Textron reported Q4/14 net income of $212 million, was up 27% from $167 million for the same quarter a year earlier. Full year net income of $600 million, was up from $498 million or 20.4%.

Textron said its Textron Aviation business revenue and segment profit for the full-year 2014 was $4.57 billion and $234 million, respectively, up 64% from $2.78 billion and a segment net loss of $48 million.

Revenues at Textron Aviation in Q4/14 were up $597 million, primarily reflecting the impact of the Beechcraft acquisition, higher volumes and favorable mix. Textron Aviation delivered 55 new jets in the quarter, down from 62 jets in last year’s fourth quarter, and 41 King Air turboprops.

Textron Aviation recorded a segment profit of $130 million in the fourth quarter compared to $33 million a year ago in our Cessna segment. The increase reflects improved performance, including the impact of the Beechcraft acquisition, and favorable volume, mix and pricing.

Textron Aviation backlog at the end of the fourth quarter was $1.4 billion, approximately flat with the end of the third quarter.

To view the full Textron news release, click here.