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Aerosonic Corp (AIM) SEC Filing 10-K Annual report for the fiscal year ending Sunday, January 31, 2010

Aerosonic Corp

HISTORY TOOLS
CIK: 109471

EXHIBIT 99.1
Contact
Kevin J. Purcell
727-461-3000
For Immediate Release

Aerosonic Reports Fourth Quarter and Full Year Results
 
CLEARWATER, Fla. – April 7, 2010 - Aerosonic Corporation (NYSE AMEX: AIM), a leading supplier of precision flight products for commercial, business and military aircraft, today announced its results for the fourth quarter and fiscal year 2010.

 
   
Three Months Ended
    
Twelve Months Ended
  
   
(Unaudited)
January 31, 2010
    
(Audited)
January 31, 2009
    
(Unaudited)
January 31, 2010
    
(Audited)
January 31, 2009
  
Sales, net
   $ 6,711,000     $ 4,923,000     $ 31,136,000     $ 20,451,000  
Gross profit
     2,765,000       86,000       11,910,000       3,433,000  
Operating income (loss)
     480,000       (3,433,000 )     4,143,000       (5,772,000 )
Net income (loss)
     1,602,000       (3,865,000 )     4,261,000       (5,327,000 )
Earnings (loss) per share
                                
Basic
   $ 0.43     $ (1.07 )   $ 1.15     $ (1.48 )
Diluted
   $ 0.40     $ (1.07 )   $ 1.09     $ (1.48 )

Net sales for the fourth quarter of fiscal year 2010 increased $1,788,000, or 36%, to $6,711,000 when compared to $4,923,000 for the fourth quarter of fiscal year 2009.  Net sales were $31,136,000 during fiscal year 2010, an increase of $10,685,000, or 52%, when compared to $20,451,000 for fiscal year 2009.  Throughout fiscal year 2010, the Company made significant progress in transitioning the business after the interruption caused by the August 2008 fire.  In that regard, the Company was successful in stabilizing and improving upon critical manufacturing and planning processes.
 
Gross profit increased from 2% for the fourth quarter of fiscal year 2009 to 41% for the fourth quarter of fiscal year 2010.  Gross profit increased from 17% for fiscal year 2009 to 38% for fiscal year 2010.  During the comparable periods in fiscal 2009, the gross profit performance was negatively and significantly impacted by the effects of the fire in August 2008.  The significant improvements in gross profit performance in fiscal 2010 are due primarily to the increased manufacturing throughput combined with improvements in operational performance.

 
 
The following information was filed by Aerosonic Corp on Friday, April 9, 2010 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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SEC Filing Tools
CIK: 109471
Form Type: 10-K Annual Report
Accession Number: 0001193125-10-104552
Submitted to the SEC: Mon May 03 2010 5:11:38 PM EST
Accepted by the SEC: Mon May 03 2010
Period: Sunday, January 31, 2010
Industry: Search Detection Navagation Guidance Aeronautical Sys

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