Aerosonic announces year-end profits.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.--(BUSINESS WIRE)--April 1, 1997-- -0-
Aerosonic Corp.
Twelve Months Ended
Jan. 31,
1997 1996
Net Sales $21,176,000 $18,966,000
Income (Loss) Before
Taxes $ 1,436,000 $(2,756,000)
Benefit (Provision)
For Income Taxes $ (512,000) $ 870,000
Net Income/(Loss) $ 924,000 $(1,886,000)
Net Income/(Loss) Per
Share $ 0.24 $ (0.50)
Weighted Average
Number of Shares and
Common Shares
Equivalents 3,806,000 3,796,000
Aerosonic Corp. (ASE (Adaptive Server Enterprise) A relational DBMS from Sybase that runs on Windows NT/2000, Linux and a variety of Unix platforms. ASE is a comprehensive and robust data management product with a long history dating back to the late 1980s. :AIM) Tuesday reported a net income of $924,000, or $0.24 per share, for the fiscal year ended Jan. 31, 1997 as compared to a net loss of $1,886,000, or $0.50 per share, for the prior fiscal year. Earnings in the fourth quarter of fiscal year 1997 equaled $0.17 per share versus a loss of $0.42 per share in the fourth quarter of fiscal year 1996. The above figures include operations from the ordnance division, which was discontinued dis·con·tin·ue v. dis·con·tin·ued, dis·con·tin·u·ing, dis·con·tin·ues v.tr. 1. To stop doing or providing (something); end or abandon: through an asset sale in June 1996. Extraordinary items that affected earnings in FY 1997 included the additional $225,000 charge against first quarter earnings for the final payment towards the settlement of a patent infringement patent infringement n. the manufacture and/or use of an invention or improvement for which someone else owns a patent issued by the government, without obtaining permission of the owner of the patent by contract, license or waiver. lawsuit lawsuit: see procedure; tort. filed by Sensonics Inc. Included in the second quarter is a $41,000 gain recorded on the sale of the ordnance division assets. In the fourth quarter, the company benefited from the settlement of a terminated contract with the U.S. Navy; the contract was terminated for the convenience of the government. The company continues to focus on the streamlining of its manufacturing process. In addition, the global market concept has resulted in increased revenues and 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. . "We are extremely pleased with our financial performance for fiscal year 1997," said J. Mervyn Nabors, 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. and Chairman of the Board. "All of the employees in this company have joined toghether as a team to ensure the success of Aerosonic for the years to come," stated Nabors. CONTACT: Aerosonic Corp. J. Mervyn Nabors Phone: 813/461-3000 Fax: 813/447-5926 |
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