Textron reports quarterly loss

MarketsReuters

Jan 31 (Reuters) - Textron Inc on Wednesday reported a fourth-quarter loss, compared with a profit a year earlier, hurt by charges related to changes in U.S. tax laws.

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The Cessna business jet maker reported a net loss of $106 million, or 40 cents per share, in the quarter ended Dec. 30, compared with a profit of $214 million, or 78 cents per share, a year earlier.

Textron recorded charges of $1.14 per share in the quarter related to restructuring and changes in the tax code.

Total revenue rose to $4.02 billion from $3.83 billion. (Reporting by Ankit Ajmera in Bengaluru; Editing by Maju Samuel)

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