AIRPORT SYSTEMS REPORTS THIRD 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 Kan, river, China: see Gan. .--(BUSINESS WIRE)--Feb. 21, 1996--Airport Systems International, Inc. (Nasdaq/NM:ASII) today reported results for the third fiscal quarter and nine months ended January January: see month. 31, 1996. For the third quarter, 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 $3.7 million compared with $4.4 million a year ago. For the quarter, the Company reported a net loss of $74,000, or $0.03 per share, versus net income of $201,000, or $0.08 per share, in the third quarter of fiscal 1995. The results for the third quarter brought net sales for the first nine months of fiscal 1996 to $9.7 million compared with $13.8 million in the first nine months of fiscal 1995. For the first nine months, the Company reported a net loss of $441,000, or $0.20 per share, versus net income of $991,000, or $0.41 per share, in the year-earlier period. "Although we were not profitable for the quarter, the trend in incoming business did improve during the period," remarked Keith S Keith may refer to: People with the given name Keith:
n. 1. One who works as a mason without having served a regular apprenticeship. , president and chief executive officer. "For the quarter as a whole, we received more than $7 million in new orders. In November we received an award to supply navaids to Turkey, a country where Airport Systems recently completed two other installations. During January we announced a series of individual contracts for the installation of navaids and systems in Korea, Finland, Vietnam and Indonesia. As a result of this new business, our backlog Backlog 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. at the close of the third quarter totaled $6.5 million, up from $2.8 million at mid-year. We have several bids outstanding for additional U.S. and international contracts and are optimistic op·ti·mist n. 1. One who usually expects a favorable outcome. 2. A believer in philosophical optimism. op that this positive trend in our backlog will continue." 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
January 31,
1996 1995
Sales $3,676,000 $ 4,394,000
Net income (loss) $ (74,000) $ 201,000
Net income (loss) per share $ (0.03) $ 0.08
Weighted average shares outstanding 2,190,000 2,396,000
Nine Months Ended
January 31,
1996 1995
Sales $9,661,000 $13,839,000
Net income (loss) $ (441,000) $ 991,000
Net income (loss) per share $ (0.20) $ 0.41
Weighted average shares outstanding 2,190,000 2,396,000
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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