Aerosonic reports fourth quarter results.CLEARWATER, Fla.--(BUSINESS WIRE)--May 2, 1995--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 loss of $920,000, or 24 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. , for the fourth quarter ended Jan. 31, 1995 as compared to net income of $174,000, or 5 cents per share, for the prior year quarter. Net loss for the fiscal year was $211,000, or 6 cents per share, as compared to a net income of $869,000, or 23 cents per share, for the same period last year. Included in the fourth quarter was an $815,000 provision for 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. . The litigation, as previously reported, was the result of a judgment against Aerosonic in 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. action filed by Sensonics Inc. Aerosonic has appealed this decision to the United States Court of Appeals The United States courts of appeals (or circuit courts) are the intermediate appellate courts of the United States federal court system. A court of appeals decides appeals from the district courts within its federal judicial circuit, and in some instances from other . Overall sales were $24,394,000, an increase of 2% over the prior year in spite of in opposition to all efforts of; in defiance or contempt of; notwithstanding. See also: Spite a 27% decline in the Clearwater Instrument Division. This Clearwater sales decline represents $2,812,000 and is primarily the result of reduced government spending Government spending or government expenditure consists of government purchases, which can be financed by seigniorage, taxes, or government borrowing. It is considered to be one of the major components of gross domestic product. . This was offset by a $2,032,000, or 44% increase in Ordnance sales and a $1,168,000, or 13% increase in sales from the Avionics Specialities Inc. subsidiary. The Ordnance Division increase resulted primarily due to completion of the Military Base Closure contract. The Ordnance Division has been converting its military operation to truck and automotive manufacturing. New truck and automotive part shipments totaled $982,000 for the fiscal year. The Avionics Specialities increase can be attributed to new sales of its Power Analyzer analyzer /ana·ly·zer/ (an´ah-li?zer) 1. a Nicol prism attached to a polarizing apparatus which extinguishes the ray of light polarized by the polarizer. 2. and Recorder System which were $1,286,000 in fiscal 1995 as compared to $191,000 in the prior year. -0-
AEROSONIC CORP.
Three months ended Twelve months ended
Jan. 31, Jan. 31,
1995 1994 1995 1994
---- ---- ---- ----
Net sales $ 4,250 6,361 24,394 24,006
Net income (loss) $ (920)A 174 (211)A 869
Net income (loss)
per share $ (0.24) 0.05 (0.06) 0.23
Weighted average
number of shares
and common shares
equivalents 3,792 3,805 3,794 3,817
A - Included in the fourth quarter was a provision for settlement of
litigation for $815,000. Without the provision, the fiscal year
would have shown a pretax income of $471,000, income tax expense
would have been $178,000 and net income would have been
$293,000, or $.08 per share.
CONTACT: Aerosonic Corp., Clearwater David S. Goldman, 813/461-3000 813/447-5926 (fax) |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion