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Aerosonic Reports Third Quarter Results

Aerosonic Corporation (NYSE Amex: AIM), a leading supplier of precision flight products for commercial, business and military aircraft, announced that today it filed its Quarterly Report on Form 10-Q for the three and nine-months ended October 28, 2011, with the United States Securities and Exchange Commission.

      Three Months Ended     Nine Months Ended
(Unaudited) (Unaudited)
October 28, 2011   October 29, 2010 October 28, 2011   October 29, 2010
 

Sales, net

$ 7,320,000 $ 7,049,000 $ 20,450,000 $ 20,793,000

Operating income (loss)

$ 336,000 $ 345,000 $ (267,000 ) $ 1,024,000

Net income (loss)

$ 146,000 $ 93,000 $

(338,000

)

$ 370,000

Basic earnings (loss) per share

$ 0.04 $ 0.02 $ (0.09 ) $ 0.10

Diluted earnings (loss) per share

$ 0.04 $ 0.02 $ (0.09 ) $ 0.09
 

Net sales for the third quarter of fiscal year 2012 increased $271,000, or 3.8%, to $7,320,000 when compared to $7,049,000 for the third quarter of fiscal year 2011. During the third quarter of fiscal year 2012, the sales volume increased from the prior year on sales of development services and sensor products, partially offset by decreased sales of mechanical products, spares, and repairs. Net sales for the nine months ended October 28, 2011 decreased $343,000, or 1.6%, to $20,450,000 when compared to $20,793,000 for the nine months ended October 29, 2010. During the nine months of fiscal year 2012, the sales volume decreased from the prior year by approximately $1.8 million on reduced sales of mechanical instruments and sensor products, partially offset by approximately $1.5 million of increased sales volume of repairs and development services, contributing to the net decrease of $0.3 million. Our revenues continue to be impacted by the ongoing recession in the business jet and general aviation markets, partly offset by new production wins in our defense and trainer segments.

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