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.
While Piper delivered more aircraft abroad than in the United States, Caldecott said domestic sales brought in more revenue, particularly because of the success of the Piper Meridian in the United States.
Piper's positive financial numbers come on the heels of news that the company is indefinitely suspending its much-anticipated PiperJet Altaire program, which was initially launched five years ago, due to the ongoing economic downturn.
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