WICHITA, Kan. , Nov. 4 /PRNewswire/ -- Hawker Beechcraft Acquisition Company, LLC (HBAC) reported lower sales and operating income during the three months ending Sept. 28, 2008 , as compared to the same period in 2007 primarily resulting from a four-week strike in August by the International Association of Machinists (IAM).
Net sales for the three months ending Sept. 28, 2008 , were
During the three months ending Sept. 28, 2008 , the Company recorded operating income of
Operating cash flow consumed during the nine months ending Sept. 28, 2008 , was
Net bookings for the three months ending Sept. 28, 2008 , totaled
"This was a difficult quarter as the reduced aircraft deliveries impacted our financial results significantly," said Jim Schuster , chairman and CEO of Hawker Beechcraft Corporation. "We are also closely monitoring global economic conditions to assess the impact on our industry. Going forward, we will be proactive in responding to the evolving economic realities while continuing to provide the industry's best products, services and support."
In response to the weakness in the global economy and overall economic outlook, HBC informed employees on Oct. 31, 2008 , that reductions in workforce would be required as adjustments are made to aircraft production rates. The change in aircraft production reflects anticipation of reduced demand for new aircraft, spares and maintenance services. The financial impact resulting from the planned reductions is not anticipated to be significant.
Financial and other information for the three months ending Sept. 28, 2008 , is available on the Company's Web site at www.hawkerbeechcraft.com. An earnings call will be held on Tuesday, Nov. 11, 2008 , at 9 a.m. CDT .
Earnings Conference Call:
HBAC's earnings results conference call for the three months ending Sept. 28, 2008 , will be held Tuesday, Nov. 11, 2008 , at 9 a.m. CST . To attend, register at https://cossprereg.btci.com/prereg/key.process?key=PUJRU46YP.
Once you register, you will be provided with dial-in numbers and pass codes needed to join the conference call. A recording of the earnings call will be posted to the Company's Web site on the afternoon of Nov. 11, 2008 , and will be available for 45 days.
Hawker Beechcraft Corporation is a world-leading manufacturer of business, special-mission and trainer aircraft - designing, marketing and supporting aviation products and services for businesses, governments and individuals worldwide. The company's headquarters and major facilities are located in Wichita, Kan. , with operations in Salina, Kan. ; Little Rock, Ark. ; Chester, England , U.K.; and Chihuahua, Mexico . The company leads the industry with the largest number of factory-owned service centers and a global network of more than 100 factory-owned and authorized service centers. For more information, visit www.hawkerbeechcraft.com.
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