AIRPORT SYSTEMS REPORTS SECOND QUARTER RESULTS.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)--Nov. 22, 1995--Airport Systems International, Inc. (Nasdaq/NM:ASII) today reported results for the second quarter and first six months of the Company's 1996 fiscal year. Last month Airport Systems had announced that, because of lower-than-expected revenues, the Company did not expect to be profitable for the second quarter. For the three months ended October 31, 1995, 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 $2.7 million, compared with $4.4 million a year ago. The loss for the second quarter amounted to $368,000, or $0.15 per share, versus net income of $375,000, or $0.16 per share, in the year-earlier period. Results for the second quarter brought net sales for the first six months of fiscal 1996 to $6.0 million, compared with $9.4 million in the first half of fiscal 1995. For the six months ended October 31, 1995, the Company reported a loss of $367,000, or $0.15 per share, compared with net income of $791,000, or $0.33 per share, in the year-earlier period. "As we indicated at the start of fiscal 1996, we had expected difficult year-to-year comparisons at least through the first half of the year," remarked Keith S Keith may refer to: People with the given name Keith:
Cowan added, "During the second fiscal quarter, we successfully entered China with a contract for a Doppler very high frequency omni-range (VOR) system. China represents one of the largest potential markets for navaids over the next several years, and we believe Airport Systems is well positioned to increase our participation in the improvement in that nation's air traffic infrastructure. This contract, as well as the Turkey contract, is the result of our investment in additional marketing resources. Our global stance will be enhanced by the joint venture signed last month with two Indonesian corporations, establishing the first manufacturer of advanced navaid systems in that country. The joint venture will manufacture and market radio navigation Radio-location intended for the determination of position or direction or for obstruction warning in navigation. , landing and runway visual aids visual aids Noun, pl objects to be looked at that help the viewer to understand or remember something for Indonesia and solidifies our intent to be an active participant in helping to modernize the air travel infrastructure within the Pacific Rim Pacific Rim, term used to describe the nations bordering the Pacific Ocean and the island countries situated in it. In the post–World War II era, the Pacific Rim has become an increasingly important and interconnected economic region. which is expected to be one of the fastest growing economic areas well into the next century. "Our marketing efforts have also been focused on work underway at numerous airports within the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. to upgrade the landing and navigation systems. This includes a contract we were awarded in Lincolnton, North Carolina Lincolnton is a city in Lincoln County, North Carolina, United States. The population was 9,965 at the 2000 census. It is the county seat of Lincoln CountyGR6. . In addition, we are awaiting contract awards on projects in Newnan, Georgia Newnan is a city in Coweta County, Georgia, 39 miles (63 km) southwest of Atlanta. In 1900: 3,654 people lived in Newnan, Georgia; in 1910: 5,548, and in 1940: 7,182. The population was 16,242 at the 2000 Census. and Millington, Tennessee Millington is a city in Shelby County, Tennessee. As of the 2000 census, the city had a population of 10,433. It is the home of Memphis Motorsports Park. It was granted the title "Flag City Tennessee" by the Tennessee state legislature. where we are the low bidder." 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
October 31,
1995 1994
Sales $2,671,000 $4,367,000
Net income (loss) $ (368,000) $ 375,000
Net income (loss) per share $ (0.15) $ 0.16
Six Months Ended
October 31,
1995 1994
Sales $5,985,000 $9,445,000
Net income (loss) $ (367,000) $ 791,000
Net income (loss) per share $ (0.15) $ 0.33
CONTACT: Airport Systems International, Inc., Overland Park Thomas C. Cargin, 913/495-2614 |
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