Visiteur non identifié - Connexion - Inscrivez-vous
Aerosonic Corporation (AMEX:AIM), a leading supplier of precision
flight products for commercial, business and military aircraft,
announced that today it filed its annual report on Form 10-K for the
year ended January 31, 2007, with the United States Securities and
Exchange Commission.
-0-
*T
SUMMARY FINANCIAL RESULTS
----------------------------------------------------------------------
Fourth Quarter
-----------------------------------==================================
FY 2007 FY 2006 Change
-----------------------------------==================================
Revenues $7,260,000 $7,754,000 ($494,000)
---------------------------------------------------------------------
Operating income (132,000) 134,000 (266,000)
---------------------------------------------------------------------
Operating margin (1.8)% 1.7% (3.5%)
---------------------------------------------------------------------
---------------------------------------------------------------------
Net income $(211,000)$1,129,000 ($1,340,000)
---------------------------------------------------------------------
Earnings per share
---------------------------------------------------------------------
Basic and diluted $(0.06) $0.29 ($0.23)
---------------------------------------------------------------------
---------------------------------------------------------------------
Operating cash flow $458,000 $178,000 $280,000
---------------------------------------------------------------------
Full Year
----------------------------------====================================
FY 2007 FY 2006 Change
----------------------------------====================================
Revenues $31,253,000 $34,763,000 ($3,510,000)
----------------------------------------------------------------------
Operating income 942,000 2,308,000 (1,366,000)
----------------------------------------------------------------------
Operating margin 3.0% 6.6% (3.6%)
----------------------------------------------------------------------
----------------------------------------------------------------------
Net income $565,000 $2,550,000 ($1,985,000)
----------------------------------------------------------------------
Earnings per share
----------------------------------------------------------------------
Basic and diluted $0.16 $0.65 ($0.49)
----------------------------------------------------------------------
----------------------------------------------------------------------
Operating cash flow $1,190,000 $2,964,000 ($1,774,000)
----------------------------------------------------------------------
*T
For its fiscal quarter ended January 31, 2007, the Company
reported revenues of approximately $7.3 million, down 6% as compared
to revenues of approximately $7.8 million for the fiscal quarter ended
January 31, 2006. This decrease compared to last year was primarily
attributed to reduced revenue recognition on the nearly complete F-35
(Joint Strike Fighter) development program.
The Company reported a net loss for the quarter ended January 31,
2007 of approximately $211,000, or a loss of $0.06 per share, versus
net income of $1,129,000, or $0.29 per share for the quarter ended
January 31, 2006. This decrease was the result of lower revenue and
gross profit rates, and was partially offset by lower
compensation-related and travel costs. Income tax expense was higher
due to a reduction in the estimate of extraterritorial income tax
credits in the current year.
For the year ended January 31, 2007, the Company reported revenues
of approximately $31.3 million, down 10% when compared to revenues of
approximately $34.8 million for the year ended January 31, 2006. This
decrease was primarily attributed to reduced revenue recognition on
the F-35 development program as well as continued weak spare parts
sales.
The Company's backlog increased approximately $3.2 million, or
15%, to approximately $24.2 million for the year ended January 31,
2007. This increase was driven by the receipt of a follow-on order
from Korea Aerospace Industries, Ltd. of approximately $7.5 million.
Net income for the year ended January 31, 2007 was approximately
$565,000, or $0.16 per share, down from $2,550,000, or $0.65 per share
for the year ended January 31, 2006. This decrease was driven by a
reduction in gross profit due to lower revenue as well as higher
income tax expense due to a reduction in estimated extraterritorial
income tax credits in the current year.
"Although our results are below the expectations of management, we
believe the recently-announced consolidation plan and the growth in
the backlog of the Company will improve our future prospects," stated
David Baldini, Aerosonic's Chairman, President and Chief Executive
Officer. "The Company's backlog grew more than 15% in the past year,
and the consolidation plan is expected to further rationalize our cost
structure and drive efficiencies throughout the Company. We will
continue the execution of the phased consolidation plan to ensure that
our customers' needs are satisfied and that the transition of the
Company's Virginia-based manufacturing and administrative activities
to its Florida operations occurs smoothly."
Aerosonic Corporation, headquartered in Clearwater, Florida, is
principally engaged in the manufacture of aviation products. Locations
of the Company include Clearwater, Florida and Earlysville, Virginia.
For additional information, visit the Company's website at
www.aerosonic.com.
This document contains statements that constitute
"forward-looking" statements within the meaning of the Securities Act
of 1933 and the Securities Act of 1934, as amended by the Private
Securities Litigation Reform Act of 1995. "Forward-looking" statements
contained in this document include the intent, belief or current
expectations of the Company and its senior management team with
respect to future actions by officers and directors of the Company,
prospects of the Company's operations, profits from future operations,
overall future business prospects and long term stockholder value, as
well as the assumptions upon which such statements are based.
Investors are cautioned that any such forward-looking statements
are not guarantees of future performance, and that actual results may
differ materially from those contemplated by such forward-looking
statements. Important factors that could cause actual results to
differ materially from those contemplated by the forward-looking
statements in this document include, but are not limited to, adverse
developments involving operations of the Company's business units,
failure to meet operating objectives or to execute the business plan,
and the failure to reach revenue or profit projections. The Company
undertakes no obligation to update or revise the forward-looking
statements contained in this document to reflect changed assumptions,
the occurrence of unanticipated events, or changes to future operating
results over time.
Sélectionnez votre lecteur de news préféré ci-dessous :
Ou bien intégrez le flux XML dans votre agrégateur RSS par défaut : 
