Story ID: 
Piper's Sales Swell in Second Quarter 2017
By: Kerry Lynch
Caption: M-Series turboprops are helping to drive double digit delivery and revenue gains.
Word Count: 230
Piper Aircraft is continuing to enjoy strong growth this year, with deliveries surging by 30 percent in the second quarter and sales by 26 percent. The company brought in $52.1 million in revenues in the quarter, up $10.7 million from the same period in 2016. Deliveries, meanwhile reached 32 aircraft in the quarter, up by 13 units from a year earlier. This follows a first quarter where new aircraft sales revenues jumped 60 percent and deliveries by 13 percent.

Piper pointed to growth in the sales of its turbine M-Class aircraft, as well as the stronger market for training airplanes, as the drivers in the improved performance. Its sales backlog for the Archer trainer extends into the third quarter of 2018, the company reported.

“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,” said Piper president and CEO Simon Caldecott.

Caldecott further credited the results this year to a “common sense, made-to-order approach” that the company has implemented as it adjusted to the “new normal” market. This success is anticipated to continue into the near future, he added. "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.”