This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

LMI Aerospace Announces Results For The Fourth Quarter And Full-Year 2010

Stocks in this article: LMIA

Net sales for the Engineering Services segment for the fourth quarters of 2010 and 2009 were as follows:

Category Q4 2010 % of Total Q4 2009 % of Total
  ($ in millions)
Corporate and regional aircraft $5.5 28.4% $3.6 20.1%
Large commercial aircraft 7.2 37.1% 6.1 34.1%
Military 3.6 18.6% 8.0 44.7%
Other 3.1 15.9% 0.2 1.1%
Total $19.4 100.0% $17.9 100.0%

New work on a weight improvement program for a new corporate jet drove net sales for corporate and regional aircraft higher. Net sales of engineering support for large commercial aircraft grew on the 787-9 and A350, more than offsetting a decline in 747-8 billings, as the design for that plane matures. Military programs were down from the prior year, as efforts on the CH-53 helicopter ended earlier in 2010. Other sales grew due to tooling packages for the 787-9 and the Global Hawk.

Gross profit for the fourth quarter of 2010 was $11.9 million, or 21.8 percent of net sales, compared to $12.7 million, or 22.8 percent of net sales, in the prior year quarter. The Aerostructures segment generated gross profit of $8.7 million, or 24.6 percent of net sales, in the fourth quarter of 2010 versus $9.0 million, or 23.7 percent of net sales, in the fourth quarter of 2009. Fourth quarter 2010 Aerostructures segment gross margin was helped by a $0.4 million cumulative benefit on our aftermarket wing modification program but was reduced by $0.7 million of start up costs on two programs and higher than expected workers compensation costs. 

3 of 6

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs