Positive Trend Follows Pattern Set The Previous Two Years

Piper Aircraft Inc. grew its new aircraft deliveries and sales revenue during the first quarter of 2012, ended March 31. First quarter 2012 performance continued a positive trend set in the first quarters of 2010 and 2011 when Piper significantly increased new aircraft market share in a declining overall market.

Airplane deliveries increased more than 40 percent to 37 aircraft in the first quarter of 2012, from 26 airplanes during the first quarter of 2011. New aircraft sales revenue grew more than 20 percent to $31,578,203, when compared to sales of $26,159,703 during the same period the previous year. "Piper's performance in the first quarter of 2012 gives us a good start on the year. It also continues an upward trend in first quarter results for the past three years," said Piper President and CEO Simon Caldecott (pictured).
 
"In the first quarter of 2012 Piper's international aircraft deliveries continued to outpace those in the United States and that, again, reinforces the success of our strong globalization strategy," he said. "Thus far this year in Europe, for example, our delivery and order-taking performance for M-Class business airplanes and also our smaller aircraft is far outstripping our sales projections for that part of the world, and we are pleased with that."
 
During the quarter just ended, Piper delivered 21 airplanes internationally and 16 within the United States. Six of the 37 total deliveries were for the company's flagship Piper Meridian single-engine M-Class turboprop, while the company delivered 12 Piper Mirages, the popular single-engine pressurized piston-powered M-Class business aircraft.

FMI: www.piper.com