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Aerosonic Reports Second 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 six months ended July 27, 2012 and July 29, 2011, respectively, with the United States Securities and Exchange Commission.

  Three Months Ended   Six Months Ended
(Unaudited) (Unaudited)
July 27, 2012   July 29, 2011 July 27, 2012   July 29, 2011
 
Sales, net $ 7,472,000 $ 6,421,000 $ 14,833,000 $ 13,130,000
Operating (loss) income $ (161,000 ) $ (221,000 ) $ 560,000 $ (603,000 )
Net (loss) income $ (138,000 ) $ (167,000 ) $ 276,000 $ (484,000 )
Basic (loss) earnings per share $ (0.04 ) $ (0.04 ) $ 0.07 $ (0.13 )
Diluted (loss) earnings per share $ (0.04 ) $ (0.04 ) $ 0.07 $ (0.13 )
 

Net sales for the second quarter of fiscal year 2013 increased $1,051,000, or 16.4%, to $7,472,000 when compared to $6,421,000 for the second quarter of fiscal year 2012. During the second quarter of fiscal year 2013, the net sales increased from the prior year on sales of mechanical products, sensors, and repairs, partially offset by decreased sales of development services, while sales of spares were comparable. Net sales for the six months ended July 27, 2012 increased $1,703,000, or 13.0%, to $14,833,000 when compared to $13,130,000 for the six months ended July 29, 2011. During the first six months of fiscal year 2013, the net sales increased from the first six months of the prior fiscal year across all product groups including mechanical products, sensors, spares, repairs, and development services. Our net sales continue to be impacted by the ongoing recession in the business jet and general aviation markets.

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