Hawker Beechcraft Sales Soar in Q1

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As the Hawker Beechcraft Acquisition Company moves toward ownership of the forthcoming Hawker Beechcraft, the company has reported net first quarter sales of $667.8 million -- up 32.3 percent over the same period last year. Along with that, the company reported an increase to $28.4 million from $10.1 million in first-quarter operating income, an increase it attributes to deliveries and "a favorable product mix." Cash used in investing activities increased from $8.7 million in Q1 2006 to $27.3 million this year. "Expenditures relate to capital expenditures consisting of company-manufactured tooling, expansion of manufacturing facilities and modernizing equipment and software additions," the company said. Commenting on the company's health in transition, Chairman and CEO Jim Schuster added, "Our performance in the first quarter was strong and positions us well as we transition to new ownership as Hawker Beechcraft."