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Q3 earnings up again for Piper

  1. Piper 3rd Quarter Revenue, Deliveries Up Again


    During the third quarter of 2012, Piper Aircraft’s new aircraft revenue and deliveries continued to increase. Piper’s initiative to level-load factory production is reflected in the company’s steady delivery pace for the first three quarters of 2012. Revenue from new aircraft sales through the end of the 2012 third quarter grew to $106.9 million, compared with $92.5 million during the same period in 2011, an increase of more than 15 percent.

    During the third quarter, Piper delivered 40 aircraft and received $37.9 million in revenue. That compares with 34 aircraft and $35.2 million in revenue during the same period a year ago, up six deliveries and more than 7.5 percent in revenue. “We decided in the middle of this past year to level-load our aircraft production, and we are seeing the positive results of that effort so far in 2012,” said Piper President and CEO Simon Caldecott. “We delivered 37 planes in the first quarter, 39 in the second, and 40 airplanes in this quarter and expect a similar number in the fourth quarter.”

    “The production is nicely planned out, matches our sales, and stabilizes our manpower loading. It also helps our suppliers meet their requirements because we do not have large spikes in material demand,” Caldecott said. “Clearly, it helps the business, and our dealers and fleet customers have excellent visibility on their aircraft deliveries.”

    During the first three quarters of the year, Piper delivered 69 top-of-the-line M-Class single-engine cabin class aircraft, up more than 16 percent from 59 in the similar period a year ago. Overall, Piper delivered 116 aircraft through the first three quarters of the year, up nearly 25 percent from the 93 total delivered in the first three quarters in 2011. The total earnings for Q3 to date is $106,878,878 from 116 aircraft deliveries.

    For more information:

    Piper Aircraft, Inc.
    2926 Piper Drive
    Vero Beach, Florida 32960
    www.piper.com

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