Aeroflex Inc. reports first quarter net income of 5 cents vs. 6 cents last year.PLAINVIEW, N.Y.--(BUSINESS WIRE)--Nov. 8, 1995--Aeroflex Inc. (NYSE NYSE See: New York Stock Exchange Symbol:ARX), today announced operating results for the first quarter ended Sept. 30, 1995. 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 for the quarter ended Sept. 30, 1995 were $13,149,000 compared with $14,027,000 for the same period of last year. The company reported net income for the current quarter of $607,000 (5 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. ). Last year's first quarter net income was $715,000 (6 cents per share). Michael Gorin, president, stated, "Despite the lower sales and earnings which were caused by both the Puerto Rico Puerto Rico (pwār`tō rē`kō), island (2005 est. pop. 3,917,000), 3,508 sq mi (9,086 sq km), West Indies, c.1,000 mi (1,610 km) SE of Miami, Fla. consolidation effort and the timing of receipt of orders, we are encouraged by our current level of order backlog. Our backlog has increased 18% from $34.7 million at June 30, 1995 to $40.9 million at Sept. 30, 1995. In addition, as previously reported, the long delay definitization of the CASS CASS Cardiology, cardiovascular surgery A randomized, open label, multicenter trial that compared the outcomes of CABG vs. medical therapy on M&M in Pts with coronary artery disease after an MI. See Angina, CABG, Silent ischemia. contract was received from Lockheed Martin For the former company, see . Lockheed Martin (NYSE: LMT) is a leading multinational aerospace manufacturer and advanced technology company formed in 1995 by the merger of Lockheed Corporation with Martin Marietta. on October 27, 1995." Aeroflex Inc., headquartered in Plainview, designs and manufactures advanced electronics systems and components, including microelectronics, instrument products and electro-optical devices, primarily for the government and the defense industry. It also designs and manufactures shock and vibration stabilizing stabilizing, v to hold a limb motionless in order to ground its energy; a standard isometric resistance technique, it releases tension and lengthens muscle fibers. systems used for commercial, industrial and defense applications. -0-
Aeroflex Inc. and Subsidiaries
Consolidated Statements of Operations
($ in 000, except share data)
Quarter Ended
Sept. 30,
1995 1994
Net sales $ 13,149 $ 14,027 Income before income taxes 758 840 Provision for income taxes 151 125 Net income 607 715 Net income per common share .05 .06 Weighted average shares outstanding 12,714,000 12,353,000 CONTACT: Aeroflex Inc. Michael Gorin, 516/694-6700 |
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