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
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Breeze-Eastern Reports Record Fiscal 2012 First Quarter Sales

Breeze-Eastern Corporation (NYSE Amex: BZC) today reported its Fiscal 2012 First Quarter financial results.

  • Net sales: $18.2 million, a new record for First Quarter sales - up 10% over $16.5 million for the Fiscal 2011 First Quarter.
  • Net income: $0.6 million, or $0.06 per diluted share, equal to the Fiscal 2011 First Quarter.Adjusted EBITDA, as described under “Non-GAAP Financial Measures” in this press release: $1.6 million, versus $2.0 million in the Fiscal 2011 First Quarter.
  • Current debt: zero
  • Long-term debt (total): $10.7 million, $0.8 million lower than three months ago, and $6.6 million lower than a year ago.Cash: $10.5 million, versus $2.4 million a year ago.
  • Bookings: $13.6 million, versus $19.7 million in Fiscal 2011 First Quarter. The book-to-bill ratio for the Fiscal 2012 First Quarter was 0.7.

Mike Harlan, President and Chief Executive Officer, said, "We are pleased to have started our Fiscal year with record First Quarter sales and continued strong cash flow. We continued to accelerate debt principal pre-payments during the quarter, and, after subtracting cash, our net debt was down to $0.2 million."

Outlook

Mr. Harlan continued, “We are getting to the final stages for several major development programs; we completed final qualification testing for the C-27J Cargo Winch last quarter and will be providing initial qualified products for the CH-53K, AW-159, and A400M later this Fiscal year. Bookings in the First Quarter were less than expected due to a variety of delays, but we still expect to get more orders than shipments by the end of our Fiscal year. We expect our Fiscal Second Quarter sales to be stronger than the Fiscal 2011 Second Quarter and stronger than our Fiscal 2012 First Quarter. Our projected cash flow is still very strong."

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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!
SYM TRADE IT LAST %CHG

Markets

DOW 18,214.42 -10.15 -0.06%
S&P 500 2,110.74 -3.12 -0.15%
NASDAQ 4,987.89 +20.7530 0.42%

Partners Compare Online Brokers

Free Reports

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