Operating income of the Flight Support Group increased 22% to $20.4 million for the first quarter of fiscal 2011, up from $16.7 million for the first quarter of fiscal 2010, reflecting the higher sales volumes.
Operating margins of the Flight Support Group were 16.9% for the first quarter of fiscal 2011, compared to 17.8% reported for the first quarter of 2010. The decrease in the operating margin when compared to the first quarter of fiscal 2010 reflects the favorable impact from the sale in the first quarter of 2010 of some products previously written down as slow moving. However, operating margins for the first quarter of fiscal 2011 improved to 16.9% from 15.8% reported in the fourth quarter of fiscal 2010, principally reflecting the increased sales volumes.
Net sales of our Electronic Technologies Group increased 28% in the first quarter of fiscal 2011 to $53.9 million, up from $42.1 million in the first quarter of fiscal 2010. The increase in net sales for the first quarter reflects additional revenues totaling approximately $7 million contributed by an acquisition completed after the first quarter of fiscal 2010 as well as organic growth approximating 12%. The organic growth in our Electronic Technologies Group principally reflects the continued strength in customer demand for certain of our defense and electronic products.
Operating income of the Electronic Technologies Group increased 39% to $15.5 million for the first quarter of fiscal 2011, up from $11.2 million for the first quarter of fiscal 2010, reflecting organic sales growth and the impact of the fiscal 2010 acquisition.Operating margins of the Electronic Technologies Group improved to 28.8% for the first quarter of fiscal 2011, up from 26.6% for the first quarter of fiscal 2010 principally as a result of a more favorable product sales mix. Our cash flow and balance sheet remain extremely strong. Cash flow from operating activities for the first quarter of fiscal 2011 totaled $23.5 million, representing 138% of net income, compared to $20.3 million for the first quarter of fiscal 2010. Capital expenditures were $1.6 million in the first quarter of 2011 compared to $2.2 million in the first quarter of 2010.
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