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Textron fiscal Q1 profit climbs 30.5% YOY

Textron Inc. said its normalized net income for the fiscal first quarter ended April 4 amounted to 41 cents per share, compared with the S&P Capital IQ consensus estimate of 48 cents per share.

EPS climbed 32.0% year over year from 31 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $115.0 million, an increase of 30.5% from $88.1 million in the first quarter ended March 29, 2014.

The normalized profit margin increased to 3.7% from 3.1% in the year-earlier period.

Total revenue rose 7.9% year over year to $3.07 billion from $2.85 billion, and total operating expenses grew 6.9% on an annual basis to $2.86 billion from $2.67 billion.

Reported net income rose 46.7% from the prior-year period to $128.8 million, or 46 cents per share, from $87.8 million, or 31 cents per share.