Aerosonic Announces Filing of 2004 Form 10-K and Results for Fiscal Year 2004.Business Editors CLEARWATER, Fla.--(BUSINESS WIRE)--April 5, 2004 Aerosonic Corporation (AMEX AMEX See: American Stock Exchange :AIM), a leading supplier of precision flight products for commercial, business and military aircraft, announced that today it filed its 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. for the year ended January 31, 2004, with the U.S. Securities and Exchange Commission. For its fiscal year ended January 31, 2004, revenues increased $5.4 million to $31.1 million, compared to revenues of $25.7 million for the fiscal year ended January 31, 2003. The revenue increase is primarily attributable to increases in core instrument sales as well as greater development activity on the F-35 (Joint Strike Fighter A strike fighter is a fighter aircraft which is also capable of attacking surface targets, including ships. It differs from an attack aircraft in that the aircraft remains a capable fighter. ) development contract. Net earnings for the year ended January 31, 2004 were $0.5 million, or $0.14 per share, a decrease of $0.5 million from $1.0 million, or $0.26 per share, from the year ended January 31, 2003. Shareholders' equity Shareholders' Equity A firms' total assets minus its total liabilities. Equivalently, it is share capital plus retained earnings minus treasury shares. Shareholders' equity is the amount by which a company is financed through common and preferred shares. on January 31, 2004 was $9.5 million in contrast to shareholders' equity of $9.0 million at January 31, 2003. "We are pleased to release our results for our most recent fiscal year well in advance of our required filing date," stated David Baldini, Aerosonic's President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "This early filing comes at the conclusion of a year that posed many challenges for our company. Looking forward, we will continue to focus on our strategy of initiating plans that are essential for steering The process whereby builders, brokers, and rental property managers induce purchasers or lessees of real property to buy land or rent premises in neighborhoods composed of persons of the same race. us through future challenges and opportunities to build long term shareholder value." This document contains statements that constitute "forward-looking" statements within the meaning of the Securities Act of 1933 and the Securities Act of 1934, as amended a·mend v. a·mend·ed, a·mend·ing, a·mends v.tr. 1. To change for the better; improve: amended the earlier proposal so as to make it more comprehensive. 2. by 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 contained in this document include the intent, belief or current expectations of the Company and its senior management team with respect to future actions by officers and directors of the Company, prospects of the Company's operations, the amount of any anticipated restatements, profits from future operations, and the Company's overall future business prospects, as well as the assumptions upon which such statements are based. Investors are cautioned that any such forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. are not guarantees of future performance, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those contemplated by the forward-looking statements in this document include, but are not limited to, adverse developments with respect to the resolution of management issues, operations of the Company's business units, failure to meet operating objectives or to execute the business plan, and the failure to reach revenue or profit projections. The Company undertakes no obligation to update or revise the forward-looking statements contained in this document to reflect changed assumptions, the occurrence of unanticipated events, or changes to future operating results over time. |
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