E-Z-GO 2010 Annual Report Download - page 95

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83
Quarterly Data
(Unaudited) 2010
2009
(Dollars in millions, except per share amounts) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Revenues
Cessna
$ 433
$ 635
$ 535
$ 960
$ 769
$ 871
$ 825
$ 855
Bell
618
823
825
975
742
670
628
802
Textron Systems
458
534
460
527
418
477
502
502
Industrial
625
661
600
638
475
508
523
572
Finance
76
56
59
27
122
86
71
82
Total revenues
$ 2,210
$ 2,709
$ 2,479
$ 3,127
$ 2,526
$ 2,612
$ 2,549
$ 2,813
Segment profit
Cessna
$ (24)
$ 3
$ (31)
$ 23
$ 90
$ 48
$ 32
$ 28
Bell
74
108
107
138
69
72
79
84
Textron Systems
55
70
50
55
52
55
68
65
Industrial
49
51
37
25
(9)
12
6
18
Finance
(58)
(71)
(51)
(57)
(66)
(99)
(64)
(65)
Total segment profit
96
161
112
184
136
88
121
130
Special charges (a)
(12)
(10)
(114)
(54)
(32)
(129)
(42)
(114)
Corporate expenses and other, net
(37)
(17)
(35)
(48)
(35)
(45)
(44)
(40)
Interest expense, net for Manufacturing group
(36)
(35)
(32)
(37)
(28)
(34)
(40)
(41)
Income tax benefit (expense)
(15)
(18)
21
18
2
58
11
5
Income (loss) from continuing operations
(4)
81
(48)
63
43
(62)
6
(60)
Income (loss) from discontinued operations,
net of income taxes (4) 1
—
(3)
43 4 (2)
(3)
Net income (loss)
$ (8)
$ 82
$ (48)
$ 60
$ 86
$ (58)
$ 4
$ (63)
Basic earnings per share
Continuing operations
$ (0.01)
$ 0.30
$ (0.17)
$ 0.23
$ 0.18
$ (0.23)
$ 0.02
$ (0.22)
Discontinued operations
(0.02)
—
—
(0.01)
0.17
0.01
(0.01)
(0.01)
Basic earnings per share
$ (0.03)
$ 0.30
$ (0.17)
$ 0.22
$ 0.35
$ (0.22)
$ 0.01
$ (0.23)
Basic average shares outstanding (In thousands)
273,174
274,098
274,896
275,640
243,988
264,091
271,224
272,168
Diluted earnings per share (b)
Continuing operations
$ (0.01)
$ 0.27
$ (0.17)
$ 0.20
$ 0.18
$ (0.23)
$ 0.02
$ (0.22)
Discontinued operations
(0.02)
—
—
(0.01)
0.17
0.01
(0.01)
(0.01)
Diluted earnings per share
$ (0.03)
$ 0.27
$ (0.17)
$ 0.19
$ 0.35
$ (0.22)
$ 0.01
$ (0.23)
Diluted average shares outstanding (In thousands)
273,174
302,397
274,896
308,491
244,956
264,091
278,429
272,168
Segment profit margins
Cessna
(5.5)%
0.5%
(5.8)%
2.4%
11.7%
5.5%
3.9%
3.3%
Bell
12.0
13.1
13.0
14.2
9.3
10.7
12.6
10.5
Textron Systems
12.0
13.1
10.9
10.4
12.4
11.5
13.5
12.9
Industrial
7.8
7.7
6.2
3.9
(1.9)
2.4
1.1
3.1
Finance
(76.3)
(126.8)
(86.4)
(211.1)
(54.1)
(115.1)
(90.1)
(79.3)
Segment profit margin
4.3%
5.9%
4.5%
5.9%
5.4%
3.4%
4.7%
4.6%
Common stock information (b)
Price range:
High
$ 23.46
$ 25.30
$ 21.52
$ 24.18
$ 16.52
$ 14.37
$ 20.99
$ 21.00
Low
$ 17.96
$ 15.88
$ 16.02
$ 19.92
$ 3.57
$ 7.13
$ 8.51
$ 17.55
Dividends declared per share
$ 0.02
$ 0.02
$ 0.02
$ 0.02
$ 0.02
$ 0.02
$ 0.02
$ 0.02
(a) Special charges include restructuring charges of $99 million and $237 million in 2010 and 2009, respectively, primarily related to
severance and asset impairment charges. In addition, in the third quarter of 2010, special charges include a $91 million non-cash
pre-tax charge to reclassify a foreign exchange loss from equity to the income statement as a result of substantially liquidating a
Finance segment entity. Also, in the fourth quarter of 2009, special charges include a goodwill impairment charge of $80 million
in the Industrial segment.
(b) For the first and third quarters of 2010 and the second and fourth quarters of 2009, the potential dilutive effect of stock options,
restricted stock units and the shares that could be issued upon the conversion of our 4.50% Convertible Senior Notes and upon the
exercise of the related warrants was excluded from the computation of diluted weighted-average shares outstanding as the shares
would have an anti-dilutive effect on the loss from continuing operations.