This Day On The Street
Continue to site right-arrow
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!

Aeroflex Announces Fourth Quarter And Full Year Fiscal 2011 Results

Stocks in this article: ARX

Aeroflex Holding Corp. ("Aeroflex") (NYSE: ARX), a leading global provider of microelectronic components and test and measurement equipment, today announced its financial results for the fourth quarter and full year of fiscal 2011.

Net sales increased 4.7% from the fourth quarter of fiscal 2010 to a new quarterly record of $198.7 million. Sales from the AMS segment were strong, offsetting the weakness in the ATS business from products that did not ship. Non-GAAP operating income increased 11.2% from the fourth quarter of fiscal 2010 to $53.2 million, also a new quarterly record. Adjusted EBITDA also reached a new quarterly record of $57.9 million, a 10.5% increase from the fourth quarter of fiscal 2010.

Net sales, Non-GAAP operating income and Adjusted EBITDA also reached full fiscal year records as sales increased 11.4% to $729.4 million, Non-GAAP operating income increased 11.9% to $164.8 million and Adjusted EBITDA increased 10.6% to $183.7 million.

“Our annual performance was exceptional despite the disappointment with our ATS business in the fourth quarter,” said Len Borow, Chief Executive Officer. “We achieved double digit growth in sales, Non-GAAP operating income and Adjusted EBITDA in fiscal 2011. Fourth quarter gross margins were extremely strong and contributed to a 120 basis point improvement to 53.9% for the full year of fiscal 2011. This quarter, in a key growth market, we received the first significant order from a major global manufacturer of wireless infrastructure equipment for next generation LTE(A) products. This order demonstrates our ability to continue to innovate and develop key products that are essential for us to continue our market leadership into LTE(A). As we prepare to enter a challenging year due to the uncertainty in the U.S. Government budget and the world economy, we have rededicated ourselves to maintaining market leadership positions, building upon our product portfolio and strengthening our partnerships with customers.”

1 of 5

Select the service that is right for you!

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!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • 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