BRS Revenues Continue Strong; First Quarter 2004 Results SOUTH ST. PAUL, Minn., Feb. 13 /PRNewswire-FirstCall/ -- Ballistic Recovery Systems, Inc. (BULLETIN BOARD: BRSI) ( BRSparachutes.com ) reported gross revenues for the first quarter of fiscalyear 2004 of $1,489,965 versus $1,519,229 in the year-ago period. The results compare to an all-time record first quarter in fiscal year 2003, which was a 93% increase over 2002. The Company recorded a reduction in sales of $35,000 for the first quarter of fiscal year 2004, which was attributed to an adjustment for stock based compensation relating to the Cirrus Design stock purchase warrants. Income before taxes was $118,119 compared to $148,057 in the year-earlier period. Net income after taxeswas $56,478 compared to $78,646 in the year- earlier first quarter. These earnings calculate to $0.01 per share for both periods. CEO Mark Thomas said, "We are delighted to follow last year's record pace with a strong performance for the first quarter of fiscal 2004. Although slightly behind the record 2003 first quarter results, it still represents a 90% increase over the first quarter 2002 performance." Thomas further added, "The Company believes that the strong first quarter numbers indicate that 2004, like 2003, will show continued strong growth in revenue and market share." BRS also reported that work to certify a parachute system for Cessna's 182 Skylane is proceeding in line with expectations. "This very popular model represents another sizable market for the company's emergency parachutes," said new vice president of sales, John Gilmore. BRS designs, manufactures and distributes whole-aircraft emergency parachute systems for use on general aviation and recreational aircraft. Since the early 1980s BRS has delivered over 18,000 parachute systems to aircraft owners around the world including over 1,200 systems on certified aircraft. Actual documented uses of these systems are credited with saving the lives of 159 persons through December 2003. The matters discussed here may be considered forward-looking statements which may be subject to risks and uncertainties, including market fluctuations, pricing, procurement, manufacturing efficiencies, and other risks, that could cause theactual 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. Ballistic Recovery Systems, Inc. Financial Data FY2004 1st Quarter Results, Unaudited Three Months Ended December 31, 2003 2002 Sales $1,489,965 $1,519,229 Cost of sales 960,826 951,811 Gross profit 529,139 567,418 Selling, general and administrative 351,947 278,446 Research and development 48,528 125,559 Income from operations 128,664 163,413 Other expense 10,545 15,356 Pre-tax income 118,119 148,057 Income tax expense 61,641 69,411 Net income 56,478 78,646 Earnings per share: Basic $0.01 $0.01 Diluted $0.01 $0.01 Weighted average number of shares outstanding: Basic 6,248,929 6,209,736 Diluted 6,407,680 6,340,857 Dividends per common share $0.06 $0.00 BALANCE SHEETS December 31, September 30, 2003 2003 Current assets $2,031,770 $2,481,701 Furniture, fixtures and leasehold improvements, net 295,375 260,540 Other assets 143,401 159,319 Total assets $2,470,546 $2,901,560 Current liabilities $445,421 $581,746 Covenant not to compete, less current portions 38,400 49,254 Shareholders' equity 1,986,725 2,270,560 Total liabilities and shareholders' equity $2,470,546 $2,901,560 DATASOURCE: Ballistic Recovery Systems, Inc. CONTACT: Mark B. Thomas, President & CEO, +1-651-457-7491, or Media, Dan Johnson, +1-651-450-0930, both of Ballistic Recovery Systems, Inc. Web site: http://www.brsparachutes.com/

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