General Dynamics’ aerospace segment, which includes Gulfstream, saw its third-quarter earnings rise 37 percent, to $226 million, while sales climbed 21 percent, to $1.31 billion. International sales are rising and accounted for 53 percent of Gulfstream’s orders in the three-month period, a trend evident throughout the industry.
General Dynamics said yesterday that its third-quarter earnings rose 25 percent thanks to demand for its Gulfstream business jets and healthy combat systems growth. The company’s aerospace segment, which includes Gulfstream, saw its earnings rise 37 percent, to $226 million, while sales climbed 21 percent, to $1.31 billion.
The surprise departure last month of Bill Boisture from Gulfstream after 10 years as its president and the naming of vice chairman Bryan Moss as his replacement tops a list of several major revelations over the last few months by the Savannah, Ga.-based manufacturer.
Gulfstream Aerospace has awarded FlightSafety International a five-year contract to perform maintenance technician training at its Savannah, Ga. factory. The contract also includes training for all other Gulfstream
After a flurry of interest late in the last decade that appeared to lose momentum in the wake of 9/11, there is evidence that progress toward defining a supersonic business jet continues quietly.
Since parent company General Dynamics acquired Galaxy Aerospace last year, Gulfstream has been on a program to improve the performance of the Gulfstream 200 (nee Galaxy) to meet a request by NetJets that it be able to fly London to New York in 85-percent winds with four passengers at Mach 0.75.
“Ken Emerick, chairman of NBAA board of directors, caught me at the airport, on my way to Saudi Arabia to meet with King Abdullah, to tell me I had been selected to receive the NBAA Award for Meritorious Service to Aviation,” Gulfstream president emeritus Bryan Moss told NBAA Convention News. “The award was a complete and total surprise,” said Moss, who was named president emeritus in April.
General Dynamics’ aerospace division, which includes Gulfstream and its support cousin, General Dynamics Aviation Services, had $1.2 billion in sales in the second quarter, up more than 13 percent from the same time a year ago. Earnings increased 20 percent, to $200 million. The 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.
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.
Recent news reports that Gulfstream plans to build a prototype supersonic business jet (SSBJ) by 2013 are inaccurate, according to a company spokesman. “We’re still doing basic research on sonic boom suppression,” he said.