Piper Records Double-Digit Increases In 2013 Revenue and Deliveries

VERO BEACH, Fla., Feb. 18, 2014 -- Piper Aircraft Inc. achieved double-digit growth in new aircraft revenue and new airplane deliveries for 2013 in a challenging global market for aircraft sales.   The growth was led by increases in the sales of piston-powered training aircraft. Piper ended 2013 with a 13 percent increase in revenue from new aircraft sales of $168,776,759, compared to $148,968,967 in 2012, the second consecutive year of 13 percent revenue growth.   The revenue increase was a result of a nearly 19 percent boost in new aircraft deliveries for 2013 - up 30 airplanes to 188, compared to 158  in the previous year. Piston-powered aircraft deliveries increased 22 percent to 154 aircraft in 2013 from 126 aircraft in 2012, reflecting increased trainer aircraft sales.

CEO Caldecott: Met Financial and Production Forecasts

"Overall, Piper continued to meet delivery and financial projections for the year, despite economic challenges in many countries," said Piper President and CEO Simon Caldecott. "The economics of our single-engine aircraft and our line of sophisticated and proven training aircraft is compelling to many aviators and pilot training institutions around the world."

"Our performance substantiates Piper's recommitment to the global pilot training market. This next year will continue to present economic challenges and consequently we expect a similar pace of deliveries matched to market performance," he added.

In addition to growing the sales of pilot training aircraft in the year just ended, Piper broadened its global footprint through the addition of international dealers, and completed transformation of its entire aircraft product line to upgraded advanced Garmin avionics.

New Activity in Panama, Russia, China and Japan

Piper's 10 domestic dealers registered strong sales of Piper M-Class and Seneca V aircraft. The first Senecas with upgraded Garmin G1000 avionics were delivered in the United States. Piper's 23 international dealers and representatives recorded new market activity in 2013 with sales into Panama, Russia, China and Japan. Piper intends to further expand sales and service of Piper products throughout the world.

Fourth quarter revenue in 2013 was $54,785,284, compared to $42,090,089 a year ago, a 30 percent increase reflecting increased deliveries of 61 aircraft compared to 42 in 4Q 2012.

2013 Piper Deliveries and Revenue

Model

Q1

Q2

Q3

Q4

2013 YTD

Warrior / Archer /

 Arrow

0

23

11

17

51

Seminole

4

6

8

5

23

Seneca V

1

6

2

13

22

Mirage

12

12

9

9

42

Matrix

4

4

3

5

16

Meridian

6

8

8

12

34

Total Units

27

59

41

61

188

Total Billings

 $29,723,271

 $47,095,306

 $37,172,898

 $54,785,284

$168,776,759

About Piper Aircraft

Piper Aircraft Inc., headquartered in Vero Beach, Fla., offers aviators throughout the world efficient and reliable single-engine and twin-engine aircraft. The single-engine M-Class series - the Meridian, Mirage and Matrix - offer businesses and individuals elegant performance and value. The Twin Class Seneca V and Seminole balance proven performance, efficiency and simplicity in twin-engine aircraft. The Trainer Class Archer TX, Arrow, Seminole and Seneca V aircraft form the most complete technically-advanced line of pilot training aircraft in the world. All Piper airplanes feature advanced Garmin avionics in the cockpit. Piper is a member of the General Aviation Manufacturers Association.

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