Gulfstream, the aviation division of parent company, General Dynamics, suffered a 9% decline in revenues in the second quarter of 2018 recently, although the company stated that this is in with the company’s positive outlook.
General Dynamics suffered a 9% slip in revenues in its Q2 report, the company had recorded a higher percentage decline in earnings of over 10%.
It is believed that a delay in deliveries of the Gulfstream jets is responsible for the percentage loss.
Overall, General Dynamics posted $9.2bn in revenues, a 19.7% increase on the same quarter last year in 2017.
General Dynamics delivered solid operating results and accomplished a number of key strategic objectives across the portfolio,” said Phebe N. Novakovic, chairman and chief executive officer.
“We closed on the CSRA acquisition, building on our core GDIT business to create a leading government IT services provider, and integration of the business is well underway. Our Combat and Marine segments continue to have reliable growth with strong operating performance.
And the FAA certified the G500 and we look forward to delivering this newest Gulfstream aircraft to our customers in fourth-quarter 2018.”