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2006 PRESS RELEASES

 

March 28, 2006
Aerosonic Announces Record Results for Fiscal Year 2006

CLEARWATER, Fla. -- March 28, 2006 -- Aerosonic Corporation (AMEX:AIM), a leading supplier of precision flight products for commercial, business and military aircraft, announced today that it has reported record revenues and earnings for the year ended January 31, 2006. Aerosonic also confirmed the filing of its Annual Report on Form 10-K with the U.S. Securities and Exchange Commission today.

For its fiscal year ended January 31, 2006, the Company reported record revenues of $34.8 million, up 13% when compared to revenues of
$30.7 million for the fiscal year ended January 31, 2005. The Company's continuing focus on its traditional lines of business resulted in further increases in revenues for core instruments and electronics that drove revenue increases across all major product lines.

The Company also reported record net earnings of $2.6 million, or $0.65 per share for the fiscal year ended January 31, 2006, an increase of $1.1 million from approximately $1.5 million, or $0.39 per share, for the year ended January 31, 2005. The substantial increase in revenues, driven by improvements in operating efficiencies, resulted in significant gross margin improvements, while selling, general and administrative expenses were substantially unchanged. Stockholders' equity on January 31, 2006 was $13.1 million in contrast to stockholders' equity of $10.5 million at January 31, 2005.

"We are pleased to have delivered record operating results for the year just ended," stated David Baldini, Aerosonic's Chairman, President and Chief Executive Officer. "Our continuing growth in revenue and profitability will keep us well-positioned to capitalize on future opportunities within this dynamic marketplace. Industry forecasts reflect growth across nearly every aircraft type for the next ten years. We are fully focused on the development of products and markets that are essential to gaining market share, meeting our growth objectives and building long term shareholder value."

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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