E-Z-GO 2014 Annual Report Download - page 3

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2014 was a year of signicant growth for our company. Fueled by our strategic investments
in new products and acquisitions, and strong performances by our businesses, we generated
$13.9 billion in total revenues and a segment prot of $1.2 billion. This represents a 15%
increase in revenues and a 26% increase in segment prot over the previous year.
PROGRESS ACROSS OUR
BUSINESSES
Our businesses made progress on a
number of fronts. At Textron Aviation, the
acquisition of Beechcraft and encouraging
trends in business aviation helped increase
revenues from $2.8 billion in 2013 to
$4.6 billion in 2014. Bell Helicopter moved
forward on several new products, including
the 505 Jet Ranger X, which made its rst
ight just 20 months after the program’s
launch, and the new Bell 525, which
continues to make progress toward its
rst ight. On the military side, Bell’s
next-generation tiltrotor, the V-280 Valor,
achieved a major milestone in being
selected as one of two aircraft to compete
for the U.S. Department of Defense’s
Future Vertical Lift Program. This program
is worth an estimated $100 billion and is
expected to replace 2,000 to 4,000
medium-class utility and attack helicopters.
In our Industrial segment, segment prot
increased 16% over last year as the
businesses focused on the introduction of
new products, strategic acquisitions and
distribution channel expansion. Our
Textron Systems segment secured notable
domestic and international contract wins,
reecting a strong focus on aligning its
businesses’ products with customer
needs. Our TRU Simulation + Training
business substantially grew its aviation
customer base, including a contract to
supply full-ight simulators for Boeing’s
latest single-aisle airplane, the 737 MAX.
Winning such a competitive commercial
airplane program demonstrates the
condence that customers have in TRU
to deliver sophisticated ight training
requirements for their operations.
At Textron Financial, we completed
another successful year of providing our
customers with attractive nancing
options in support of Textron aircraft
product sales.
STRATEGIC ACQUISITIONS TO
EXPAND OUR MARKETS
A key element of our strategy is acquiring
businesses that will help us realize new
market opportunities, grow our customer
base and provide a greater range of
products and services to customers. In
2014, we acquired several businesses that
complement our product lines and add new
capabilities to our existing operations. Our
largest acquisition was Beech Holdings LLC,
which brought the iconic Beechcraft and
Hawker brands into the Textron family. With
Beechcraft, we have signicantly expanded
our portfolio to include the King Air and T-6
product families and Hawker parts and
services, and now have a greatly extended
service footprint for our global customer
base of more than 250,000 aircraft.
Within our Industrial segment, our Textron
Specialized Vehicles group of businesses
continued to widen its reach into new
customer markets through the acquisition
FELLOW SHAREHOLDERS,
Tex tron
Systems
Bell
Helicopter
Textron Aviation
TOTAL REVENUES BY SEGMENT
Industrial
Finance
$4.6B
$4.3B
$3.3B
$0.1B
$1.6B