Aerosonic Announces Filing of 2006 Form 10-Q And Results for the First Quarter of Fiscal Year 2006.CLEARWATER Clearwater, city, United States Clearwater, residential and resort city (1990 pop. 98,784), seat of Pinellas co., W central Fla., on the Pinellas peninsula, between Clearwater Bay and the Gulf of Mexico; inc. 1891. , Fla. -- 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 quarterly report on Form 10-Q Form 10-Q See 10-Q. for the quarter ended April 29, 2005, with the U.S. Securities and Exchange Commission. For its fiscal quarter ended April 29, 2005, the Company reported revenue of $9.1 million, up nearly $2.0 million, or 28%, when compared to revenues of $7.1 million for the fiscal quarter ended April 30, 2004. Substantial improvements in production throughput The speed with which a computer processes data. It is a combination of internal processing speed, peripheral speeds (I/O) and the efficiency of the operating system and other system software all working together. 1. across product lines resulted in significant increases in revenues for core instruments and electronics that offset revenue decreases of approximately $0.3 million due to a reduction in progress 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 quarter ended April 29, 2005 were approximately $449,000, or $0.11 per share, an increase of $240,000 from approximately $209,000, or $0.05 per share, for the quarter ended April 30, 2004. This improvement is largely driven by the increase in volume, while selling, general and administrative expenses were relatively flat, when compared to the quarter ended April 30, 2004. "The Company's performance in the first quarter is further evidence of improvements in our production capabilities that have generated solid performance," stated David Baldini, Aerosonic's Chairman, President and Chief Executive Officer. "We have maintained improvements in operating efficiencies for production of our core products while continuing to make substantial investments in the development of new products to secure future business." 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, profits from future operations, overall future business prospects and long term stockholder value, 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 current stockholder litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. , adverse developments involving 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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