Gulfstream Aerospace “is the primary growth engine for both earnings and revenue” at General Dynamics, parent company chairman and CEO Phebe Novakovic said yesterday during a fourth-quarter investor call. The company’s aerospace unit, which includes Gulfstream and Jet Aviation, had a “very good year” in 2013, she added.
Gulfstream Aerospace plans to boost its aircraft service and support organization by building a new worldwide product support distribution center near its Savannah, Ga. headquarters, the company announced today. The new building is expected to be completed early next year and will consolidate the company’s worldwide material distribution departments. When completed, it will house more than $900 million in parts and materials inventory.
Gulfstream Aerospace and Jet Aviation parent company General Dynamics announced on Friday that it is promoting Robert Smith to president of Jet Aviation. He will report to Joe Lombardo, executive vice president of General Dynamics’ aerospace group. Smith succeeds Daniel Clare, who is being tapped as the CFO of Gulfstream. Both appointments are effective January 1.
Gulfstream Aerospace’s deliveries of completed aircraft more than doubled to 38 (32 large-cabin and six midsize jets) in the third quarter versus 17 large-cabin jets in the same period a year ago, parent company General Dynamics said during its quarterly investor conference call yesterday morning. In the first nine months, Gulfstream (Booth No. N3932) has shipped 103 outfitted airplanes (87 large cabin, 16 midsize), a nearly 81-percent rise from the 57 aircraft (52 large cabin, five midsize) handed over to customers in the same period last year.
Gulfstream Aerospace’s deliveries of completed aircraft more than doubled to 38 aircraft (32 large-cabin and six midsize jets) in the third quarter versus 17 large-cabin jets in the same period a year ago, parent company General Dynamics said during its quarterly investor conference call this morning. In the first nine months, Gulfstream shipped 103 outfitted airplanes (87 large cabin, 16 midsize), a nearly 81-percent rise from the 57 aircraft (52 large cabin, five midsize) handed over to customers in the same period last year.
Revenues at General Dynamics’ aerospace division, which includes Gulfstream Aerospace and Jet Aviation, soared to nearly $1.78 billion in the first quarter, a $155 million increase from a year ago, according to financial results the company released yesterday. Segment profit in the quarter also climbed by $39 million, or 14.4 percent, to $310 million, thanks in large part to Gulfstream, though General Dynamics chairman and CEO Phebe Novakovic said Jet Aviation “made a contribution in the quarter.”
The super-midsize Gulfstream G280 recently set 15 new city-pair speed records as part of the company’s reliability demonstration program, the Savannah, Ga.-based aircraft manufacturer announced today. To date, the G280 has established 22 speed records since setting its first in May.
Revenues at General Dynamics’ aerospace division, which includes Gulfstream Aerospace and Jet Aviation, soared to $6.91 billion last year, up more than $900 million from 2011, thanks in large part to Gulfstream. Profits at the division climbed by $129 million to $858 million. During an investor conference call yesterday, General Dynamics chairman and CEO Phebe Novakovic forecast that the division will see 16-percent sales growth this year.
The supersonic business jet development program continues at Gulfstream Aerospace, but until the FAA decides to define “quiet” as it relates to the so-called sonic boom, “We just don’t see a business case,” said a spokesman.
In a series of patent filings last summer, Gulfstream emphasized mitigating the noise produced by the sonic boom, pointing out that regulations currently prohibit supersonic flight over populated areas.
Lockheed Martin, the largest U.S. government contractor with $46 billion in annual sales, appointed its first female chief executive on November 9 after CEO-in-waiting Christopher Kubasik resigned over a “close personal relationship with a subordinate employee,” the company announced. The Bethesda, Md.-based company named Marillyn Hewson, 58, to take over as president and CEO on January 1, succeeding outgoing CEO Robert Stevens.
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