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Business Description
Textron Inc. is a global multi-industry company with operations in five business segments: Aircraft, Fastening Systems, Industrial Components, Industrial Products and Finance. The Company manufactures helicopters, light and mid-size business jets, aircraft engine parts and components, fastening systems, plastic fuel tank systems, pumps and systems used in power generation, mechanical power transmission components, tools and testing equipment for the cable industry, advanced systems for defense and aerospace applications and diversified commercial finance services. The Company's subsidiaries and brand names include Bell Helicopter; Cessna Aircraft Company; Lycoming; Textron Fastening Systems; Kautex; Textron Fluid Handling Products; Textron Power Transmission; Greenlee; OmniQuip; Tempo; Textron Golf, Turf & Specialty Products; Textron Systems, and Textron Financial.

Financial Information
TXT is engaged in the manufacture of helicopters and spare parts, light and mid-size business jets, turboprop and piston aircraft, automotive interior engine components and industrial tools. For the six months ended 6/29/02, sales fell 17% to $5.24 billion. Net income before acct. change and applicable to Common fell 32% to $162 million. Revenues reflect divestitures of Automotive Trim and soft sales across most segments. Earnings also reflect lower gross margins.