Tue, Sep 09, 2003
July's Booking: Record Revenues
Mooney's on its way
back: Mooney had a net income of $85,909.00 in July 2003. The
company reported net sales of $2,616,566.00 and an 18% gross margin
of $475,420. Company President J. Nelson Happy remarked, "This is
the first month since we acquired the Mooney assets that the
operating subsidiary has been profitable."
Sam Rothman, Chairman of Mooney Aerospace Group, Ltd.,
commented, "We are very pleased with the financial performance of
Mooney Airplane Company in July. Achieving a gross margin of 18% is
in line with our business plan, and although we anticipate monthly
variations in financial performance, these results prove that the
company can make money."
Robert Collier, Director of Operations, observed, "We completed
and delivered five new Ovation 2 DX and one new Bravo DX in July.
We now project that the assembly line will be able to establish a
consistent construction output of six airplanes per month starting
in September."
September is Sold Out,
Too
Mr. Happy (right) also commented, "All of our production is
sold for September and we are beginning to see strong order flow
for October deliveries. As a result of the new accelerated
depreciation rules adopted by Congress this year, along with
excellent efforts by our Mooney sales and marketing team, we expect
that Mooney will be able to book orders for all of our remaining
2003 production capacity."
Nicolas Chabbert, Mooney's Executive Vice-President of Sales and
Marketing stated: "We have just completed our photo shoot
highlighting our newly designed paint scheme. We will soon print
new literature illustrating all Ovation2, Ovation2 DX and Bravo DX
designs to assist our sales efforts. Also, we have had a lot of
favorable recognition in the press, such as Private Pilot's report
in its October 2003 issue, which also helps sales."
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