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2006 PRESS RELEASES

 

March 20, 2006
Aerosonic Announces Repurchase of Shares

CLEARWATER, Fla. -- March 20, 2006 -- Aerosonic Corporation (AMEX:AIM), a leading supplier of precision flight products for commercial, business and military aircraft, announced today that it has repurchased 365,524 shares of its common stock from First Commercial Bank, for a total purchase price of $2,467,287 in cash. The repurchased shares represented approximately 9.31% of Company's 3,927,358 outstanding shares and were repurchased at a price of $6.75 per share.

As a condition to the closing of this transaction, First Commercial also consummated a transaction with certain unaffiliated investors for the purchase of its remaining 731,048 shares of the Company's common stock.

"This is truly a win/win situation. While assisting an institution that had been our largest shareholder, we have increased shareholder value for our remaining investors. Continuing improvement in our operating performance has allowed us to fund this transaction without incurring additional debt," stated David Baldini, Chairman, President and Chief Executive Officer.

Aerosonic Corporation, headquartered in Clearwater, Florida, is principally engaged in the manufacture of aviation products. Locations of the Company include Clearwater, Florida, Charlottesville, Virginia and Wichita, Kansas. 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 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 currently known to management 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 with respect to the resolution of current stockholder litigation, 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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