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Aerosonic Reports Third Quarter Results

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 quarter ended October 29, 2010, with the United States Securities and Exchange Commission.

    Three Months Ended

(Unaudited)

  Nine Months Ended

(Unaudited)

   

October 29, 2010

 

October 30, 2009

 

October 29, 2010

 

October 30, 2009

Sales, net   $ 7,049,000   $ 7,537,000   $ 20,793,000   $ 24,425,000
Gross profit     2,069,000     2,672,000     6,322,000     9,145,000
Operating income     345,000     918,000     1,024,000     3,653,000
Net income   $ 93,000   $ 728,000   $ 370,000   $ 2,659,000
Earnings per share                
Basic   $ 0.02   $ 0.20   $ 0.10   $ 0.72
Diluted   $ 0.02   $ 0.18   $ 0.09   $ 0.69

Net sales for the third quarter of fiscal year 2011 decreased $488,000, or 6%, to $7,049,000 when compared to $7,537,000 for the third quarter of fiscal year 2010. During the third quarter of fiscal year 2011, the sales volume decreased from the prior year by approximately $1.2 million on reduced demand for transmitter products, sensor products and spares, offset by approximately $800,000 of increased sales volume of mechanical instruments, contributing to the net decrease of $488,000.

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