Textron shares are up after company says worst is over

04/23/2010 | Reuters

Shares of Textron rose Thursday on the company's earnings report. The maker of EZ-Go golf carts had a first-quarter net loss of $8 million, or 3 cents a share, compared with a profit of $86 million, or 35 cents, a year earlier. The company took charges in the quarter related to restructuring and the recent U.S. health care reform law. Otherwise, Textron would have earned 5 cents per share, topping analysts' estimates of a loss of 3 cents. The company expects profits to fall 18% to 50% in 2010 but says the worst is over.

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