General Dynamics yesterday reported first-quarter 2010 earnings from continuing operations of $599 million, up from $593 million for the same period in 2009, giving much of the credit to gains in the aerospace business segment, which consists of Gulfstream, Jet Aviation and General Dynamics Aviation Services. “It was a good first quarter,” said GD president and CEO Jay Johnson in an investor conference call.
Gulfstream Aerospace president Joe Lombardo started his career in aerospace at Douglas Aircraft in 1975, where he held leadership positions in production and material control, planning and manufacturing, and was general manager of twinjet production. He joined Gulfstream in 1996 as vice president of co-production, where he was responsible for the ramp-up and dual production of the Gulfstream IV-SP and V.
Brad Hatt resigned from his position as senior v-p of sales at Hawker Beechcraft. The Wichita airframer has announced several other changes to its executive management team. Richard Emery, most recently a v-p of sales at Gulfstream, has been appointed president of its Americas jet sales division.
The FAA and the European Aviation Safety Agency (EASA) last week certified the Gulfstream G150 for a steep-approach angle of up to six degrees versus the normal approach angles of 3.5 degrees or less. Several airports worldwide–including London City Airport–require steep-approach certification to land at their facilities due to terrain, obstacles or local noise ordinances.
In a conference call with analysts yesterday, General Dynamics president and CEO Jay Johnson summarized full-year and fourth-quarter results for the defense and aerospace manufacturing conglomerate. Overall, sales climbed 9.2 percent over 2008, to nearly $32 billion, “driven entirely by our defense businesses,” he said. This growth was offset by a 6.2-percent decline in aerospace revenue during 2009 versus 2008.
At a Bank of America/Merrill Lynch Global Industrial Conference last month, General Dynamics chief Jay Johnson said that his company’s aerospace division–namely Gulfstream and Jet Aviation–hit their troughs last year. He said the prospects for both companies this year are good, and he expects next year to be a strong growth year, especially for Gulfstream.
Gulfstream “held its own again in the third quarter” despite a planned five-week plant shutdown, Jay Johnson, the president and CEO of parent company General Dynamics, said yesterday during a third-quarter investor call. Due to the shutdown, Gulfstream delivered 14 green large-cabin jets in the quarter versus 24 a year ago; it also delivered only three green midsize jets in the three-month period compared with 16 last year.
Gulfstream “held its own again in the third quarter” despite a planned five-week plant shutdown, according to Jay Johnson, president and CEO of parent company General Dynamics. Due to the shutdown, Gulfstream delivered 14 green large-cabin jets in the quarter versus 24 a year ago; it also delivered only three green midsize jets in the three-month period compared with 16 last year.
Gulfstream isn’t shy about saying that the new wide-cabin G650 will not forever be the upper echelon of the Savannah, Ga.-based company’s aircraft line. “We are already working on product development beyond the G250 and G650; that’s not the end of the line,” Jay Johnson, president and CEO of Gulfstream parent General Dynamics, said last month. Recent U.S.
Joe Lombardo became president of Gulfstream Aerospace on April 9, 2007. He also serves as executive vice president of the General Dynamics aerospace group and was Gulfstream’s chief operating officer before becoming president. Before joining Gulfstream in 1996 as vice president of co-production, he served in leadership roles at Douglas Aircraft.