12 Mar 13. Trading on AIM for Armor Designs Inc. has been temporarily suspended from 12/03/2013 7:30am, pursuant to AIM Rule 1. The Company also announced that Shore Capital and Corporate Limited and Shore Capital Stockbrokers Limited have resigned with immediate effect as the Company’s Nominated Adviser and Broker respectively. Pursuant to AIM Rule 1, if a replacement Nominated Adviser is not appointed within one month, the Exchange may cancel the admission of the Company’s securities. Accordingly the potential cancellation time and date is 7.00am on 15 April 2013.
BATTLESPACE Comment: This has been a long time coming, seasoned readers will not be surprised by this announcement!
12 Mar 13. Engility Holdings, Inc. (NYSE: EGL), a global
provider of technical and professional services for the U.S. Government, announced financial results for the fourth quarter and full year ended December 31, 2012. Total revenue for the fourth quarter was $396m and operating income for the quarter was $27m. Adjusted operating income for the fourth quarter was $28m. Net income attributable to Engility was $41m, or $2.38 per diluted share. Adjusted net income was $13m, or $0.77 per diluted share. Information about Engility’s use of non-GAAP financial information is provided below under “Non-GAAP Measures.” Funded backlog as of December 31, 2012 was $856m, compared to $788m as of the end of the September 2012 quarter. Contract funded orders in the fourth quarter of 2012 were $461m, representing a book-to-bill ratio of 1.2. Contract funded orders for the full year 2012 were $1.7bn, representing a book-to-bill ratio of 1.0. Days sales outstanding at the end of the 2012 fourth quarter were 84 days, compared to 82 days at the end of the September 2012 quarter. (Source: BUSINESS WIRE)
12 Mar 13. CPI Aerostructures, Inc. (“CPI Aero®”) (NYSE MKT: CVU) announced record results for the 2012 fourth quarter and year ended December 31, 2012.
Fourth Quarter 2012 vs. 2011*
Revenue increased 13.5% to $27,356,029, compared to $24,092,200; Gross margin was 28.1%, compared to 27.2%; Pre-tax income increased 47.8% to $5,765,354, compared to $3,901,020; and Net income increased 34.7% to $3,600,354, or $0.43 per diluted share, compared to $2,673,020, or $0.37 per diluted share.
Full Year 2012 vs. 2011*. Revenue increased 20.4% to $89,272,582, compared to $74,135,669; Gross margin was 27.1%, compared to 25.4%; Pre-tax income increased 56.8% to $16,525,130, compared to $10,538,928; and, Net income increased 48.5% to $11,011,130 or $1.40 per diluted share, compared to $7,416,928 or $1.04 per diluted share.
* Diluted earnings per share for 2012 fourth quarter and year were calculated on 18% and 10% more shares outstanding than in the prior year periods, respectively, due to the Company’s 1.2 m share public offering completed in July 2012.(Source: BUSINESS WIRE)
14 Mar 13. TT Electronics chief upbeat despite slide. The chief executive of TT Electronics has reiterated his confident outlook for 2013, in spite of the electrical components manufacturer reporting a slide in revenues and pre-tax profit for last year. Surrey-based TT saw its full-year revenues decline by more than 6 per cent year-on-year to £476.9m, as dwindling European automotive sales bit into turnover. The company earns roughly half its revenues from Europe, where its sensors are used by carmakers such as BMW, Volkswagen and Daimler. High-performance vehicles utilise more than 100 sensors and control points to measure areas such as engine performance, steering, throttle, braking, suspension and emission controls. (Source: FT.com)
13 Mar 13. Elbit Systems Ltd. (the “Company”) (NASDAQ and TASE: ESLT), reported its consolidated results for the fourth quarter and full year ended December 31, 2012. In this release, the Company is providing US-GAAP results as well as additional non-GAAP financial data, which are intended to provide investors a more comprehensive understanding of the Company’s bu