FIRST AVIATION Q3 SALES UP 24%

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By TESTCustomwebLP TESTCustomwebLP November 18, 2010 22:05

FIRST AVIATION Q3 SALES UP 24%

First Aviation Services has announced revenue for the quarter ended September 30, 2010 increased 24.2% to $33.6 million, versus $27.0 million in the prior year period. For the nine month period ended September 30 sales at $96.8 million were 22.2% higher than the same period last year. Operating subsidiary Aerospace Products International on a stand alone basis increased sales 4.3% for the comparable period.

Aaron P Hollander, chairman and CEO, says: “We are pleased with the sales growth in the quarter. We are focusing on increasing margins in the distribution business, growing our maintenance, repair and overhaul capabilities and expanding our supply chain programs. During the quarter we began the implementation of our participation in the Army C-12 program which became operational in the fourth quarter. This program along with the recently closed new financing facility with Wells Fargo Capital Finance should positively impact profitability.”

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By TESTCustomwebLP TESTCustomwebLP November 18, 2010 22:05
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