Piper's Deliveries and Revenue Continue Upward Trend in Q2 2017
NEWS From Piper Aircraft Inc.
VERO BEACH, Fla., August 7, 2017 -- Piper Aircraft Inc. announced today its aircraft sales and delivery results for the second quarter of 2017, ending June 30. The company continued to grow its new aircraft deliveries and revenue with sales of turbine, M-Class products leading the company's performance success. Additionally, Piper trainer sales growth is being led by the proven Archer platform with sales backlog into Q3 2018.
The company posted quarterly revenue of $52.1M and deliveries of 32 aircraft. Compared to the company performance in 2016 through Q2, Piper Aircraft sales revenue has increased $10.7M year over year, which represents a 26% increase. Additionally Piper product deliveries have grown by 13 units, when compared to the same period in 2016, which is a 30% increase. Piper Archer deliveries continue to rise with more than three times the units delivered vs. 2016, registering a 228% increase.
"Our commitment to a common sense, made to order approach, has been a key differentiator and is contributing to Piper's success in this "new normal" market that we are all talking about. Our business model is made possible by our dedicated, experienced workforce, world class /full service Dealer Partners and a stable, long term focused ownership body." said President and CEO, Simon Caldecott. "As we look forward to the second half of the year, we anticipate continued strong performance across our product line with a strategic focus on both Europe and Latin America.
Simon Caldecott continued, "The addition of the class-leading M600 continues to drive revenue growth. Additionally the demo tour of Europe and Africa has resulted in better than expected sales, with five aircraft sold today and several more pending. Furthermore, Piper's offering of the only complete trainer product line is helping further augment sales and long-term commitments from some of the world's leading flight training programs."
About Piper Aircraft
Piper Aircraft Inc., headquartered in Vero Beach, Fla., offers aviators throughout the world efficient and reliable single- and twin-engine aircraft. The single-engine M-Class series - the M600, M500, M350, and Matrix - offers businesses and individuals elegant performance and value. The Twin Class Seneca and Seminole balance proven performance, efficiency, and simplicity in twin-engine aircraft. The Trainer Class Warrior, Archer TX, Archer DX, Arrow, Seminole, and Seneca aircraft form the most complete technically-advanced line of pilot training aircraft in the world. Unparalleled service and support is offered through a network of 38 dealers and nearly 100 service centers worldwide. All Piper airplanes feature advanced Garmin avionics in the cockpit. Piper is a member of the General Aviation Manufacturers Association.