Gulfstream Has ’Best Quarter Ever Experienced’

AINalerts » July 26, 2007
July 26, 2007, 11:48 AM

Nicholas Chabraja, chairman and CEO of General Dynamics, the parent company of Gulfstream and its General Dynamics Aviation Services cousin, said yesterday that this year’s second quarter was “the best quarter from an intake perspective that Gulfstream has ever experienced.” The Savannah, Ga.-based OEM achieved $1.2 billion in sales in the second quarter, up more than 13 percent from the same time a year ago. Earnings were up even more, for a total of almost $200 million, or a 20-percent increase. According to Chabraja, 51 percent of the sales were international and “every geographical segment grew, but the Middle East, Africa and Latin America were the largest growers.” Gulfstream’s order backlog stood at more than $10 billion at the end of the quarter, a more than 40-percent increase from the second quarter of last year. The company delivered 72 airplanes in the second quarter, compared to 55 during the same period last year. Chabraja confirmed production would increase next year to keep up with demand.

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