Hawker Beechcraft Still Bleeding Red Ink

 - November 1, 2011, 3:28 PM
Hawker Beechcraft today reported revenues of $518.8 million for the three months ending September 20, a decrease of $75.9 million from the year-ago period.

Hawker Beechcraft today reported revenues of $518.8 million for the three months ending September 20, a decrease of $75.9 million from the year-ago period. Third-quarter revenues at the company’s business and general aviation segment fell 15.9 percent, to $283.2 million, year-over-year, though operating losses decreased to $75.4 million, versus $124.5 million last year. The Wichita OEM reported 38 deliveries in the third quarter–including three Hawker 4000s, one 750, five 900XPs and 20 King Airs–compared with 49 deliveries in the same period last year. According to chairman and CEO Bill Boisture, supply disruptions affected Hawker 4000, King Air and piston aircraft production in the quarter, resulting in the fewer deliveries. However, he said, “We see that smoothing out and minimizing any remaining shortages [and] subsequent deliveries will show that disruption behind us.” And while it will be impossible to make up lost deliveries, he added, “We will be in better shape in the first quarter 2012.” As to the overall outlook, Boisture concluded, “We’re preparing for a 2012 that looks a lot like 2011, that looked a lot like 2010.”