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Robert J. Cierzan, Vice President, Finance
Sylvia J. Castle, Investor Relations
Aldila, Inc. (858) 513-1801
FOR IMMEDIATE RELEASE
REPORTS FOURTH QUARTER AND YEAR END 2006
POWAY, CA, February 28, 2007 Aldila, Inc. (NASDAQ:NMS:ALDA) reported net sales of $17.9 million for the fourth quarter ended December 31, 2006 as compared to $18.0 million in the same quarter of 2005. The Company reported net income of $1.3 million ($0.24 earnings per share - fully diluted) for the fourth quarter of 2006 compared to net income of $2.7 million ($0.48 earnings per share - fully diluted) in the same quarter of 2005.
For the year ended December 31, 2006 net sales were $72.4 million as compared to $77.0 million for the year ended December 31, 2005. The Company had net income of $11.2 million ($2.01 earnings per share - fully diluted) for 2006 as compared to net income of $13.4 million ($2.46 earnings per share - fully diluted) in 2005. In the 2006 fiscal year the Company benefited from a settlement as a class member in a civil suit against certain carbon fiber producers in the amount of $2.2 million pretax. Excluding the benefit from the settlement, the Companys net income would have been $9.8 million ($1.75 earnings per share - fully diluted).
The Companys aggregate cash and cash equivalents was $15.2 million as of December 31, 2006 after payments of $3.3 million in dividends to stockholders, $1.2 million repurchasing its common stock and $4.6 million in capital expenditures in fiscal year 2006. In the fourth quarter of 2006 the Company did not repurchase any shares under its current stock repurchase plan. The Company repurchased 75,596 shares of its common stock in fiscal 2006. The Companys backlog of sales orders as of December 31, 2006 was $12.5 million versus $11.4 million as of December 31, 2005.
In the fourth quarter 2006 consolidated sales were relatively flat at $17.9 million versus $18.0 million in fourth quarter 2005, said Mr. Peter Mathewson, Chairman of the Board & CEO. The company reported net income of $1.3 million for the fourth quarter of 2006 as compared to net income of $2.7 million in the same quarter of 2005. Our average selling price of golf shafts declined 12% in the fourth quarter of 2006 while units sold increased 14% as compared to the fourth quarter of 2005. Our branded golf shaft sales decreased by 17% and co-branded sales declined 75% in the quarter versus the fourth quarter 2005 and together represented 39% of our golf shaft
The following information was filed by Aldila Inc on Wednesday, February 28, 2007 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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