Trainer deal boosts revenue for Hawker
05/04/2010 12:02 AM
08/08/2014 9:57 AM
Hawker Beechcraft posted increased sales and lower operating losses in the first quarter of the year compared with a year ago as production increased in its military trainer market, company officials said Monday.
Revenue for the three months ending March 28 totaled $568.2 million, up $30.6 million from the same time a year ago.
Revenue from trainer aircraft rose $61.6 million from a year ago. That was due to higher production rates for trainers to meet Hawker Beechcraft's JPATS contract with the U.S. government and orders from international customers.
JPATS, the joint primary aircraft training system, is the contract awarded in 1996 to Raytheon Aircraft Co., now Hawker Beechcraft, by the U.S. Navy and Air Force for training aircraft.
A decline in general aviation revenue of $32.8 million — the result of continued depressed market demand — partially offset the increase.
Hawker Beechcraft delivered 34 general aviation aircraft in the first quarter, compared with 57 for the same time a year ago.
First-quarter operating losses totaled $25.1 million, down from a loss of $46.0 million.
The company's backlog totaled $3.1 billion on March 28, compared with $3.4 billion on Dec. 31.
The decrease was because net new orders taken were lower than deliveries in the quarter, the company said.