CLEARWATER, Fla. -- Aerosonic Corporation (AMEX:AIM), a leading supplier of precision flight products for commercial, business and military aircraft, and Mid-Continent Instruments, a leader in General Aviation instrumentation and worldwide distribution and support, announced today that the companies
"This package is aimed at the General Aviation market, which includes light jets, turboprops and twin or single engine piston aircraft. Manufacturers in this segment of our industry need a simple and affordable solution for their standby instrument requirements," stated Todd Winter, Mid-Continent's President.
General Aviation Manufacturers Association (GAMA) recently released first quarter 2005 numbers stating that, for General Aviation, the number of new aircraft built increased to 627 aircraft, up 15.7 percent over the first quarter 2004, while industry billings for new airplanes rose to $2.7 billion.
"This agreement combines the strength of two companies, who together create increased value and safety for our customers. Orders have already been received from two manufacturers with many others showing strong interest. This unique `niche' product offering provides a new and exciting growth opportunity for both Aerosonic and Mid-Continent," said Mark Perkins, Aerosonic's Executive Vice President.
Mid-Continent Instruments manufactures aircraft instruments for the general aviation industry. Services at the Wichita, Kansas facility include developing and manufacturing new avionics products. Mid-Continent Instruments West in Van Nuys, California provides new instrument sales and is the top-rated instrument overhaul shop on the west coast. For additional information, visit the company website at http://www.mcico.com.
Aerosonic Corporation, headquartered in Clearwater, Florida, is principally engaged in the manufacture of aviation products. Locations of the Company include the Clearwater, Florida Instrument Division (Clearwater Instruments), the Aerosonic Wichita, Kansas Division (Kansas Instruments), and Avionics Specialties, Inc., a Virginia corporation wholly owned by the Company. For additional information, visit the company website at http://www.aerosonic.com.
This document contains statements that constitute "forward-looking" statements within the meaning of the Securities Act of 1933 and the Securities Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. "Forward-looking" statements contained in this document include the intent, belief or current expectations of the Company and its senior management team with respect to future actions by officers and directors of the Company, prospects of the Company's operations, profits from future operations, overall future business prospects and long term stockholder value, as well as the assumptions upon which such statements are based.
Investors are cautioned that any such forward-looking statements are not guarantees of future performance, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those contemplated by the forward-looking statements in this document include, but are not limited to, adverse developments with respect to the resolution of current stockholder litigation, adverse developments involving operations of the Company's business units, failure to meet operating objectives or to execute the business plan, and the failure to reach revenue or profit projections. The Company undertakes no obligation to update or revise the forward-looking statements contained in this document to reflect changed assumptions, the occurrence of unanticipated events, or changes to future operating results over time.