Ballistic Recovery Systems (BRS) Releases First Quarter 2006 Results
February 15 2006 - 2:31AM
PR Newswire (US)
SOUTH ST. PAUL, Minn., Feb. 15 /PRNewswire-FirstCall/ -- Ballistic
Recovery Systems, Inc. (OTC:BRSI) (BULLETIN BOARD: BRSI)
(http://brsparachutes.com/), a manufacturer of whole-airplane
parachute recovery systems for general aviation and recreational
aircraft, reported its earnings for the fiscal quarter ended
December 31, 2005. The Company reported an increase of revenue of
2.2 percent (to $1,906,874 from $1,866,623 in the same period a
year earlier). Net income for the quarter ended December 31, 2005
was $(33,735), down from $51,855 a year earlier. BRS officials said
that income declined in the current quarter due to costs associated
with the start up operations in Mexico. "We are pleased by the
level of continued growth in revenue we have achieved in both our
business lines, as well as our ability to efficiently manage
operating expenses. We have been able to make a significant
investment in our Mexican facility during the first quarter, and
will now begin realizing substantial cost savings going forward,"
said Donald R. Hedquist, BRS's Chief Financial Officer. BRS is a
South St. Paul, Minn., based company that designs, manufactures and
distributes whole-plane emergency parachute systems for use on
general aviation and recreational aircraft. Since the early 1980's,
BRS has delivered more than 21,000 parachute systems to aircraft
owners around the world including over 2,300 systems on certified
aircraft like the Cirrus Design aircraft manufactured in Duluth,
Minnesota. The forward looking matters discussed here should be
considered subject to risks and uncertainties, including market
fluctuations, pricing, procurement, manufacturing efficiencies, and
other risks that could cause the actual results to differ
materially from those projected. For more information, review the
company's filings with the Securities and Exchange Commission,
particularly the Company's annual report on Form 10-KSB. For more
information on BRS contact: Larry E. Williams; BRS, Inc: Fleming
Field, 300 Airport Road; South St. Paul, MN 55075;USA ( ) TEL
651.457.7491 ; FAX 651.457.8651 First Call Analyst: FCMN Contact:
jgilmore@brsparchutes.com DATASOURCE: Ballistic Recovery Systems,
Inc. CONTACT: John Gilmore, or Larry E. Williams, , both of
Ballistic Recovery Systems, Inc., BRS, +1-651-457-7491 Web site:
http://www.brsparachutes.com/
Copyright