Aerosonic reports first quarter results.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)--June 12, 1996--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) Wednesday Wednesday: see week. reported a net loss of $199,000, or $.05 per share, for the first quarter ended April 30, 1996 as compared to a net income of $29,000, or $.01 per share, for the prior year quarter. Included in the current quarter was a $225,000 final settlement of the Sensonics 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. 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. , as previously reported. Overall sales decreased $44,000 as compared to the prior year. However, included in prior year sales was a $292,000 settlement for "Termination for convenience of the Government." Exclusive of this, overall sales increased $248,000, or 5% over the prior year quarter. Instrument sales increased $387,000, or 9% over the prior year quarter and Ordnance sales decreased $139,000 or 30% from the prior year. -0-
Aerosonic Corp.
Three Months Ended
April 30,
1996 1995
Net sales $4,989,000 $5,033,000 Net income (loss) $ (199,000)(a) 29,000 Net income (loss) per share $ (0.05) 0.01 Weighted average number of shares outstanding 3,802,000 3,793,000 Note (a): Included in the current quarter was a final settlement of the Sensonics patent litigation for $225,000. Without the settlement, the quarter would have shown a pretax loss pretax loss A loss reported before tax benefits are considered. of $76,000, income tax effect would have been $29,000 and net loss would have been $47,000, or $.01 per share. CONTACT: Aerosonic Corp., Clearwater J. Mervyn Nabors phone: 813/461-3000 fax: 813/447-5926 |
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