Textron swings to loss; adjusted net exceeds views

NEW YORK (MarketWatch) -- Textron Inc., the Providence, R.I., aerospace major, swung to a fourth-quarter loss, reflecting a number of special items, on 4.1% higher revenue. The net loss was $19 million, or 7 cents a share, compared with net income of $60 million, or 19 cents, in the year-earlier period. The latest period's adjusted earnings were 49 cents a share, with the special items netting to a charge of 55 cents. The loss from continuing operations was 6 cents a share versus a year-earlier profit of 20 cents. Revenue reached $3.25 billion from $3.13 billion. A survey of analysts by FactSet Research produced consensus estimates of 34 cents a share of profit on $3.27 billion of revenue. Textron issued an initial full-year 2012 earnings estimate of $1.80 to $2 a share; FactSet's survey is looking for $1.66.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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