Aeroflex Holding (FRA:1AX) Unearned Income

Aeroflex Holding Corp is a provider of radio frequency, or RF, and microwave integrated circuits, components and systems used in the design, development and maintenance of technically demanding, high-performance wireless communication systems. Its solutions include microelectronic components and test and measurement equipment used by companies in the: commercial wireless communications; space, avionics and defense; and medical and other markets. The products it manufactures include RF, microwave and millimeter wave microelectronic components , or HiRel, and radiation hardened, or RadHard, integrated circuits, or ICs, and analog and mixed-signal devices. It also manufactures RF and microwave wireless radio and avionics test equipment and solutions particularly for the wireless, avionics and radio test markets. The Company operates in the following segments: Aeroflex Microelectronic Solutions, or AMS, and Aeroflex Test Solutions, or ATS. AMS offers microelectronics products and is a provider of high-performance, high reliability specialty products for the commercial wireless communications and the space, avionics and defense and medical and other markets. ATS is a provider of specialized test and measurement hardware and software products, primarily for the commercial wireless communications and the space, avionics and defense markets. AMS addresses value-added specialty markets requiring application specific, custom engineered, high-performance microelectronic solutions. ATS addresses value-added specialty markets requiring application specific, custom engineered, high-performance testing solutions. Its operations are subject to various federal, state, local, and foreign environmental laws, ordinances and regulations that limit discharges into the environment, establish standards for the handling, generation, use, emission, release, discharge, treatment, storage and disposal of, or exposure to, hazardous materials, substances and waste, and require cleanup of contaminated soil and groundwater.