Exhibit 99.1

 

Aerosonic Reports First Quarter Results

 

 

CLEARWATER, Fla. – June 11, 2012 – Aerosonic Corporation (NYSE Amex: AIM), a leading supplier of precision flight products for commercial, business and military aircraft, announced that today it filed its Quarterly Report on Form 10-Q for the three months ended April 27, 2012 with the United States Securities and Exchange Commission.

 

   Three Months Ended 
   (Unaudited) 
   April 27, 2012   April 29, 2011 
Sales, net  $7,361,000   $6,709,000 
Operating income (loss)  $720,000   $(382,000)
Net income (loss)  $413,000   $(317,000)
Basic earnings (loss) per share  $0.11   $(0.08)
Diluted earnings (loss) per share  $0.10   $(0.08)


Net sales for the first quarter of fiscal year 2013 increased $652,000, or 9.7%, to $7,361,000 when compared to $6,709,000 for the first quarter of fiscal year 2012. During the first quarter of fiscal year 2013, the net sales increased from the prior year on sales of development services and spares, partially offset by decreased sales of mechanical products and repairs, while sales of sensor products were comparable. Our net sales continue to be impacted by the ongoing recession in the business jet and general aviation markets.

 

For the quarter ended April 27, 2012, net income was $413,000 or $0.11 basic and $0.10 diluted earnings per share, versus net loss of ($317,000), or ($0.08) basic and diluted loss per share for the quarter ended April 29, 2011.

 

“We continue to make good progress in our overall operating performance, despite the persistent slowdown in general aviation and business jet segments,” noted Doug Hillman, President & CEO. “Volatility may occur, but the team continues to stay focused on steadily increasing value for our customers and stockholders.”

 

Aerosonic Corporation, headquartered in Clearwater, Florida, is principally engaged in the manufacture of aviation products. For additional information, visit the Company’s website at www.aerosonic.com.

This document contains statements that constitute "forward-looking" statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. "Forward-looking" statements contained in this document include the intent, belief or current expectations of the Company and its senior management team with respect to future actions by officers and directors of the Company, prospects of the Company's operations, profits from future operations, overall future business prospects and long term stockholder value, as well as the assumptions upon which such statements are based.

Investors are cautioned that any such forward-looking statements are not guarantees of future performance, and that actual results involve significant risks and uncertainties that may cause results to differ materially from those contemplated by such forward-looking statements. Important factors that could cause actual results to differ materially from those contemplated by the forward-looking statements in this document include, but are not limited to, adverse developments involving operations of the Company's business units, failure to meet operating objectives or to execute the business plan, and the failure to reach revenue or profit projections. These and other risk factors that could cause actual results to differ materially from those expressed or implied in our forward-looking statements are and will be discussed in the Company’s filings with the Securities and Exchange Commission from time to time, including its most recent annual report on Form 10-K and any subsequently filed quarterly reports on Form 10-Q. The Company undertakes no obligation to update or revise the forward-looking statements contained in this document to reflect changed assumptions, the occurrence of unanticipated events, or changes to future operating results over time.

 


The following information was filed by Aerosonic Corp on Tuesday, June 12, 2012 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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