BRSI Ballistic Recovery Systems Inc (CE)

Ballistic Recovery Systems, the world�s leading manufacturer of whole-aircraft parachute systems, today announced year-to-date revenue growth through the first two fiscal quarters of FY08 over the same period last fiscal year. From October 1, 2007 through March 31, 2008, BRS�s overall sales have grown 16.6% over last year�s first two quarters. This increase includes revenues from the ATF joint venture which closed in November 2007. Alone, BRS product line sales have grown 2.4%. �These numbers are highly significant in light of not only the overall state of the US economy, but specifically this year�s downturn in single engine piston sales for the General Aviation industry,� says BRS CEO and President, Larry Williams. �Our sales have grown while much of the rest of the GA industry is contracting; we are most pleased. It also shows that our strategy of diversification, via formation of the ATF joint venture, is proving itself to be very sound,� Mr. Williams added. �I am very proud of our sales team as they spread the word of how effective our parachute recovery and other safety systems truly are,� said Vice President of Sales & Marketing, Gary Moore. BRS is also conducting a search for a new Chief Financial Officer as former CFO, Carl Langr, decided to resign his position within the Company and work as an independent BRS consultant for the near term. Part of his work, along with other consultants, is to finalize the Fiscal Year 2008 Q1 and Q2 financials which are currently expected to be released by June 30th, although the company is aggressive in its efforts to accelerate that date. While the Company is anticipating that it will report a loss for the first quarter of 2008, management believes the second quarter will be at least at a break even. �We are most anxious to have our financial house certified as fully compliant, which will occur in the next couple of weeks,� Mr. Williams said. �We are being very methodical in our approach and are releasing results only after we, our consultants, and our external auditors, are satisfied that they reflect the true state of our business.� The major cause of the delay is a continued issue with the enterprise resource software. �We are still experiencing aberrations where system generated reports are not accurately reflecting activity tied to inventory,� according to David Blanchard, BRS General Manager. Blanchard added, �We have found sufficient ways to tie inventory to the general ledger, but it�s been time consuming.� BRS also reported the Company is in the later stages of replacing the current ERP system and has defined new system specifications. BRS will be conducting demos of replacement systems this month before a final contract is awarded. The Company anticipates that the full system should be in place by the end of the year. About Ballistic Recovery Systems and Advanced Tactical Fabrication Based in South Saint Paul, Minnesota, BRS designs, manufactures, and distributes whole-aircraft emergency parachute systems for general aviation and recreational aircraft. ATF (or Advanced Tactical Fabrication), a joint venture of BRS and Head Lites Corp (HLC), is a leader in the safety apparel and �cut & sew� industry. Ballistic Recovery Systems is a publicly traded company (BRSI.PK). Since 1981, BRS has delivered more than 29,000 parachute systems to aircraft owners worldwide, including over 3,500 systems on FAA-certificated aircraft such as the Cirrus Design SR20 and SR22 manufactured in Duluth, Minnesota. To date, BRS parachute recovery systems have been credited with saving the lives of 213 pilots and passengers This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are often, but not always, made through the use of words such as �anticipates,� �expects,� �plans,� �believes,� �intends,� and other similar words or phrases. These statements are only predictions, and are based on current information and expectations. Such statements involve a number of risks and uncertainties, including the timing of the Company are filing its Form 10-QSBs, the reported revenue and net income (loss) numbers that will be reported in such filings, the Company�s ability to maintain its sales growth rate and the Company�s ability to engage a full-time Chief Financial Officer on a timely basis. In addition, there are certain other risks and uncertainties such as market fluctuations, pricing, procurement, manufacturing efficiencies, operating risks, 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. All forward-looking statements are qualified in their entirety by this cautionary statement, and BRS undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof.