Textron reported that its global finance unit fourth quarter and full year revenues of $35 million and $215 million, respectively were up from $12 million and $103 million in the same periods one year-ago.

Finance segment profit in the fourth quarter and full year 2012 of $2 million and $64 million, respectively compared to losses of $232 million and $333 million in same year-ago periods. Textron noted that the 2011 fourth quarter loss of $232 million reflected a mark-to-market charge.

Textron reported that Cessna revenues decreased $110 million for the three months ended December 29, 2012, reflecting the delivery of 53 new Citation jets in the quarter, compared with 67 in last year’s fourth quarter. Segment profit decreased $37 million, primarily due to a $27.4 million arbitration settlement charge and lower jet volumes.

Cessna revenues and profit for the 12-month period ended December 29, 2012 were $3.1 billion and $82 million, respectively up from $3.0 billion
and $60 million for the same 2011 periods.

Cessna backlog at the end of the fourth quarter was $1.1 billion, down $267 million from the end of the third quarter 2012.

Commenting on Cessna’s results, Textron chairman and CEO, Scott C. Donnelly said, “In 2013, we anticipate growth in revenue at Cessna on a modest increase in jet deliveries, a higher revenue mix of business jets and growth in aftermarket.”

To read the Textron news release click here.