Hawker Beechcraft reports 2009 losses

Hawker Beechcraft today reported sales of $3.2 billion and an operating loss of $712.0 million for the 12 months ended Dec. 31, 2009, compared to sales of $3.5 billion and an operating income of $140.3 million for the same period in 2008.
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In addition to lower sales, the Company’s 2009 operating income was impacted by significant non-cash impairment and other charges totaling $726.4 million recorded during the third quarter 2009. Despite the lower operating income, cash flow from operations for 2009 was $177.1 million compared to cash consumed in operations of $69.0 million in 2008.
 
2009 sales were affected by lower volume in the Company’s Business & General Aviation (B&GA) segment as a result of weakness in the general aviation market throughout the year. B&GA sales for 2009 were $2.3 billion, compared to $2.8 billion in 2008. The Company delivered 309 business and general aviation aircraft during 2009, consisting of 98 jet, 155 turboprop and 56 piston aircraft. This compares to 441 deliveries during 2008.

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