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Sales, Operating Profits Tumble At Textron

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Weighed down by reduced demand for business jets and a loss at its finance unit, Textron [TXT] yesterday posted a steep decline in operating profits amid a decline in sales, although the multi-industrial firm still eked out a net profit in its third quarter. Textron posted net income of $4 million, one cent earnings per share (EPS), compared to $206 million (83 cents EPS) a year ago. Earnings from continuing operations were $6 million (2 cents EPS), which beat analysts…

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