July's Booking: Record Revenues

Mooney's on its way back: Mooney had a net income of $85,909.00 in July 2003. The company reported net sales of $2,616,566.00 and an 18% gross margin of $475,420. Company President J. Nelson Happy remarked, "This is the first month since we acquired the Mooney assets that the operating subsidiary has been profitable."

Sam Rothman, Chairman of Mooney Aerospace Group, Ltd., commented, "We are very pleased with the financial performance of Mooney Airplane Company in July. Achieving a gross margin of 18% is in line with our business plan, and although we anticipate monthly variations in financial performance, these results prove that the company can make money."

Robert Collier, Director of Operations, observed, "We completed and delivered five new Ovation 2 DX and one new Bravo DX in July. We now project that the assembly line will be able to establish a consistent construction output of six airplanes per month starting in September."

September is Sold Out, Too

Mr. Happy (right) also commented, "All of our production is sold for September and we are beginning to see strong order flow for October deliveries. As a result of the new accelerated depreciation rules adopted by Congress this year, along with excellent efforts by our Mooney sales and marketing team, we expect that Mooney will be able to book orders for all of our remaining 2003 production capacity."

Nicolas Chabbert, Mooney's Executive Vice-President of Sales and Marketing stated: "We have just completed our photo shoot highlighting our newly designed paint scheme. We will soon print new literature illustrating all Ovation2, Ovation2 DX and Bravo DX designs to assist our sales efforts. Also, we have had a lot of favorable recognition in the press, such as Private Pilot's report in its October 2003 issue, which also helps sales."

FMI: www.mooney.com