Cirrus Reports Its Best Quarter Since 2008

Stephen Pope

Friday, February 24, 2012 at 10:21 PM ET

Verified

Cirrus SR22

Key Takeaways:

Cirrus Aircraft reported its strongest fourth quarter since 2008, delivering 89 aircraft (SR20s, SR22s, SR22Ts) and generating over $47 million in revenue.
For the full year 2011, Cirrus delivered 255 SR20s and SR22s worth over $150 million, achieving an all-time high 35% market share in single-engine piston aircraft.
The company's success was attributed to favorable U.S. depreciation rules, growth in institutional sales (flight schools, governments), and the appeal of their technologically advanced aircraft, with the SR22/SR22T family being the best-selling four-place airplane for 10 consecutive years.

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Cirrus Aircraft said it delivered more airplanes in the fourth quarter of 2011 than any since 2008, handing the Duluth, Minnesota, manufacturer its strongest performance of the last 12 quarters and reason for optimism heading into 2012.

“Several factors came together in the fourth quarter to make it one of the strongest in recent memory,” said Todd Simmons, executive vice president at Cirrus Aircraft. “It’s a source of pride to the Cirrus team in Duluth, Grand Forks and around the globe that with each successive quarter we are creating a stronger and more durable aircraft business.”