E-Z-GO 2013 Annual Report Download - page 8

Cessna
Cessna | 6
Performance
Highlights
While Cessna revenues for 2013 were disappointing, we
began to see our aggressive investments in new products
have a positive impact in the fourth quarter—with revenues
nearly doubling over the prior quarter and rising slightly
higher than the same quarter last year. For the year, Cessna
reported $2.8 billion in revenues.
During the course of the year, we certifi ed and began delivering
three new aircraft models. In March, the fi rst Citation
Sovereign+ production unit rolled off the manufacturing line
and, in December, customers began taking deliveries of this
aircraft which features winglets, a new cabin design and state-of-the-
art cockpit. These new features result in extended range, improved
passenger comfort and reduced pilot workload. Also in March, the
Citation M2 made its fi rst fl ight and, by year-end, customers started
taking deliveries of this aircraft that redefi nes performance and
capability in this product segment. In July, less than a year after the
Cessna TTx moved into production, the aircraft saw its fi rst customer
delivery—as the world’s fastest, commercially produced fi xed-gear,
single-engine piston aircraft.
In 2013, we also redefi ned Cessna aircraft servicing. In new Citation
models, we introduced next-generation diagnostic equipment to alert
the owner, pilot and Citation Service Center of record at the fi rst
sign of a problem—helping to hasten operator preparedness and
aircraft return-to-service. To reduce operating costs for mid-size jet
customers, we introduced the Citation Sovereign Shield program;
the program covers all scheduled service for the jet’s fi rst fi ve
years or 1,500 fl ight hours. As further proof of Cessna’s service
delivery commitment, Cessna Mobile Service Units reached a major
milestone, surpassing 10,000 service visits.
During the year, we also continued to strengthen our international
foothold. Just a year after announcing our joint venture with the
Aviation Industry Corporation of China and the China Aviation Industry
General Aircraft Company, we completed facility construction,
installed tooling and equipment, and placed management teams in
our Shijiazhuang location. In terms of Asia-Pacifi c sales in 2013, we
received the fi rst Chinese order for Citation Mustangs to be used for
charter services; delivered the fi rst Citation Mustang destined for
service in India; and announced the Russian purchase of 79 Cessna
172 Skyhawk aircraft—one of the aircraft’s largest orders on record.
Moving forward, Cessna enters 2014 having won two category titles
in the annual Robb Report “Best of the Best” competition and hit
major production milestones for its next generation of new products
in the queue—in particular, the Citation X+, the Citation Latitude,
and new models that bring jet fuel technology to the propeller
market. With continued excellent delivery times, unmatched product
performance, increased marketing and sales activity, service center
expansion, and unwavering commitment to new product investments,
Cessna is well positioned to remain at the forefront of the general
aviation market.
New Product and Service Network Investments
Position Cessna for Growth
(In millions) 2013 2012 2011
Segment Revenues $2,784 $ 3,111 $ 2,990
Segment Profi t (Loss) $(48) $82 $ 60
Performa