AIRPORT SYSTEMS REPORTS FIRST QUARTER EARNINGS ANNOUNCES NEW NAVAID CONTRACT IN MIDDLE EAST.OVERLAND PARK Overland Park, city (1990 pop. 111,790), Johnson co., NE Kans., a residential suburb of Kansas City; inc. 1960. There is printing and publishing, and the manufacture of apparel, aircraft parts, cement, prepared foods, salt, chemicals, marine accessories, and signs. , Kan.--(BUSINESS WIRE)--Aug. 22, 1996--Airport Systems International, Inc. (Nasdaq/NM:ASII) today reported results for the first quarter of the Company's 1997 fiscal year. For the three months ended July 31, 1996, Airport Systems reported net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight of $5.2 million compared with $3.3 million a year ago. Net income for the quarter totaled $135,000, or $0.06 per share, versus $1,000 in the year-earlier period. The Company also announced that it has been awarded contracts totaling $1.2 million to supply Category II ILS ILS In currencies, this is the abbreviation for the Israeli Shekel. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. systems for Beirut International Airport and to supply airfield signage for the airport serving Fairbanks, Alaska Fairbanks (IPA: /ˈfɛərbæŋks/) is a Home Rule City in Fairbanks North Star Borough, Alaska, United States. . "The first-quarter results represent sound year-to-year improvement in net sales and net income," remarked Keith S Keith may refer to: People with the given name Keith:
The total value of sales orders waiting to be fulfilled. Notes: This figure is used mainly in the manufacturing industry. Increases or decreases in a company's backlog indicate the future direction of sales and earnings. of $4.5 million at the close of the period was up from $4.3 million a year ago, signaling the positive momentum in our business. The timing of new navaid and airfield signage contracts remains uncertain; but the success we have experienced in booking orders over the last several months, including the awards announced today, encourages us about the prospect for additional business in the near future. The first-quarter results reflect our continuing investment in marketing and research and development efforts. These initiatives during the first quarter successfully broadened our international scope to include Taiwan, and led to further progress toward completion of our satellite-based landing system." Cowan added, "Our financial position remains strong. Cash flow from operations Cash flow from operations A firm's net cash inflow resulting directly from its regular operations (disregarding extraordinary items such as the sale of fixed assets or transaction costs associated with issuing securities), calculated as the sum of net income plus noncash expenses amounted to $2.4 million for the quarter. At the end of the first period, we had $3.0 million in cash and cash equivalents and stockholders' equity Stockholders' Equity The portion of the balance sheet that includes capital received from investors in exchange for stock (paid-in capital), donated capital, and retained earnings. This is equal to total assets minus liabilities, preferred stock and intangible assets. of $9.1 million. We continue to be interested in using these resources to acquire or develop product lines which integrate well with our current navaids and marketing organization." Airport Systems International, Inc. designs, manufactures, markets and installs ground-based equipment (navaids) and airfield signage to aid the in-flight navigation and ground movement of aircraft. The Company's products are used worldwide to guide the navigation of aircraft in various phases of a flight and in all visibility conditions. -0-
AIRPORT SYSTEMS INTERNATIONAL, INC.
Unaudited Financial Highlights
Three Months Ended
July 31,
1996 1995
Sales $ 5,155,000 $3,314,000
Net income $ 135,000 $ 1,000
Net income per share $ 0.06 $ 0.00
CONTACT: Airport Systems International, Inc., Overland Park Thomas (language) Thomas - A language compatible with the language Dylan(TM). Thomas is NOT Dylan(TM). The first public release of a translator to Scheme by Matt Birkholz, Jim Miller, and Ron Weiss, written at Digital Equipment Corporation's Cambridge Research Laboratory runs C. Cargin, 913/495-2614 |
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