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Wed, Aug 20, 2003

BRS Raises Sales, Cuts Margins

Increase In SportPlane Market Surprising

Ballistic Recovery Systems just reported third quarter 2003 gross revenues of $1,836,535 versus $1,539,747 in the year-ago quarter, an increase of 19.3%.

Although there is a giant increase on the certified side of the business -- the nine-month period showed a 48.3% increase -- the real surprise, considering the market and the soft economy, came on the uncertified, or experimental, aircraft line.

The company's sport aviation business grew 41% from the year-ago quarter and 38% compared to the previous nine-month period.

Charge less, sell more:

Gross margin was 36.6% compared to 38.8% for the year-ago quarter. On a year-to-date basis gross margin was 37.3% compared to 38.6%. Most of the change in gross margin comes from price reductions offered to the company's largest customer, Cirrus Design of Duluth (MN).

FMI: http://brsparachutes.com/

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