‘Robust Order Book’ Beefs Up Gulfstream Backlog

 - April 26, 2007, 10:36 AM

Revenue at Gulfstream Aerospace increased 18.7 percent in the first quarter of this year over the first quarter of last year, operating earnings grew 19.3 percent and backlog revenue increased 9.8 percent on the strength of a “very robust order book,” according to Nicholas Chabraja, chairman and CEO of parent company General Dynamics. Presenting first-quarter results to the financial community yesterday, Chabraja said Gulfstream plans to deliver 82 large aircraft this year (an increase of three from the outlook in the 2006 year-end report presented earlier this year). “Our production plan shows 83 large aircraft next year [one more than in the previous outlook],” he said. Gulfstream delivered 30 airplanes in the first quarter this year. Although that is five more than in the first quarter of last year, Chabraja said it was two less than planned. Entry into service for a large aircraft ordered today is well into 2010. That’s “longer than we would like it to be,” Chabraja said, “but we are doing the best we can to increase production in an efficient way.”