But Gains Offset By Long-Term Debt

Whole-airplane parachute recovery system manufacturer Ballistic Recovery Systems, Inc. told Aero-News this week its earnings for the most recent fiscal quarter saw an increase in revenue of 24.7 percent -- to $2,633,976, up from $2,112,091 in the same period a year earlier.

While BRS officials said income from operations was higher, however, the increase was largely offset by interest costs associated with long-term debt. Net income for the quarter was $40,122, compared to $41,769 one year earlier.

"We are pleased by the continued growth in revenue and our ability to execute our strategy to increase sales and lower cost of operations," said BRS Chief Financial Officer Don Hedquist. "One strategy is to use lower cost international operations and effectively leverage our base of labor where appropriate. Sales activity has generated interest in the existing product line while we strengthen BRS' engineering focus on new product development. We've created additional long-term value for our investors through these actions."

BRS President Larry Williams said business continues to grow for the parachute manufacturer.

"BRS continues to achieve steady revenue growth as we expand our presence in existing markets, win new business like the D-Jet, and achieve modernization where applicable to provide high-quality products," said Williams. "In the third quarter, we generated a 43% increase in recreational sales over the same period last year due to the strength of our international business and product reputation. We are pleased to expand our market share and increase our net revenue while remaining continuing to successfully manage expenses."

Based in South St. Paul, MN BRS designs, manufactures and distributes whole-plane emergency parachute systems for use on general aviation and recreational aircraft. Since the early 1980's, BRS has delivered more than 22,000 parachute systems to aircraft owners around the world including over 2,800 systems on certified aircraft like the Cirrus SR-series.

FMI: www.brsparachutes.com