BRS Announces Second Quarter Results: Revenues and Net Income Again Rise Sharply
SOUTH ST. PAUL, Minn., May 8 /PRNewswire/ –
BRS, Inc. (OTC Bulletin Board: BRSI or BRSI.OB) sales for the first six months of fiscal year 2001 reached $1,737,286, an increase of $746,084 or 75.2% from the six-month period a year ago. The half-year increase continues as the company experiences sales growth of its emergency parachute system for use on general aviation business and personal aircraft.
Sales in the second quarter sustained the trend from the company’s first quarter when revenues were up 73% over the year-earlier period. Net income for the six month interval was $133,747 or $0.02 per share, a swing from a year-earlier net loss through six months of $53,788 or ($0.01) per share on a fully diluted basis. Gross margin rose again to 35% from 34% in the first half of fiscal year 2000.
President and CEO Mark Thomas said, “We’re still on track to substantially exceed $3 million in sales this year.” He further indicated that BRS, Inc. should log a second record-setting year in a row beating the fiscal year 2000 high of $2.35 million in revenues. The majority of revenue growth is driven by deliveries to Cirrus Design which supplies BRS parachute systems as standard equipment in their very popular SR20 and SR22 light aircraft. The Duluth-based aircraft builder has a backlog of over 630 aircraft, all to be delivered with parachutes.
Research continues for development of an emergency parachute system for the Cessna 172, the most popular aircraft ever built with nearly 30,000 units flying in the USA. First deliveries are forecast during calendar 2001.
BRS, Inc. sales to recreational aircraft in international markets saw positive developments as company marketers met with several top builders at spring trade shows in the European Union. BRS remains the only manufacturer of emergency parachute recovery systems in the world’s largest aviation market here in the USA.
Based in South St. Paul, Minn., BRS, Inc. designs, manufactures, and markets unique and proprietary ballistic parachute systems that lower aircraft to the ground in the event of an in-flight emergency. Through 20 years in business the company has delivered over 15,000 parachute systems for use on certified and recreational aircraft. Actual documented uses of these systems are credited with saving the lives of 134 persons through the end of April 2001. Further information is available on the company’s web site at http://www.BRSparachutes.com