Wed, Feb 19, 2014
CEO Caldecott: Company Met Financial And Production Forecasts
Piper Aircraft achieved double-digit growth in new aircraft revenue and new airplane deliveries for 2013 in a challenging global market for aircraft sales, the company said Tuesday. The growth was led by increases in the sales of piston-powered training aircraft. Piper ended 2013 with a 13 percent increase in revenue from new aircraft sales of $168,776,759, compared to $148,968,967 in 2012, the second consecutive year of 13 percent revenue growth. The revenue increase was a result of a nearly 19 percent boost in new aircraft deliveries for 2013 - up 30 airplanes to 188, compared to 158 in the previous year. Piston-powered aircraft deliveries increased 22 percent to 154 aircraft in 2013 from 126 aircraft in 2012, reflecting increased trainer aircraft sales.
"Overall, Piper continued to meet delivery and financial projections for the year, despite economic challenges in many countries," said Piper President and CEO Simon Caldecott (pictured) in a news release. "The economics of our single-engine aircraft and our line of sophisticated and proven training aircraft is compelling to many aviators and pilot training institutions around the world.
"Our performance substantiates Piper's recommitment to the global pilot training market. This next year will continue to present economic challenges and consequently we expect a similar pace of deliveries matched to market performance," he added.
In addition to growing the sales of pilot training aircraft in the year just ended, Piper broadened its global footprint through the addition of international dealers, and completed transformation of its entire aircraft product line to upgraded advanced Garmin avionics.
Piper's 10 domestic dealers registered strong sales of Piper M-Class and Seneca V aircraft. The first Senecas with upgraded Garmin G1000 avionics were delivered in the United States. Piper's 23 international dealers and representatives recorded new market activity in 2013 with sales into Panama, Russia, China and Japan. Piper intends to further expand sales and service of Piper products throughout the world.
Fourth quarter revenue in 2013 was $54,785,284, compared to $42,090,089 a year ago, a 30 percent increase reflecting increased deliveries of 61 aircraft compared to 42 in 4Q 2012.
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