Aerosonic Corp (AIM, Financial) filed Annual Report for the period ended 2011-01-31.
Aerosonic Corp. has a market cap of $12.26 million; its shares were traded at around $3.27 with a P/E ratio of 6.67 and P/S ratio of 0.39.
We expended approximately $3,092,000 and $1,423,000 in both internally and externally funded research and development costs for potential new products and enhancements during the years ended January 31, 2011 and 2010, respectively. In fiscal year 2011, we continued our efforts on several externally funded research and development projects initiated in fiscal year 2010. During fiscal year 2010, we expended a significant portion of our engineering capacity to recover lost production and test capabilities from the August 2008 fire described below.
When appropriate, less critical component parts are purchased under short and long-term supply agreements. These purchased parts are normally standard parts that can be easily obtained from a variety of suppliers. This allows us to focus our attention on more critical component parts to maintain a level of quality control required to meet the exacting tolerances demanded within the aerospace industry and by our customers. On August 8, 2008, we suffered the destruction of one of our buildings comprising our Clearwater, Florida facility as a result of a fire. The building was primarily used for general storage and product testing, probe and sensor manufacturing, as well as for shipping and receiving. While our main operating facility was not damaged by the fire, our production was affected through loss of staged incoming raw materials inventory and outgoing finished goods. During the third quarter of fiscal year 2009 and the first quarter and second quarter of fiscal year 2010, our insurer extended advances to us totaling $2,600,000, $500,000 and $50,000, respectively. On February 4, 2010, we settled our claims against our insurance carrier and insurance broker in consideration of payment to us of $235,000. We applied portions of the insurance proceeds to replacing raw materials inventory and production assets lost in the fire and also retooled and reengineered production equipment in our unaffected main operating facility to accommodate lost production activities.
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Aerosonic Corp. has a market cap of $12.26 million; its shares were traded at around $3.27 with a P/E ratio of 6.67 and P/S ratio of 0.39.
Highlight of Business Operations:
At January 31, 2011, our backlog of firm orders was approximately $16.7 million, a decrease of approximately $3.4 million when compared to our backlog as of January 31, 2010. The amount of backlog that is deliverable within twelve months was approximately $14.1 million at January 31, 2011, an increase of approximately $3.1 million when compared to January 31, 2010. The foregoing backlog amounts represent firm production and development orders only and do not include current contract options. Such option orders, however, may be subject to rescheduling and/or cancellation. Backlog amounts include business generated through repair and spare parts orders.We expended approximately $3,092,000 and $1,423,000 in both internally and externally funded research and development costs for potential new products and enhancements during the years ended January 31, 2011 and 2010, respectively. In fiscal year 2011, we continued our efforts on several externally funded research and development projects initiated in fiscal year 2010. During fiscal year 2010, we expended a significant portion of our engineering capacity to recover lost production and test capabilities from the August 2008 fire described below.
When appropriate, less critical component parts are purchased under short and long-term supply agreements. These purchased parts are normally standard parts that can be easily obtained from a variety of suppliers. This allows us to focus our attention on more critical component parts to maintain a level of quality control required to meet the exacting tolerances demanded within the aerospace industry and by our customers. On August 8, 2008, we suffered the destruction of one of our buildings comprising our Clearwater, Florida facility as a result of a fire. The building was primarily used for general storage and product testing, probe and sensor manufacturing, as well as for shipping and receiving. While our main operating facility was not damaged by the fire, our production was affected through loss of staged incoming raw materials inventory and outgoing finished goods. During the third quarter of fiscal year 2009 and the first quarter and second quarter of fiscal year 2010, our insurer extended advances to us totaling $2,600,000, $500,000 and $50,000, respectively. On February 4, 2010, we settled our claims against our insurance carrier and insurance broker in consideration of payment to us of $235,000. We applied portions of the insurance proceeds to replacing raw materials inventory and production assets lost in the fire and also retooled and reengineered production equipment in our unaffected main operating facility to accommodate lost production activities.
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