Moving now to second quarter results, starting with Slide #3. Revenues in the quarter were $3 billion, up 10.7% from a year ago. Our income from continuing operations was $0.58 per share, which compares to earnings per share of $0.29 in the second quarter of 2011.Moving to cash flow, second quarter manufacturing cash flow before pension contributions was $121 million. And from that, we contributed $21 million to our pension plans. With that, I'll turn the call over to Scott. Scott C. Donnelly Thanks, Doug, and good morning, everybody. Our second quarter performance reflects continued growth in our commercial aircraft and industrial markets and improved operating execution across our businesses. We also continue to secure a number of key program wins and made strategic product announcements in the quarter that should further contribute to growth long term. Starting with Textron Systems, our Marine & Land Systems business won the Canadian Tactical Armoured Patrol Vehicle program. This contract calls for delivery of 500 vehicles beginning in 2014 with an option for 100 more, as well as an initial 5-year support contract. This was an important win as it extends our production of armored vehicles through at least 2015. This win also establishes a new family of our proven Mine Resistant vehicles, and we can now market to other customers around the world. Our TMLS business also won the Navy Ship-to-Shore Connector competition, which starts with detail design and construction of a test and training craft to be completed by early 2017. The contract also provides options for deliveries of up to 8 initial production units through 2020. So the total value of this contract could amount to $570 million over the remainder of the decade, with even more significant opportunity when the program enters full rate production. And finally, at our Unmanned Aircraft Systems business, we recently received a $358 million award for engineering support and upgrades to retrofit 45 Shadow Systems with deliveries of these units beginning in late 2013.
So despite a difficult DoD environment, over the past several months, we've won several significant new programs that help solidify the long-term outlook and systems.Moving to our Finance segment. We had another successful quarter of liquidations as we reduced noncap to financial receivables by another $160 million, including a $70 million reduction in our Golf Mortgage portfolio, representing 19 loans. Our noncap to finance receivable portfolio now stands at $619 million. Shifting to our industrial business, operating performance was solid with revenues up 5%. Volumes in our Industrial businesses reflect strength in the North American and Asian auto markets offsetting European softness. Moving over to Cessna, we delivered 49 jets in the quarter, up from last year's 38, reflecting modest recovery and our success in the current market. We also had a number of strategic developments over the past several months at Cessna. First, we announced our new long-range super midsize Longitude business jet during the eBay show in Geneva. With a 4,000-nautical mile range and a speed of Mach .86, the Longitude will be designed to make nonstop flight between city pairs like New York and Paris; London to Dubai; or Beijing, Moscow. At a price of just under $26 million, we believe the Longitude will be the best valued 4,000-nautical miles super midsized business jet available in the world. We also continue to make good progress during the quarter with flight testing on our new Citation M2 and Citation Ten. Finally, our newly announced Latitude was selected by NetJets to become part of their fractional fleet offering, which should add significantly to the long-term demand for this aircraft. And to wrap up with Bell, on the military side, we delivered 9 V-22s and 6 H-1s versus 9 22s and 8 H-1s in last year's second quarter. We saw a significant increase in our commercial business with 47 units delivered in the second quarter, up to 25 from last year's 22 deliveries. This growth reflects the overall strength in global helicopter markets, as well as the ramp-up in our 429 program and the success of our new 407GX. Read the rest of this transcript for free on seekingalpha.com