AML Communications Reports Fiscal Year 2010 First Quarter Results.* 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 Increase from First Quarter of FY 2009 * Profitable for Seventh Consecutive Quarter * Company to Host Conference Call Today at 1:00 PM PDT PDT abbr. Pacific Daylight Time PDT Pacific Daylight Time PDT n abbr (US) (= Pacific Daylight Time) → hora de verano del PacĂfico PDT CAMARILLO, Calif. -- AML AML - A Manufacturing Language Communications, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :AMLJ) today announced results for the first quarter ended June 30, 2009. Net sales for the first quarter were $3.4 million, compared to $3.3 million for the quarter ended June 30, 2008. Net income for the quarter was $92,000, or $0.01 per share. Net income for last year's first quarter was $451,000, or $0.04 per share, which included a one-time, pre-tax book entry gain of $521,000. "AML's first quarter results mark our solid seventh consecutive profitable quarter and year-over-year revenue growth. Even so, these results do not reflect the positive sales momentum we achieved in recent months, which included a $1.5 million order in June and a $2.2 million order in July. These orders are being processed, and the financial impact is expected during the balance of the current fiscal year," said Jacob Inbar, President and Chief Executive Officer of AML. AML/MPI Defense Segment The Company's core business is microwave amplifiers and integrated assemblies used by the defense industry in electronic warfare Noun 1. electronic warfare - military action involving the use of electromagnetic energy to determine or exploit or reduce or prevent hostile use of the electromagnetic spectrum EW military action, action - a military engagement; "he saw action in Korea" systems. This business is conducted by the Company's two largest divisions, AML and MPI MPI - Message Passing Interface , which account for over 95% of the Company's revenues. Defense segment revenue for the quarter was $3.2 million while generating a net profit of $80,000. Revenue for the period reflects low production rates that did not benefit from the increased bookings seen during the last six months. With engineering and production preparations for these orders complete, we have recently commenced high level production. The financial impacts are forecasted to occur during the balance of the current fiscal year. A significant driver of the Company's revenues and profits is AML's participation in the UAV UAV Unmanned Aerial Vehicle UAV Unmanned Air Vehicle UAV Unmanned Aerospace Vehicle UAV Unmanned Airborne Vehicle UAV Uninhabited Air Vehicle UAV Urban Assault Vehicle UAV Unpiloted Aerial Vehicle (less common) (Unmanned Aerial Vehicles
The company wishes to note that the increasing success taking place at AML this year and the successes we plan to deliver in the future could not have come about without the extraordinary contributions from every AML employee. Energy Management Segment (Mica-Tech) The Company's Mica-Tech segment designs, manufactures and markets an intelligent satellite system that provides Supervisory Control and Data Acquisition (application) Supervisory Control and Data Acquisition - (SCADA) Systems are used in industry to monitor and control plant status and provide logging facilities. SCADA systems are highly configurable, and usually interface to the plant via PLCs. (SCADA (Supervisory Control And Data Acquisition) A process control application that collects data from sensors and machines on the shop floor or in remote locations and sends them to a central computer for management and control. ) of the electric power grid. Mica-Tech's revenues for the quarter were $158,000 while generating a net profit of $12,000. The principal activity at Mica-Tech is the completion of product development for third-generation sub-station controllers. On July 13, 2009, the Company announced its intention to apply for a $2 million grant under the Department of Energy's Smart Grid Please help [ rewrite this article] from a neutral point of view. Mark blatant advertising for , using . Investment Grant (SGIG SGIG Sovereign Grand Inspector General ) program. Conference Call For further details on the quarter, investors are invited to join AML's conference call scheduled for 1:00 PM PDT, today, August 3, 2009. The conference call dial-in number is 1-877-212-8197 for domestic participants and 1-816-249-4432 for international participants. The Conference ID number is 22904430. A replay of the call will be available for playback through the Company's website, http://www.amlj.com/ir.html, after 6:00 AM Pacific Time on Wednesday, August 5, 2009. About AML Communications AML Communications is a designer, manufacturer, and marketer of amplifiers and integrated assemblies that address the Defense Electronic Warfare Markets. The Company's extensive range of microwave low noise amplifiers and power amplifiers can be found in leading defense projects. With over 20 years of serving the military with outstanding customer care, quality, performance, and price leadership, AML is committed to mission success. The Company's Mica-Tech subsidiary is a designer, manufacturer and marketer of intelligent satellite systems that provide Supervisory Control and Data Acquisition (SCADA) of the electric power grid. Forward-Looking Statements This press release contains forward-looking statements made in reliance upon the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Forward-looking statements include, but are not limited to, the Company's views on future profitability, commercial revenues, market growth, capital requirements Capital requirements Financing required for the operation of a business, composed of long-term and working capital plus fixed assets. , new product introductions, and are generally identified by words such as "thinks,'' "anticipates,'' "believes,'' "estimates,'' "expects,'' "intends,'' "plans,'', "schedules", and similar words. Forward-looking statements are not guarantees of future performance and are inherently subject to uncertainties and other factors which could cause actual results to differ materially from the forward-looking statements. These factors and uncertainties include: reductions or cancellations in orders from new or existing customers; success in the design of new products; the opportunity for future orders from domestic and international customers including, in particular defense customers; general economic conditions; the limited number of potential customers; variability in gross margins on new products; inability to deliver products as forecast; failure to acquire new customers; continued or new deterioration of business and economic conditions in the wireless communications industry; and intensely competitive industry conditions with increasing price competition. The Company refers interested persons to its most recent Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. and its other SEC filings for a description of additional uncertainties and factors that may affect forward-looking statements. Forward-looking statements are based on information presently available to senior management, and the Company has not assumed any duty to update its forward-looking statements. [TABLE OMITTED] |
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