Projo Biz Blog

Providence-based Textron Inc. says it will meet its financial targets despite the slowing U.S. economy, the Reuters news agency reported.

In a meeting with analysts on Thursday, Textron Chief Executive Officer Lewis B. Campbell said the company, a major defense contractor through its Bell Helicopter division, is prepared to weather the downturn.

"We are particularly well placed for most anybody's forecast of what could happen in the economy," Campbell said. "We probably have never been in better shape if there were to be an economic downturn."

Campbell cited a large order backlog for corporate jets made by its Cessna Aircraft Co. division and strong sales of helicopters for oil exploration, Reuters reported.

Also at the meeting, Cessna executives gave a business review of the new intercontinental, large-cabin Citation aircraft.

Textron saw fourth-quarter earnings rise 31 percent on increased aircraft deliveries, The Providence Journal reported last month. The company's profit forecast, however, fell short of analysts’ estimates.

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