Hawker Reports Q1 Sales Drop

Bethany Whitfield

Wednesday, May 04, 2011 at 06:51 PM ET

Verified

Mixed earnings reported by Hawker in
early 2011.

Key Takeaways:

Hawker Beechcraft reported mixed Q1 2011 earnings, with an increase in aircraft deliveries and backlog but a decrease in sales and operational income.
The financial declines were primarily attributed to the continuing weakness in the business and general aviation market, along with increased sales and marketing expenses for international expansion and costs associated with reduction initiatives.
Despite anticipated ongoing challenges from a soft market, the CEO expressed confidence in the company's sound business decisions and diversified product mix for the remainder of 2011.

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Hawker Beechcraft issued a mixed-bag earnings report on Monday, highlighting an increase in deliveries, but a decrease in sales and operational income sparked largely by the continuing underperformance of business and general aviation.

During January through March of this year, the company made a total of 45 deliveries, a significant increase from the 34 deliveries Hawker made over the same period in 2010. The company’s backlog has also increased in 2011, rising $122 million during the first quarter compared to the fourth quarter of 2010.