Ballistic Recovery Systems (BRS) Releases Third Quarter 2006 Results
15 August 2006 - 5:21AM
Business Wire
Ballistic Recovery Systems, Inc. (OTCBB:BRSI)(BRSparachutes.com), a
manufacturer of whole-airplane parachute recovery systems for
general aviation and recreational aircraft, reported its earnings
for the fiscal quarter ended June 30, 2006. BRS reported an
increase in revenue of 24.7% to $2,633,976 up from $2,112,091 in
the same period a year earlier. BRS officials said income from
operations was higher, but that the increase was largely offset by
interest costs associated with long-term debt. Net income for the
quarter was $40,122, compared to $41,769 one year earlier. BRS CFO
Don Hedquist said, "We are pleased by the continued growth in
revenue and our ability to execute our strategy to increase sales
and lower cost of operations. One strategy is to use lower cost
international operations and effectively leverage our base of labor
where appropriate. Sales activity has generated interest in the
existing product line while we strengthen BRS' engineering focus on
new product development. We've created additional long-term value
for our investors through these actions." "BRS continues to achieve
steady revenue growth as we expand our presence in existing
markets, win new business like the D-Jet, and achieve modernization
where applicable to provide high-quality products," said Larry E.
Williams, BRS President and CEO. "In the third quarter, we
generated a 43% increase in recreational sales over the same period
last year due to the strength of our international business and
product reputation. We are pleased to expand our market share and
increase our net revenue while remaining continuing to successfully
manage expenses." BRS is a South St. Paul, Minnesota, based company
that designs, manufactures and distributes whole-plane emergency
parachute systems for use on general aviation and recreational
aircraft. Since the early 1980's, BRS has delivered more than
22,000 parachute systems to aircraft owners around the world
including over 2,800 systems on certified aircraft like the Cirrus
Design aircraft manufactured in Duluth, Minnesota. The forward
looking matters discussed here should be considered subject to
risks and uncertainties, including market fluctuations, pricing,
procurement, manufacturing efficiencies, and other risks that could
cause the actual results to differ materially from those projected.
For more information, review the company's filings with the
Securities and Exchange Commission, particularly the Company's
annual report on Form 10-KSB. For more information on BRS contact:
Larry E. Williams; BRS, Inc: Fleming Field, 300 Airport Road; South
St. Paul, MN 55075; USA (LarryWilliams@BRSparachutes.com) TEL
651.457.7491 ; FAX 651.457.8651
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