Quarterly Sales Up 162-Percent

Mooney Airplane Company Monday posted sales of $9,385,000 for the first quarter of 2005, representing an increase of 162-percent as compared to sales of $3,582,000 reported in the first quarter of 2004.

During the three months ended March 31, 2005, Mooney sold 20 airplanes, compared to the sale of 7 airplanes for the three months ended March 31, 2004.

"The enhancement and aggressive implementation of our marketing program, coupled with the outstanding response to our nationwide Freedom Tour, have produced record-breaking results for Mooney in the first quarter of 2005," said J. Nelson Happy, Vice Chairman and President of Mooney Aerospace Group.

"These results are a testament to the success of our restructuring program initiated in mid-2004," he continued.

"With strong top-line growth, reduced per unit costs and the build up of a superior, competitive after-market customer support division, we expect continued improvements in gross margin and the continued reductions in net operating loss before interest and taxes in 2005, putting the Company on track to reach its goal of becoming profitable."

FMI: www.mooney.com