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Wichita, Kan. (November 7, 2007) – Hawker Beechcraft Acquisition Company, LLC (HBC) reported third quarter 2007 operating income of $62.1 million. Total net bookings were $945.4 million, resulting in a backlog of $5.2 billion.
Sales for the third quarter 2007 were $871.0 million. HBC delivered 106 commercial and special mission aircraft, including eight of the recently certified Hawker 900XP, a derivative of the Hawker 850XP. This compares to 95 commercial and special mission aircraft delivered by the predecessor company during the third quarter of 2006.
Operating cash flow has been $196.4 million since the acquisition of the business on March 26, 2007, reflecting an increase in customer deposits, collection of financing receivables and a reduction in the level of used aircraft inventory. There has been some adverse impact to cash flow associated with the delay in the delivery of Premier IA and T-6A Texan II aircraft, due to issues relating to supplier compliance with parts specifications. Deliveries of the Premier resumed in October.
Financial and other information for the third quarter 2007 is available on the Company’s website at www.hawkerbeechcraft.com.
Hawker Beechcraft is the world’s leading business, special-mission and trainer aircraft manufacturer – designing, marketing and supporting aviation products and services for businesses, governments and individuals worldwide. The company’s headquarters and major facilities are located in Wichita, Kan., with operations in Salina, Kan.; Little Rock, Ark; and Chester, England, U.K. The company leads the industry with a global network of over 100 factory-owned and authorized service centers.
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