MEMORANDUM
To: All Employees
From: Brent Wouters, President & CEO
Date: December 22, 2009
Re: Happy Holidays
I want to personally wish all Cirrus employees a Merry Christmas and a very happy holiday season. Especially at this time of year I am well aware of the tremendous effort and sacrifices made by each of you and your families. We are truly thankful for your efforts. We will work diligently every day to achieve results that allow us to restore your sacrifices and reward our employees in the coming year. My thoughts are also with former Cirrus employees and their loved ones. Their presence and contributions are missed.
Because of your efforts, we have achieved an extraordinary turnaround at Cirrus. Late 2008 and 2009 involved many surprises and challenges yet our financial condition is strong today and continues to improve. More importantly, we have captured increased market share this year by improving our marketing and sales efforts both in the U.S. and around the world. Equally important, we have continued our investment in product innovation and our highest priority, the SF50 Vision Jet.
We are positioned well for 2010. While the coming year may not be easy and may present new challenges as the economy finds its foundation and strengthens, I know that our culture of innovation and resilience will help us adapt to any circumstance that we face. We have adjusted well to current lower airplane production, yet many large sales opportunities are in the works. I am optimistic about our prospects to win these sales opportunities, and I am confident with our current position if these take longer than expected to materialize.
You may have seen the stories about discussions we are having with the City of Grand Forks or Duluth. As is often the case, the media missed the most important reason for my recent visits to both: I was there to tell them personally that our business is strong and we are ready to work out a resolution to any past due amounts ‐ that's good news. You need not worry as Cirrus can and will meet all its obligations to our partners.
In closing, last week I received a note from a prospective airplane buyer after touring our plant, saying “The Cirrus factory was impressive to say the least. Both [my wife] and I have had the chance over the last 6 years to tour many manufacturing facilities and without a doubt the Cirrus facility shines above the rest. The friendly employees, the cleanliness and the overall energy throughout the building says quite a bit about your product and the way Cirrus conducts business.”
As you take a well deserved break, be reassured of our strength as we build on our great progress toward a very prosperous year in 2010.
Again, I wish you and yours peace and a very Merry Christmas.