Annual General Meeting of Ballistic Recovery Systems, Inc. 2005 Shareholders
March 28 2005 - 2:36PM
PR Newswire (US)
Annual General Meeting of Ballistic Recovery Systems, Inc. 2005
Shareholders BRS President Praises Teamwork and Company's 25 Year
Commitment to Aviation Safety; Sets Goal to Double BRS's Value
Every Five Years! SOUTH ST. PAUL, Minn., March 28
/PRNewswire-FirstCall/ -- Ballistic Recovery Systems, Inc.
(OTC:BRSI) (BULLETIN BOARD: BRSI) ( http://www.brsparachutes.com/
), President & COO Larry E. Williams told shareholders gathered
at their annual meeting that the whole-airplane parachute company
was pleased to announce BRS had a profitable year, then pledged
that BRS will continue to achieve great things, building on their
long and proud legacy. "Overall the outlook is very bright," stated
Williams. BRS is commemorating its 25th year in business in 2005.
The aviation safety company has been credited with saving the lives
of 177 people. In his address to shareholders on March 17th,
Williams said the economic outlook is good and getting brighter. He
cited first quarter sales results in 2004 as an example of
significant financial growth. "In the face of continuing
challenging conditions, we reported improved sales up 25.3%," said
Williams. The company's top executive went on to predict, "We are
confident that, with maximizing value as our governing objective,
we strive to a level of financial performance and profitable growth
that will exceed investors' expectations." The BRS President also
stated he is setting a goal of doubling BRS value every five years.
One of the primary goals Williams laid out for shareholders were
strategies aimed to maximize value in the marketplace. "Maximizing
value is our governing objective. We use value impact as our basis
for setting priorities and value as our basis for choosing between
alternatives. Maximizing value is the way to maximize resources.
Not only is it essential to satisfy the responsibilities we have to
you, our owners, but it is also the source for decision-making
regarding our use of resources enabling our long- term business
success," Williams explained. In the company's 25-year history, BRS
has delivered nearly 20,000 of its whole-plane parachute systems to
aircraft owners around the world, including over 1,900 systems on
certified aircraft like the Cirrus Design aircraft manufactured in
Duluth, Minnesota. Williams announced BRS will be named the
recipient of Aviation Week's magazine Laureate Award as the top
Business and General Aviation Company for 2004. BRS will be honored
for its ongoing research and development programs to equip ultra
lights and light airplanes with emergency parachute systems for the
specific purpose of saving lives. The prestigious national award
will be presented at a gala in Washington DC, April 5th. BRS CEO
& Chairman of the Board Bob Nelson and company founder Boris
Popov will be honored and will represent BRS at the event. The
entire text of President & COO Larry E. Williams address to BRS
shareholders can be read on-line on the BRS website:
http://www.brsparachutes.com/ . 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 or Robb Leer media liaison at 953-842-8133 ( )
DATASOURCE: Ballistic Recovery Systems, Inc. CONTACT: Robb Leer,
+1-612-701-0608, or Larry E. Williams of Ballistic Recovery
Systems, Inc., (BRS), +1-651-457-7491 or Web site:
http://www.brsparachutes.com/
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