“Separately, we still expect to deliver 50 to 52 G700s this year.”

In context

“leted and ready to go, but could not get through the preflight delivery testing in time. You might be surprised to learn that each G700 has flown about 30 hours of tests before delivery. Two of the planes also needed a supplemental type certificate because of a very different cabin configuration. That wasn't done by the end of the quarter. All right, back to some numerical comparisons. The sequential numbers are equally impressive. Revenue is up $856 million, a strong 41% increase, and operating earnings are up $64 million, about 25%, affected by 130 basis point degradation in operating margins for the reason I just mentioned a moment ago. You will see much stronger operating margins in the third quarter, followed by even better operating margin and related earnings in the fourth quarter. Separately, we still expect to deliver 50 to 52 G700s this year. Look for about 16 in the third quarter and 23 to 25 in the fourth quarter. From an orders perspective, we had a respectable quarter at 0.9:1 book-to-bill in dollar terms. There is strong interest in a fair pipeline across the product mix. As I noted last quarter, bringing transactions to close has elongated somewhat, as there is some caution, while customers digest the impact of geopolitical events in general and U.S. presidential election in particular. The United States remains our strongest market, but the yield is improving. The Middle East shows very strong potential. And just very recently, we have seen some improvement in China. The interest level of buyers and the expiration of accelerated depreciation at the end of the year suggests a reasonably strong order intake in the second”