BRS Releases Second Quarter 2004 Results
May 13 2004 - 5:41PM
PR Newswire (US)
BRS Releases Second Quarter 2004 Results SOUTH ST. PAUL, Minn., May
13 /PRNewswire-FirstCall/ -- Ballistic Recovery Systems, Inc.
(BULLETIN BOARD: BRSI) ( BRSparachutes.com ) reported net income of
$95,628 in the second quarter on sales of $1,483,478 compared to
net income of $179,777 on sales of $1,763,912 in the prior fiscal
year second quarter. For the first six months of fiscal year 2004,
the Company reported net income of $152,106 on sales of $2,973,443
compared to net income of $258,423 on sales of $3,283,141 for the
first six months of fiscal year 2003. CEO Mark Thomas said, "Sales
are strong for the Company's general aviation products with a solid
order back log. Cirrus Design, which produces the Cirrus SRV, SR20,
SR22 and SR22-G2 aircraft models, installs the BRS system in all of
their aircraft." Thomas continues, "In April, we were notified of
two parachute deployments in Cirrus aircraft that resulted in the
saving of 5 lives, and one additional parachute deployment over the
jungles of Chile in an ultralight that saved another pilot. This
brings the total number of documented saves for BRS to 166 for our
entire line of products. Improving aviation safety is the prime
objective of BRS and saving lives is our most gratifying
accomplishment." The Company is completing certification testing on
a parachute system for the Cessna 182 model of aircraft, and
certification is anticipated before the end of the fiscal year. The
Company has already completed a substantial portion of the testing.
This will represent the seventh general aviation model to be
certified for the Company's parachute systems. 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 1500
systems on certified aircraft like the Cirrus. Actual documented
uses of these systems are credited with saving the lives of 166
people. 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 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. DATASOURCE: Ballistic Recovery Systems, Inc. CONTACT:
Mark Thomas of Ballistic Recovery Systems, Inc., +1-651-457-7491
Web site: http://www.brsparachutes.com/
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