Q1 2018 Sees Deliveries; Revenue Rise For Piper The first quarter ending March 31, 2018 proved to be good for Piper Aircraft. In a press release today, the company announced that new aircraft deliveries and revenue are up thanks in part to the flagship M600 turboprop. Also, trainer sales are up led by the Archer program. Piper says, the backlog for this platform leads into the third quarter of 2019. First quarter 2018 performance showed a positive trend on the heels of a 27% growth in billings for 2017. Airplane deliveries increased more than 36% to 34 aircraft in the first quarter of 2018, up from 25 airplanes during the first quarter of 2017. New aircraft sales revenue grew more than 77% to $41,379,227, when compared to sales of $23,383,514 during the same period the previous year. The growth in revenue reflects strong demand for M-class products with the M600 sales expanding by more than 100%.
"Our first quarter performance is a strong indicator of the demand for all Piper products across the board and continues the consistent growth in sales that we began to experience in 2016," said Piper President and CEO Simon Caldecott. Our sales success is made possible by our dedicated, experienced workforce, world class/full service Dealer Partners and a stable, long term focused ownership body." With a start like this to the new year, the rest of the year appears optimistic for Piper Aircraft. For more information: Piper 2926 Piper Drive Vero Beach, FL 32960 www.piper.com ***
