PLAINVIEW, New York — February 8, 2011
-- Aeroflex Holding Corp. ("Aeroflex") (NYSE: ARX), a leading global
provider of microelectronic components and test and measurement equipment, today
announced its financial results for the fiscal second quarter and six months
ended December 31, 2010.
November 2010, Aeroflex successfully completed a $267 million initial public
offering. Almost all of the net proceeds after fees, expenses and
extinguishment costs were used to retire $186.6 million of high yield
net sales this quarter were driven by continued growth in LTE products,
radiation hardened space products and revenue from acquired
companies. GAAP results were impacted by non-recurring costs
associated with the initial public offering and the extinguishment of high yield
debt. Compared to the second quarter of fiscal 2010, non-GAAP results
for the second quarter of fiscal 2011 include costs associated with the
acceleration of research and development projects in Aeroflex Test
Solutions to meet customer requirements for new products, and higher operating
costs due to the acquisitions of Willtek, Radiation Assured Devices and Advanced
Control Components which were not fully integrated during the
fiscal year 2011 non-GAAP effective tax rate expected from our current
geographic mix of non-GAAP pre-tax income is 31%. This rate was
applied to our non-GAAP pre tax income for the three and six month periods ended
December 31, 2010.
following tables present selected financial information for the three and six
months ended December 31, 2010 and 2009 prepared in accordance with generally
accepted accounting principles (“GAAP”) and on a basis other than GAAP
reconciliation of GAAP to Non-GAAP is presented at the end of this press
The following information was filed by Aeroflex Inc on Tuesday, February 8, 2011 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.
View differences made from one quarter to another to evaluate Aeroflex Inc's financial trajectory
Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were removed, and by Aeroflex Inc.
CIK: 2601 Form Type:10-Q Quarterly Report Accession Number: 0001144204-11-006889 Submitted to the SEC: Wed Feb 09 2011 2:08:12 PM EST Accepted by the SEC: Wed Feb 09 2011 Period: Friday, December 31, 2010 Industry: Semiconductors And Related Devices