Business

Hawker Beechcraft reports lower sales, operating loss

Hawker Beechcraft recorded net sales for the second quarter of $639.3 million, down $177.0 million from a year ago.

The decrease was largely due to lower aircraft deliveries in its business and general aviation products from a depressed general aviation market.

The company delivered 54 business and general aviation aircraft, down from 78 in the same period a year ago.

The company also recorded an operating loss of $20.7 million in the quarter, compared with operating income of $39.4 million in the same time a year ago.

The company's backlog totaled $2.4 billion at the end of the quarter, compared to $3.1 billion in March.

The backlog reflects the impact of a cancellation notice from fractional ownership provider NetJets, which cut backlogs about $400 million. As a result, the company no longer has a backlog of orders from NetJets.

None of the canceled orders were scheduled for delivery this year, and one was scheduled for delivery in 2011.

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