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#1
January 30th 04, 10:10 PM
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Cessna profits plunge......OT (or is it?)
Revenue at Cessna plunged to $620 million from $896 million
in the year-ago quarter. Profit fell to $43 million from $94 million on lower sales of Citation business jets. Gee, there's a surprise. I sure hope you didn't have a bunch of money invested, cuz virtually anyone familiar with Cessna's product-line predicted a severe downturn. After all, other than jets, all they have to offer is a bunch of 50 year-old designs, albeit with new electronics in 'em. And with used jets virtually a dime a dozen now in "Executive Controller," who's going to buy a new one? Cessna put all their eggs in one basket -- the jet market. When that fell apart, they had little to fall back on. Meanwhile, Cirrus churns out three new airplanes a day, every day... The market is efficient, but ruthless... -- Jay Honeck Iowa City, IA Pathfinder N56993 www.AlexisParkInn.com "Your Aviation Destination" 
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