Piper Aircraft’s Deliveries, Revenue Up in Q3

Bethany Whitfield

Tuesday, November 08, 2011 at 08:35 PM ET

Verified

Key Takeaways:

Piper Aircraft reported improved delivery and revenue numbers for Q3 2011 compared to the previous year.
Revenue increased by over 25% to $35.3 million, and the company's backlog reached a four-year high.
While more aircraft were delivered internationally, domestic sales, particularly the Piper Meridian, generated more revenue.
Despite the positive financial performance, Piper indefinitely suspended its PiperJet Altaire program due to the ongoing economic downturn.

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Piper Aircraft on Monday reported better delivery and revenue numbers during the third quarter of 2011 than the company did one year ago, based in part on stronger Piper M-class aircraft deliveries.

The company’s revenue jumped more than 25 percent this year compared to 2010, rising from $28.1 million to $35.3 million. According to Piper president and CEO Simon Caldecott, the company’s backlog is also the strongest it has been in four years.