Aerosonic Announces Increase In New Orders Including Multi-Year Altimeter Order From The Defense Logistics Agency
Aerosonic Corporation (NYSE AMEX:AIM), a leading supplier of precision flight instruments for commercial, business and military aircraft, today announced that it has received a new contract award from the Defense Logistics Agency with a total potential value of $15.4 million. The contract is to supply AAU/31A Altimeters in support of the US Army Aviation Command. The order includes an initial delivery requirement valued at $3.5 million followed by options over the next two years. Deliveries will begin immediately on the initial delivery requirement.
In addition to this recently awarded contract to supply AAU/31A Altimeters, the Company also received new orders during the third quarter totaling $17.4 million, not including options. These orders are expected to be delivered over the next three years and includes products and services for both domestic and international programs.
“The company has won a number of development and production contracts in recent months, a testimony to the hard work of the team and the increasing value we provide to our customers,” noted Doug Hillman, President and CEO.
Aerosonic Corporation, headquartered in Clearwater, Florida, is principally engaged in the manufacture of aviation products. For additional information, visit the Company's website at www.aerosonic.com.This document contains statements that constitute "forward-looking" statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. "Forward-looking" statements contained in this document include the intent, belief or current expectations of the Company and its senior management team with respect to future actions by officers and directors of the Company, prospects of the Company's operations, profits from future operations, overall future business prospects and long term stockholder value, as well as the assumptions upon which such statements are based. Investors are cautioned that any such forward-looking statements are not guarantees of future performance, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors that could cause actual results to differ materially from those contemplated by the forward-looking statements in this document include, but are not limited to, adverse developments involving operations of the Company's business units, failure to meet operating objectives or to execute the business plan, and the failure to reach revenue or profit projections. The Company undertakes no obligation to update or revise the forward-looking statements contained in this document to reflect changed assumptions, the occurrence of unanticipated events, or changes to future operating results over time.
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