Textron Inc.’s profit dipped 8.5% to $234.4...

Textron Inc.’s profit dipped 8.5% to $234.4 million in 1988. Revenue rose to $7.3 billion from $7.2 billion. The Providence, R.I., conglomerate, whose businesses include aerospace technology, commercial products and financial services, noted that the results included a $37.7-million after-tax loss. stemming from a $28-million adverse arbitration ruling involving a former insurance subsidiary of Avco Financial Services insurance business and from a $9.7-million loss because of the early redemption of high-interest debt.