and 87
of this Annual Report on Form 10-K. The following description of our business should be read in conjunction with “Management’s Discussion
and Analysis of Financial Condition and Results of Operations” on pages 17 through 38 of this Annual Report on Form 10-K. Information
included in this Annual Report on Form 10-K refers to our continuing businesses unless otherwise indicated.
Cessna Segment
Cessna is the world’s leading general aviation company based on unit sales with five major lines of business: Citation business jets, Caravan
single-engine utility turboprops, Cessna single-engine piston aircraft, aftermarket services and lift solutions by CitationAir. Revenues in the
Cessna segment accounted for approximately 32%, 40% and 40% of our total revenues in 2009, 2008 and 2007, respectively.
The family of business jets currently produced by Cessna includes the Mustang, Citation CJ1+, Citation CJ2+, Citation CJ3, Citation CJ4,
Citation Encore+, Citation XLS+, Citation Sovereign and Citation X. First customer deliveries of the Citation CJ4 are scheduled to commence
in 2010.
The Cessna Caravan is the world’s best-selling utility turboprop. Caravans are offered in four models: the Grand Caravan, the Super Cargomaster,
the Caravan 675 and the Caravan Amphibian. Caravans are used in the U.S. primarily for overnight express package shipments and for personal
transportation. International uses of Caravans include humanitarian flights, tourism and freight transport.
Cessna offers nine models in its single engine piston product line, which include the four-place Skyhawk, Skyhawk SP, Skylane, Turbo Skylane,
350 Corvalis and 400 Corvalis TT, the six-place Stationair and Turbo Stationair and the two-place SkyCatcher.
The Citation family of aircraft currently is supported by nine Citation Service Centers owned or operated by Cessna, along with authorized
independent service stations and centers located in more than 22 countries throughout the world. Cessna-owned Service Centers provide
customers with 24-hour service and maintenance. Cessna also provides around-the-clock parts support for Citation aircraft. Cessna Caravan and
single engine piston customers receive product support through independently owned service stations and around-the-clock parts support
through Cessna.
Cessna markets its products worldwide through its own sales force, as well as through a network of authorized independent sales representatives,
depending upon the product line. Cessna has several competitors in various market segments and increasingly faces competition internationally.
Cessna’s aircraft compete with other aircraft that vary in size, speed, range, capacity and handling characteristics on the basis of price, product
quality and reliability, product support and reputation.
Cessna’s private jet business called CitationAir (formerly, CitationShares) offers a spectrum of private aviation solutions, including Jet Cards, Jet
Shares, Jet Management and Corporate Solutions. The CitationAir fleet operates throughout the contiguous U.S. and in Canada, Mexico, Central
America, the Caribbean and Bermuda.
Bell Segment
Bell Helicopter is one of the leading suppliers of helicopters, tiltrotor aircraft, and related spare parts and services in the world. Bell manufactures
for both military and commercial applications. Revenues for Bell accounted for approximately 27%, 20% and 21% of our total revenues in 2009,
2008 and 2007, respectively.
1
Textron Inc.