Cessna Aircraft’s parent company, Textron, reported a loss of $19 million for the 2011 fourth quarter on revenue of $3.25 billion.
That compares to a profit of $60 million on $3.13 billion for the same time a year ago.
The report records an adjustment for golf mortgage receivables and a charge for organizational streamlining at Textron Systems.
At Cessna Aircraft, revenue increased $51 million to $1.01 billion in the quarter, reflecting the delivery of 67 Citation jets in the quarter, compared with 79 the same time a year ago. The company delivered a higher volume of used jets, single engine aircraft and Caravans.
Its profit increased $37 million to $60 million in the quarter. That’s primarily due to favorable performance, higher non-jet volume and a beneficial mix of jets, the company said.
Cessna’s backlog at the end of the quarter totaled $1.9 billion., down $275 million from the end of the third quarter in 2011.