Hawker Beechcraft 2010 Financials Show Drop

AINalerts » February 17, 2011
February 17, 2011, 10:12 AM

Hawker Beechcraft this morning reported net sales of $2.804 billion for the 12 months ending Dec. 31, 2010, a decrease of $393.8 million compared with 2009. The company attributed the decrease to “lower aircraft deliveries in the company’s business and general aviation segment as a result of depressed demand across the general aviation market.” For the year 2010, the company recorded an operating loss of $173.9 million, compared with an operating loss of $712 million in 2009. During 2010, the company delivered 238 business and general aviation aircraft compared with 309 in 2009. “The fact is that we delivered what we planned to deliver, matched production to the market demand, and executed accordingly,” said executive v-p Shawn Vick. As of the end of 2010, the total backlog for all Hawker Beechcraft airplanes, including government orders, was valued at $1.4 billion, compared with a backlog value of $1.9 billion as of Sept. 30, 2010.

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