E-Z-GO 2011 Annual Report Download - page 7

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The ingenuity that founded Cessna Aircraft in 1927 is alive
and well—it was demonstrated throughout 2011 with forward-
thinking ideas to strengthen the brand. For example, Cessna
announced two game-changing business jets in 2011, both
shaped by extensive customer input. The Citation M2 was
introduced as a light business jet positioned between the
smaller Mustang and the larger Citation CJ family. Just
weeks after the M2 announcement, the Citation Latitude
was unveiled as a spacious new mid-sized jet. The Latitude
will be the widest Citation in the sky, accommodating up to
eight passengers in a six-foot tall, flat floor cabin.
These innovations create a pipeline for future growth, just
as Cessna’s past investments in R&D helped win additional
customers in 2011. The Citation CJ4 which debuted in 2008
became Cessna’s top-selling business jet for 2011. Also during
the year, the Citation TEN mid-sized jet entered its final stages
of pre-production with initial customer deliveries targeted for
2013. The Citation TEN will share the air with some 6,100
Citations that have been sold worldwide, continuing Citation’s
legacy as the industry’s best-selling line of business jets.
The power of the Citation brand is clearly reflected in 2011’s
sales activity. Cessna delivered 183 Citations during the year,
up from 179 in the previous year. In total, Cessna revenues
climbed to nearly $3 billion for the year—a $427 million
improvement over 2010 results.
As the market leader, Cessna continually invests in breakthrough
concepts. In 2011, a noteworthy example of this was the new
Clairity™ cabin technology system. Customers purchasing the
latest Citation models will enjoy a “smart” airplane equipped
with an intelligent cabin technology solution, giving passengers
unprecedented touch-screen access to networks, entertainment,
lighting and climate controls. Another industry-first was the
2011 launch of the high-performance Cessna Corvalis TTX—
packed with technologies like the first touch-screen-controlled
glass flight deck ever designed for piston aircraft.
Beyond developing greater aircraft performance and comfort,
Cessna worked throughout 2011 to creatively develop sales
opportunities in new markets. An illustration of this is 2011’s
$88.5 million foreign military sales contract with Afghanistan,
which calls for 30 propeller aircraft plus an array of services,
support and training devices.
Other achievements for the year included a major expansion of
Cessna’s sales team and the continuing growth of its customer
service network. The company began construction of its latest
European Citation Service Center in Valencia, Spain. With a high
concentration of Citation business jets flying in Europe, Valencia
will complement Cessna’s Paris and Prague service centers,
along with similar facilities planned for the future.
Looking to 2012, Cessna is positioned for growth—with the
deepest product line in the industry, backed by the world’s
largest business aviation support network.
CESSNA LED THE WAY WITH GAME-CHANGING
NEW AIRCRAFT AND SERVICES.
CESSNA
6
PERFORMANCE HIGHLIGHTS
(In millions) 2011 2010 2009
Segment Revenues $2,990 $2,563 $3,320
Segment Profit (Loss)*$60 $(29) $198
REVENUES BY REGION
2011
2011
70% United
States 2% Africa
11% Europe 1% Canada
11% Latin Am.
& Mexico 1% Middle
East
4% Asia
Pacific
* In 2009, segment profit includes a $50 million pre-tax gain on
the sale of the assets of CESCOM, Cessna’s aircraft maintenance
tracking service line.