E-Z-GO 2008 Annual Report Download - page 5

States and expect to increase that number in 2009.
With more than 1,000 Citations in Europe, we are exploring
ways to introduce the mobile service units there as well.
While Cessna is clearly a cyclical business, it remains a
premier franchise in an attractive, relatively young industry,
with an extremely bright, long-term growth outlook. We expect
to see renewed global demand for business jets when the
current economic environment recovers, especially in under-
served markets such as Europe, Latin America, Asia-Pacifi c and
the Middle East. As the Chinese, Indian and Eastern European
economies expand, they also should provide substantial long-
term business jet growth opportunities.
Bell:
Ramping up military deliveries and moving the 429
closer to certifi cation
Bell Helicopter revenues rose 10 percent over the prior year to
$2.8 billion in 2008, with both military and commercial custom-
ers fueling demand. Signifi cant effi ciencies from improved
Lean manufacturing processes enabled Bell to increase output,
quality and operating margins. For example, in 2008 Bell
delivered 18 V-22s, up from 14 in 2007, and delivered 12 H-1s,
four of which were ahead of schedule.
The V-22 proved itself in combat in Iraq for the U.S. Marine
Corps and in a U.S. Air Force Special Operations Command
exercise in Africa. The world’s fi rst production tiltrotor, the V-22
combines a helicopter’s vertical performance with a fi xed-wing
turboprop range, altitude and high speed. Bell plans to deliver
159 V-22 units over the next fi ve years.
3
Here’s a snapshot of each of our core business segments:
Cessna:
Sizing for the present while looking to the future
Cessna achieved record revenues of $5.7 billion – up 13
percent over last year – with a record 467 jet deliveries during
2008. Other highlights include initial deliveries of the Citation
XLS+, initial fl ights of the Citation CJ4 and the single-
engine SkyCatcher, and the successful integration of the
new 350 Corvalis and 400 Corvalis TT single-engine piston
aircraft models.
Despite these achievements, the plummeting economy is
having an especially harsh impact on the business jet industry,
including Cessna. As such, we had to dramatically scale back
our original production and delivery plan for 2009.
Combined with operating initiatives, we expect Cessna to
maintain double-digit fi nancial performance in 2009, even
while we support crucial new product development projects,
such as the Citation CJ4 and Citation Columbus.
We’re on track to bring the CJ4 to market in 2010 and sustain
critical investments in the wide-cabin, long-range Columbus,
which we fi rst announced in January of 2008. The Columbus
continues to generate excitement among our customers and
should provide signifi cant revenue and profi t growth at Cessna
in the latter half of the next decade.
Service remains integral to Cessna’s success, and we continue
to fi nd ways to add value for customers. We’ve expanded the
mobile service unit program launched in 2007, which allows us
to perform maintenance on Cessna aircraft right in our custom-
ers’ own hangars. We currently have four units in the United
AS WE MAXIMIZE CASH FLOW IN OUR
OPERATIONS, WE CONTINUE TO
DEVELOP NEW PRODUCTS CRITICAL
FOR OUR FUTURE GROWTH.
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