Ballistic Recovery Systems (BRS) to Boost Research Expenditures on Next Generation Parachute Development
20 September 2006 - 11:19AM
Business Wire
Ballistic Recovery Systems, Inc. (OTCBB:BRSI or
BRSI.OB)(BRSparachutes.com), a manufacturer of whole-airplane
parachute recovery systems for general aviation and recreational
aircraft, announced a percentage of overall revenues will be
invested in parachute canopy design research and technology to
enhance the capability and safety of next generation systems. The
BRS board recently elected to fund an internal Research &
Development program that will be modeled after the company's
recently completed NASA contract. BRS Board Chairman Bob Nelson
said, "We believe this investment in cutting edge materials, shapes
and construction techniques will allow us to continue to provide
future products to meet advanced customer needs. The market's
rapidly growing acceptance of whole airplane - and now including
jet - parachute systems is demanding even greater performance from
our already highly reliable systems, and this investment will
provide necessary funding. We're willing to make this investment as
we expect our gross margin percentage to continue its positive
trend along with the top line revenue growth. If it were to mean
accepting more modest profits in the short term to achieve this
goal, we believe the effect on future business wins could be
substantial." BRS Founder Boris Popov said, "A very important goal
of this project is to allow us to use dedicated resources aimed at
a specific development project that has a bit of a longer time
horizon. I've always been committed to innovative thinking, and
this novel method of funding allows for greater experimentation and
technological creativity." "While the rest of BRS is dedicated to
the modern lean methods of delivering just-in-time products to OEM
customers, this new funding investment allows us to take defined
risks on projects that can have the potential to expand OEM
business while expanding our business into new commercial and
military applications that we are currently aggressively pursuing,"
Williams added. 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 1981, BRS has delivered more than 23,000 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. To date, BRS parachute recovery
systems have been credited with saving the lives of 194 pilots and
passengers. 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
Ballistic Recovery Systems (CE) (USOTC:BRSI)
Historical Stock Chart
From Jul 2024 to Jul 2024
Ballistic Recovery Systems (CE) (USOTC:BRSI)
Historical Stock Chart
From Jul 2023 to Jul 2024
Real-Time news about Ballistic Recovery Systems Inc (CE) (OTCMarkets): 0 recent articles
More Ballistic Recovery Systems, Inc. News Articles