BRSI Ballistic Recovery Systems Inc. featured news, full reports, and detailed charts
Ballistic Recovery Systems Inc. (BRSI/BRSI.PK) Wrap Up:
Ballistic Recovery Systems, Inc. engages in the design, manufacture, and distribution of rocket deployed whole-aircraft emergency parachute systems for use on general aviation and recreational aviation aircraft. Its emergency parachute systems are designed to bring down the entire aircraft and its occupants under the parachute canopy in the event of in-air emergencies, such as mid-air collisions, structure failure, engine failure, pilot incapacitation, and unstable meteorological conditions. The company offers its products primarily to aircraft original equipment manufacturers in the general aviation, light sport aircraft, personal protective equipment, and recreation aviation markets. Balli...www.brsparachutes.com
Founded in 1980
Ballistic Recovery Systems Inc. (BRSI:OTC)
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Market Cap
3.5M
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Total Revenue
10.4M
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EBITDA
743.1K
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DILUTED EPS TTM
-0.05
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P/E
--
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P/S
0.3x
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Return On Asset
-6.21
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Return On Equity
-10.76
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| K = Thousands M = Millions B = Billions | ||
BRSI Top Compensated Officers
Mr. Larry E. Williams
Chief Executive Officer, President, Chief Ope...
Age: 51
Total Annual Compensation: $242.5K
Mr. Gary Moore
Vice President of Sales and Marketing
Age: 53
Total Annual Compensation: $105.8K
Mr. John M. Gilmore
Director of Cessna Customer Support
Age: 58
Total Annual Compensation: $104.9K
Mr. Frank Hoffmann
Vice President of Engineering
Age: 38
Total Annual Compensation: $99.5K
Executives, Board Directors
Compensation as of Fiscal Year 2007.
Key developments for Ballistic Recovery Systems Inc. (BRSI)
Ballistic Recovery Systems Inc. Wins Extra $2.75 Million in New Orders
09/9/2009
Ballistic Recovery Systems Inc. announced that it has been awarded an extra $2.75 million in new orders (an increase of 72% over its initial order) by the US Army to manufacture additional 'low velocity' cargo parachutes over an 18-month period. Production for this contract will occur at the company's North Carolina facility where at least 20 more employees will be hired to accommodate this increase. Combined with the original Low Velocity contract received in July, the Low V program will bring in more than $6.6 million of revenue over the initial 18-24 month delivery period and more than 40 new jobs to the Pinebluff, NC region.
Ballistic Recovery Systems Inc. Reports Preliminary Earnings Results for the Third Quarter and Nine Months Ended June 30, 2009
07/29/2009
Ballistic Recovery Systems Inc. reported preliminary earnings results for the third quarter and nine months ended June 30, 2009. For the quarter, consolidated net revenue fell 58.7% to $1,336,541 compared to $3,233,213 for the same period in fiscal 2008. Net income before taxes was $13,770 compared to net loss of $245,408 for the same prior-year period. The year-over-year difference in net income was primarily driven by cost cutting and sizing the business to the economic realities. For the nine months, consolidated net revenue is down 47.6% to $4,270,544 compared to $8,148,312 for the same period in fiscal 2008.
BRS Aerospace Wins Two Additional Army Contracts
07/29/2009
BRS Aerospace announced that it had been awarded two new contracts by the US Army to manufacture more than 3,500 'High and Low Velocity' cargo parachutes over a two-year period. In addition, the Army increased a previous contract quantity awarded BRS this past Spring by more than 50%. Work for these new contracts will be divided between the company's North Carolina and Minnesota facilities while more than 100 new employees will be hired to fulfill these contracts. Combined, these new contracts are valued at more than $17,000,000 to BRS Aerospace over the period of the initial contracts. The High and Low Velocity parachutes are designed to re-supply troops using the same container systems as are currently being used with the traditional nylon round canopy parachutes such as the 26-foot Ringslot and G-12 system. Both High and Low V chutes are constructed of low cost, easily obtainable, woven polypropylene. The High V is designed for deployments between 15,000-25,000 AGL while the Low V is for altitudes of 500-1,200 ft AGL.
BRSI Competitors
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Industry Analysis
| Valuation | BRSI | Industry Range |
| Price/Earnings | NM | Not Meaningful |
| Price/Sales | 0.3x |
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| Price/Book | 0.7x |
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| Price/Cash Flow | NM | Not Meaningful |
| TEV/Sales | 0.1x |
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BRSI transactions
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More Recent News About Ballistic Recovery Systems Inc.
More news for BRSI
Army Issues 70% Increase to BRS Aerospace Parachute Contract
SOUTH ST. PAUL, MN--(Marketwire - 09/09/09) - BRS Aerospace (Ballistic Recovery Systems, Inc.) (Pinksheets:BRSI - News), a manufacturer of whole-aircraft emergency parachute systems, military cargo and personnel parachutes, and reflective safety products, announced today that it has been awarded an extra $2.75M in new orders (an increase of 72% over its initial order) by the US Army to manufacture additional "low velocity" cargo parachutes over an 18-month period. Production for this contract will occur at the company's North Carolina facility where at least 20 more employees will be hired to accommodate this increase. Combined with the original Low Velocity contract received in July, the Low V program will bring in more than $6.6M of revenue over the initial 18-24 month delivery period and more than 40 new jobs to the Pinebluff, NC region. The Low Velocity parachute, made of lower cost woven polypropylene instead of traditionally used, but more expensive, ripstop nylon, is designed for humanitarian relief efforts and resupply missions where it is difficult to recover airdrop equipment or reach troops by ground convoy and from deployment altitudes of 500-1,200 AGL (above ground level). These parachutes are designed to be light, simple in design, and up to 80% less expensive than the standard parachutes and containers now used for these missions.Low Velocity Parachute"We are very proud that the Army has recognized our capabilities and desire to provide quality defense articles in a timely manner, something we have b...Click here to read the whole Article (external link)
BRS Announces Re-Branding Campaign
SOUTH ST. PAUL, MN--(Marketwire - 07/29/09) - BRS Aerospace (Pinksheets:BRSI - News), a manufacturer of whole-aircraft emergency parachute systems, military cargo and personnel parachutes, as well as reflective safety products announced today that, beginning immediately, Ballistic Recovery Systems will be known as BRS Aerospace. The promotion, which includes a new corporate identity and logo, as well as a revised corporate website (www.brsaerospace.com), will be launched through a variety of sales and marketing initiatives, including media campaigns. The re-branding will support the company's expanded product offerings which leverage its extensive management experience, assorted manufacturing capabilities in US and out-US locations, and established aircraft platform applications."We are very enthusiastic about our rebranding initiative. This will serve to communicate how BRS Aerospace is constantly adapting to match the fluid nature of demand," said Larry E. Williams, President and CEO. "Today's marketplace requires us to look beyond our traditional designs and manufacturing capabilities and position BRS Aerospace to leverage our new found successes, especially in the defense products market.""Rebranding ourselves is far more than a name change -- it demonstrates BRS's long-term commitment to aggressively grow an...Click here to read the whole Article (external link)
BRS Wins Two Additional Army Contracts
SOUTH ST. PAUL, MN--(Marketwire - 07/28/09) - BRS Aerospace (Pinksheets:BRSI - News), a manufacturer of whole-aircraft emergency parachute systems, military cargo and personnel parachutes, and reflective safety products, announced today that it had recently been awarded two new contracts by the US Army to manufacture more than 3,500 "High and Low Velocity" cargo parachutes over a two-year period. In addition, the Army increased a previous contract quantity awarded BRS this past Spring by more than 50%. Work for these new contracts will be divided between the company's North Carolina and Minnesota facilities while more than 100 new employees will be hired to fulfill these contracts. Combined, these new contracts are valued at more than $17,000,000 to BRS Aerospace over the period of the initial contracts. The High and Low Velocity parachutes are designed to re-supply troops using the same container systems as are currently being used with the traditional nylon round canopy parachutes such as the 26-foot Ringslot and G-12 system. Both High and Low V chutes are constructed of low cost, easily obtainable, woven polypropylene. The High V is designed for deployments between 15,000-25,000 AGL while the Low V is for altitudes of 500-1,200 ft AGL."We are just ecstatic that the Government has recognized all the hard work we have undertaken in preparing ourselves for such contracts. We have invested heavily in capital, infrastructure, and quality processes to get to the point that we can meet and, in fact, exceed the military's ex...Click here to read the whole Article (external link)
BRS Announces Profit for 3rd Quarter FY 09
SOUTH SAINT PAUL, MN--(Marketwire - 07/28/09) - Ballistic Recovery Systems, Inc. (Pinksheets:BRSI - News), a manufacturer of whole-aircraft emergency parachute systems, announced preliminary results of its fiscal 2009 third quarter ending June 30, 2009. Consolidated net revenue for the third quarter ended June 30, 2009 fell -58.7% to $1,336,541 compared to $3,233,213 for the same period in fiscal 2008. Year to date through the first three quarters of fiscal 2009 consolidated net revenue is down -47.6% to $4,270,544 compared to $8,148,312 for the same period in fiscal 2008.Net income before taxes for the third quarter was $13,770 compared to net loss of ($245,408) for the same prior-year period. The year-over-year difference in net income was primarily driven by cost cutting and sizing the business to the economic realities.Larry E. Williams, President and Chief Executive Officer, said, "Third-quarter results show the effectiveness of our efforts to drive free cash flow by restructuring our expense base. The restructuring moves we began in early Fall 2008 are now benefiting the bottom line." He added, "While we are still not out of the woods in terms of the severely depressed aviation industry nor the entire economy as a whole, I am very pleased with how we are reacting to this confluence of tough times. Our people have sacrificed and worked especially hard to get us to this point. I see only continued improvement in the months ahead," Mr. Williams concluded.About Ballistic Recovery Systems and Advanced Tact...Click here to read the whole Article (external link)
BRS Parachute Does It Again!
SOUTH ST. PAUL, MN--(Marketwire - 07/14/09) - Ballistic Recovery Systems, Inc. (Pinksheets:BRSI - News), a manufacturer of whole-aircraft emergency parachute systems, announced today that one of its parachute products has saved two pilots in southern France during a recent demonstration test flight. BRS parachute systems have now recorded 236 documented lives saved to date! The Polaris FK-14 light sport aircraft was flying at 2,400 feet undergoing maneuver stall testing when it entered an unrecoverable spin. After 5 or 6 turns, and at a very low altitude, the pilot elected to deploy his onboard BRS parachute system. Working exactly as designed, the parachute immediately righted the aircraft's nose-down attitude and brought both aircraft and occupants to earth safely, landing in a corn field. The aircraft sustained damage to its wings and fuselage. Fellow pilot and passenger Christophe Briand, age 44, of Muret, France, said, "I am a dealer for BRS in Europe and now I truly understand just how important this product is to my customers. While I wish I hadn't needed to have used it, I am nonetheless very grateful the plane I was flying that day had one installed. I can now sell these products 'from the heart' as I have experienced their success first hand. Thank you, BRS, for making such good products.""This was an especially satisfying save," said BRS CEO and President, Larry Williams. "We are so pleased that Christophe will now be around to testify to the quality and efficacy of our outstanding products from a personal-use vi...Click here to read the whole Article (external link)
Another Life Saved by BRS Aircraft Parachute
Expired Yahoo - Document Has Expired/iw/090424/0494536.html Options that might be of interest: Go to the Yahoo! home page. Go to the Yahoo! Finance home page. Go to the Yahoo! Loan Center. Go to the Yahoo! Insurance Center. Other resources: Message Boards - Stock Chat - Finance Clubs ...Click here to read the whole Article (external link)
BRS Announces Preliminary Fiscal 2008 Results
SOUTH ST. PAUL, MN--(MARKET WIRE)--Dec 31, 2008 -- Ballistic Recovery Systems, Inc. (Other OTC:BRSI.PK - News) announced today preliminary unaudited financial results for its fiscal year ended September 30, 2008.As indicated below, the Company will not file its Annual Report on Form 10-K for the fiscal year ended September 30, 2008.Larry E. Williams, President and Chief Executive Officer, said, "We are pleased with our fourth quarter and full year performance as well as our ability to achieve consistent growth in revenue. During these extremely challenging market conditions, we are focused on returning to positive EBITDA and operating income and saw significant improvement in FY08 over FY07. We continued to benefit from ongoing market expansion efforts and the addition of new lines of business, as we diversify our revenue base. Labor and operating expenses reflected continuing improvement."During the last two weeks of the 2008 fiscal year, the Company's largest customer, Cirrus Design, did not take any deliveries of BRS units, contributing to an overall reduction in aviation sales for FY08 as compared to FY07. During the first quarter of 2009 the Company delivered 64 units to Cirrus compared to 184 during the same period in Fiscal 2008, or down 65%. In response to the overall market slowdown, the Company announced significant workforce reductions on November 21, 2008.Net revenue for the 2008 fiscal year increased 10.9 percent, or $1,025,088, to $10,427,439, compared to $9,402,351 in the prior year. Revenue growth reflected an increase primarily through the safety products line of business through Advanced Tactical Fa...Click here to read the whole Article (external link)
BRS Announces Workforce Reductions
SOUTH ST. PAUL, MN--(MARKET WIRE)--Nov 21, 2008 -- Ballistic Recovery Systems, Inc. (Other OTC:BRSI.PK - News) announced today that, in light of recent cutbacks from two of its major customers, a temporary layoff of employees has been required. An approximate 25% reduction in total workforce occurred today, primarily at the company's South St. Paul headquarters location. It believes this layoff may last several weeks to months depending on when its main customers see their own sales improve. "While we never enjoy doing this, the ups and downs of the marketplace, especially with this most recent and current economic downturn, require us to make difficult choices with regard to the labor component of our business," said BRS CEO and President, Larry Williams. "The General Aviation and sport aviation markets have taken a substantial nosedive recently (off 18% this year) with a potential further erosion of sales through at least the 1st half of 2009. While we, thankfully, have other non-aviation business to support ourselves during this period, our core business lines are taking a substantial hit and we need to react proactively to this reality," he added. While BRS, as a whole, realized strong double-digit sales in the first month of its new fiscal year, it does not expect to sustain this rate in light of these developments with its key aviation customers; consequently, cutting expenses has become a priority. "We will make it through this downturn, of this I have no doubt, and realigning our workforce to this new environment is on...Click here to read the whole Article (external link)
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