First Quarter Conference Call - Fiscal 2007
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Our Components Group continues its outstanding performance. Sales were up 22% to $68.3 million in the quarter.
Controls for aircraft continues to be the largest product line, and it continues to be a surprisingly strong market. Sales were up 39% to almost $24 million in the quarter.
In this quarter, the single largest program was the Euro Fighter on which we supply a number of fiber optic transmitters and receivers to a consortium of European customers. Sales, in the quarter, were $2.3 million.
The Blackhawk Helicopter continues as a major program. Total sales, in the quarter, were $1.8 million, of which over 75%, are aftermarket sales. The products, you'll recall, are slip rings used in deicing. It's ironic that the spares requirement is so high for a deicing system on helicopters flown in the desert.
Another of our major programs is the FLIR system for the F-18, on which we delivered just under $1 million worth of slip rings.
Space and defense sales in the Components Group were also up 37% to $14.6 million. The biggest program in the quarter was another fiber-optic product, a fiber-optic modem used for battlefield communication. In this quarter, our customer was the Egyptian Army. Sales were $2.6 million.
The other big program, in the quarter, was the commander's independent viewer for the Bradley fighting vehicle. We supply a number of components for this system and sales, in the quarter, were $2.4 million.
In a quarter-over-quarter comparison, sales in the marine market were up 29% to $6.5 million, but they were about the same level as the previous two quarters. So, it does appear that this market has leveled off. As we've said in the past, our marine market is greatly influenced by oil prospecting and production, and ultimately the price of oil, which also seems to have leveled off some.
Compared to a year ago, sales of components for use in medical applications were down $800,000 to about $11.2 million. The swing has all to do with sales of motors to Respironics. We actually sold more motors, in the quarter, than we did a year ago, but last year we made a major effort to reduce both our costs and our selling price. As a result, we're selling more motors at a lower price. Sales of slip rings for CAT Scan machines were fairly stable as were the rest of the products in medical equipment.
On the other hand, industrial sales were up 12% to $12.4 million. Our industrial component sales include a wide variety of products used in a broad range of applications. One of the most important is commercial slip rings used in closed circuit TV surveillance systems. Sales in this product line were up 6% from a year ago.
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