UPDATE: Textron Reports Q2 Net Income of $90M

Textron Inc TXT released its results for the second quarter on Wednesday. Textron's quarterly net income surged to $90 million, or $0.29 per share, from $82 million, or $0.27 per share, in the year-ago period. The company's revenue climbed 7% to $2.73 billion. Analysts were expecting earnings of $0.24 per share. Textron reiterated its 2011 earnings from continuing operations forecast of $1 to $1.15 per share, versus analysts' estimates of $1.12 per share. TXT shares gained 3.17% to close at $22.12 yesterday.