Printer Friendly

AEL REPORTS HIGHER EARNINGS IN THIRD QUARTER

 AEL REPORTS HIGHER EARNINGS IN THIRD QUARTER
 LANSDALE, Pa., Dec. 12 /PRNewswire/ -- AEL Industries, Inc.


(NASDAQ-NMS: AELNA) today reported slightly higher earnings on level revenues in the third quarter ended Nov. 29, 1991.
 Net income for the quarter was $543,000 or $.14 per share on revenues of $33,603,000 compared to revenues of $34,090,000 and net income of $490,000 or $.12 per share in the third quarter of last year.
 For the nine months, net income was $1,179,000 or $.30 per share on revenues of $109,822,000 compared to net income of $2,232,000 or $.57 per share on revenues of $106,880,000 for the comparative period last year.
 George King, chief financial officer, said, "The heavy bidding activity that impacted earnings in the first half eased somewhat in the third quarter resulting in a modest improvement in net income." The company's backlog at the end of the third quarter was $135 million compared to $179 million a year ago.
 AEL is a leading supplier of electronic defense systems and subsystems. The company designs and manufactures sophisticated countermeasures, simulation and radar warning systems, engages in the installation and integration of electronic and avionics equipment in military aircraft and provides state-of-the-art antenna systems, microwave integrated components and hybrid microelectronic circuits.
 The Class A common stock of AEL Industries, Inc. is traded in the over-the-counter market on the NASDAQ National Market System under the symbol AELNA.
 AEL INDUSTRIES, INC.
 (Dollars in thousands, except per-share amounts)
 Thirteen weeks ended 11/29/91 11/30/90
 Sales and service revenues $33,603 $34,090
 Income before income taxes
 and extraordinary credit 621 516
 Income tax provision 294 177
 Income before extraordinary credit 327 339
 Extraordinary credit-benefit of net
 operating loss carryforward 216 151
 Net income 543 490
 Net income per share:
 Income before extraordinary credit $.08 $.09
 Extraordinary credit-benefit of net
 operating loss carryforward .06 .03
 Net income .14 .12
 Weighted average shares outstanding 3,889,000 3,896,000
 Forty weeks ended 11/29/91 11/30/90
 Sales and service revenues $109,822 $106,880
 Income before income taxes
 and extraordinary credit 1,328 2,351
 Income tax provision 627 837
 Income before extraordinary credit 701 1,514
 Extraordinary credit-benefit of net
 operating loss carryforward 478 718
 Net income 1,179 2,232
 Net income per share:
 Income before extraordinary credit $.18 $.39
 Extraordinary credit-benefit of net
 operating loss carryforward .12 .18
 Net income .30 .57
 Weighted average shares outstanding 3,891,000 3,894,000
 /delval/
 -0- 12/12/91
 /CONTACT: Jesse H. Riebman, vp and treasurer of AEL Industries, 215-822-2929/
 (AELN) CO: AEL Industries, Inc. ST: Pennsylvania IN: ARO SU: ERN


CC-MK -- PH024 -- 2016 12/12/91 14:23 EST
COPYRIGHT 1991 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Dec 12, 1991
Words:460
Previous Article:DATA GENERAL NAMES GUZZI VICE PRESIDENT
Next Article:$200,000 IBM GRANT TO TENNESSEE STATE SUPPORTS MINORITY ENGINEERING TRAINING
Topics:


Related Articles
AEL INDUSTRIES REPORTS FIRST QUARTER RESULTS
AEL INDUSTRIES, INC. - MEMBER OF WINNING ATRJ TEAM
AEL REPORTS SECOND QUARTER RESULTS
AEL REPORTS HIGHER EARNINGS IN THIRD QUARTER
AEL REPORTS REVENUE/PROFIT GAINS FOR FISCAL YEAR
AEL ANNOUNCES ATRJ CONTRACT DEFINITIZATION
TRACOR TO ACQUIRE AEL INDUSTRIES
AEL REPORTS LOWER REVENUES; LOSS IN THIRD QUARTER
TRACOR COMPLETES ACQUISITION OF AEL INDUSTRIES
Tracor Reports Record-High Sales And Net Income For The Year

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters