Hi-Shear Announces First Quarter Results Revenues Increase 7%.TORRANCE, Calif. -- Hi-Shear Technology Corporation, Torrance, CA (NYSE NYSE
See: New York Stock Exchange Alternext US: HSR HSR homogeneously staining regions. ) today announced results for its first quarter of fiscal 2009 ending August 31, 2008. Revenues recognized during the first quarter were $6,044,000 compared to the revenues of $5,659,000 for the same period last year. The 7% revenue growth was attributed to the increased military aircraft product line activity during the quarter. Net income for the quarter ended August 31, 2008 was $1,166,000, or $0.17 per share, compared to net income of $1,130,000, or $0.17 per share, for the quarter ended August 31, 2007. On October 9, 2008 the Company approved the distribution of a cash dividend of $0.50 per share, or approximately $3,410,000, payable on October 27, 2008, to shareholders of record as of the close of business October 24, 2008.
Hi-Shear Technology Corporation provides pyrotechnic, mechanical, and electronic products to the aerospace and defense market in applications where safety, performance and high reliability are essential. It develops and produces advanced systems and products that are primarily used worldwide in space satellites, launch vehicles This is a list of space launch vehicles sorted by country/operator in alphabetical order, commercial vehicles are listed under their corresponding country.
This release, as it relates to product announcements and other Company matters, contains 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. , which are made pursuant to the safe harbor Safe Harbor
1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated.
2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of 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. Investors are cautioned that all forward-looking statements involve risks and uncertainties including, without limitation, risks related to market acceptance of and demand for the Company's new products, dependence on the uncertainty of government budgetary issues, primary government contracts, and intellectual property rights.
The Company's Form 10-QSB will be filed with the Securities and Exchange Commission on or about October 15, 2008. The 10-QSB will be available for download To receive a file transmitted over a network. In any communications session, "download" means receive, and "upload" means send. The download/upload often implies a big/little scenario, in which data is being downloaded from the "big" server into the "little" user's computer. at www.hstc.com. For more information regarding this release or general information about the company contact Ms. Linda A. Nespole, (310) 784-7821.
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