Aerosonic Corp (AIM, Financial) filed Annual Report for the period ended 2010-01-31.
Aerosonic Corp has a market cap of $14.69 million; its shares were traded at around $3.94 with a P/E ratio of 4.1 and P/S ratio of 0.47.
At January 31, 2010, our backlog of firm orders was approximately $20.1 million, a decrease of approximately $4.7 million when compared to our backlog as of January 31, 2009. The backlog as of January 31, 2009 was high due to the Companys inability to ship products after the August 8, 2008 fire. The backlog as of January 31, 2010 was more typical of recent years. The amount of backlog that is deliverable within twelve months was approximately $17.2 million at January 31, 2010, an increase of approximately $2.0 million when compared to January 31, 2009. 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 also do not include business generated through repair and spare parts orders.
We expended approximately $1,423,000 and $618,000 in both internally and externally funded research and development costs for potential new products and enhancements during the years ended January 31, 2010 and 2009, respectively. The increase in research and development costs in fiscal year 2010 when compared to fiscal year 2009 is due to several externally funded research and development projects initiated in fiscal year 2010. During fiscal year 2010, the Company also expended a significant portion of its engineering capacity towards the recovery of lost production and test capabilities resulting from the August 8, 2008 fire.
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Aerosonic Corp has a market cap of $14.69 million; its shares were traded at around $3.94 with a P/E ratio of 4.1 and P/S ratio of 0.47.
Highlight of Business Operations:
On August 8, 2008, the Company suffered the destruction of one of the buildings comprising its Clearwater, Florida facility as a result of a fire. The building was primarily used for general storage and product testing, probes and sensor manufacturing, as well as for shipping and receiving. While the Companys main operating facility was not damaged by the fire, 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, the Companys insurer extended advances to the Company totaling $2,600,000, $500,000 and $50,000, respectively. Portions of the insurance proceeds were applied towards replacement of raw materials inventory and production assets lost in the fire, as well as retooling and reengineering of production equipment in the unaffected main operating facility that were necessary to accommodate the loss of production activities within the destroyed building.At January 31, 2010, our backlog of firm orders was approximately $20.1 million, a decrease of approximately $4.7 million when compared to our backlog as of January 31, 2009. The backlog as of January 31, 2009 was high due to the Companys inability to ship products after the August 8, 2008 fire. The backlog as of January 31, 2010 was more typical of recent years. The amount of backlog that is deliverable within twelve months was approximately $17.2 million at January 31, 2010, an increase of approximately $2.0 million when compared to January 31, 2009. 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 also do not include business generated through repair and spare parts orders.
We expended approximately $1,423,000 and $618,000 in both internally and externally funded research and development costs for potential new products and enhancements during the years ended January 31, 2010 and 2009, respectively. The increase in research and development costs in fiscal year 2010 when compared to fiscal year 2009 is due to several externally funded research and development projects initiated in fiscal year 2010. During fiscal year 2010, the Company also expended a significant portion of its engineering capacity towards the recovery of lost production and test capabilities resulting from the August 8, 2008 fire.
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