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Scott M. Bier, Vice President, CFO
Sylvia J. Castle, Investor Relations
Aldila, Inc., (858) 513-1801
FOR IMMEDIATE RELEASE
ALDILA REPORTS FOURTH QUARTER AND YEAR END
2009 FINANCIAL RESULTS
Poway, CA, March 11, 2010 ALDILA, INC. (OTCQX: ALDA) announced today net sales of $14.7 million and net income of $1.0 million ($0.19 income per share) for the three months ended December 31, 2009. In the comparable 2008 fourth quarter, the Company had net sales of $11.5 million and a net loss of $1.3 million ($0.26 loss per share). For the year ended December 31, 2009, net sales were $49.8 million and a net loss of $243,000 ($0.05 loss per share) as compared to net sales of $53.6 million and a net loss of $2.5 million ($0.48 loss per share) for the year ended December 31, 2008.
Our golf sales rose 21% in the fourth quarter of 2009 versus the fourth quarter of 2008 on a 20% increase in golf units shipped. Our average selling price was flat for the quarter. The Company benefited by a positive mix change during the quarter. This positive mix change coupled with increased manufacturing efficiencies and lower manufacturing costs were contributors that drove increases in gross profit and gross margins during the fourth quarter 2009 versus the fourth quarter of 2008. During the fourth quarter we saw the positive effects of our reduced manufacturing cost structure after the closing of our Mexico factory and the increase in production volumes running through our two Asian facilities. Our Composite Materials business continued to gain strength during the fourth quarter of 2009 with sales increasing by 76% versus the comparable quarter last year, said Mr. Peter R. Mathewson, Chairman of the Board & CEO.
In the fourth quarter we experienced a steady increase in business activity. Golf shipments and incoming orders were strong. Our golf customers appear cautiously optimistic that 2010 will be somewhat of a recovery year and we are certainly seeing OEMs returning to historical ordering patterns at this time. This has been fueled by relatively low inventory levels in the distribution channels and a broad array of new product offerings. Initial retail sell in appears to be good; however, the uncertainty lies with the sell through. It is dependent on the mindset of the golf consumer and whether they return to purchasing new clubs in enough numbers to continue to pull the product through the channels, said Mr. Mathewson.
While 2009 was as challenging a year as any of us can remember we are pleased with our results as we certainly fared better than most in our industry. During the year we had
The following information was filed by Aldila Inc on Thursday, March 11, 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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