Aldila Reports Second Quarter 2011 Financial Results
(firmenpresse) - POWAY, CA -- (Marketwire) -- 07/28/11 -- ALDILA, INC. (OTCQX: ALDA) (PINKSHEETS: ALDA) announced today net sales of $12.0 million and a net loss of $444,000 ($0.08 loss per share) for the three months ending June 30, 2011 as compared to net sales of $14.4 million and net income of $704,000 ($0.13 income per share) for the comparable period in 2010. For the six months ended June 30, 2011, the Company's net sales were $23.3 million and a net loss of $979,000 as compared to net sales of $30.5 million and net income of $1.4 million for the comparable period in 2010.
"We continued to experience a slowdown in Golf shaft sales in the second quarter compared to the comparable period in 2010. We expect a stronger second half, especially the fourth quarter as new programs begin full production in support of the 2012 OEM product launches. Our backlog of $8.6 million as of June 30, 2011 is 28% higher than the comparable period in 2010," said Mr. Peter R. Mathewson, Chairman and CEO.
"We continue to have success on the PGA Tour. Through last week's Open Championship, Aldila shafts have been used to win 11 events on the PGA Tour, nearly 40% of all events held to date. Our shafts continue to be the most popular graphite shafts on the PGA Tour according to the Darrell Survey," said Mr. Mathewson.
"Next month we will launch our newest shaft model, the RIP'd NV™ wood shaft. This shaft has been in use and tested for months on the PGA Tour and the feedback has been very positive. This shaft is a combination of our revolutionary Micro Laminate Technology® used in the Aldila NV® and RIP Technology® used in our very popular RIP® shaft series. This unique combination of technologies produce a shaft with great feel and unparalleled control and accuracy," Mr. Mathewson said.
"Our Composite Materials Division increased sales by 3% in the quarter versus the second quarter of 2010 and increased sales 8% through the six months June 30, 2011 as compared to the same period of last year. We continue in our pursuit of several promising programs that are non recreational and require qualifications that are time consuming but offer significant sales volume potential," said Mr. Mathewson.
"Our Archery business is well on its way through the transition process of moving manufacturing from a Mexico facility to our Vietnam factory. We expect to have almost all production activities moved to Vietnam by the end of the third quarter. As expected, we have encountered shortages of some product as we work our way through this transition. We expect to have this corrected in the next couple of months as we scale up the production. We have been pleased with the quality of the product produced from our Vietnam facility," said Mr. Mathewson.
Aldila will host a conference call at 5 P.M. Eastern Time, on July 28, 2011 with Peter R. Mathewson, Chairman and CEO and Scott M. Bier, Vice President, Chief Financial Officer, to review Aldila's Second Quarter 2011 financial results. For telephone access to the conference call dial 1-888-239-5348 or 1-913-312-1448 for international calls and request connection to the Aldila conference call, Participant Passcode: 2404396. A live webcast of the conference call can be accessed on the Aldila website at . An archive of the webcast will be available through our website for 90 days following the conference call.
This press release contains forward-looking statements based on our expectations as of the date of this press release. These statements necessarily reflect assumptions that we make in evaluating our expectations as to the future. Forward-looking statements are necessarily subject to risks and uncertainties. Our actual future performance and results could differ from that contained in or suggested by these forward-looking statements as a result of a variety of factors. Our filings with the OTC Disclosure and News Service and the Securities and Exchange Commission (for filings prior to move to OTCQX U.S. Premier) present a detailed discussion of the principal risks and uncertainties related to our future operations, in particular our Annual Report for the year ended December 31, 2010, under "The nature of issuer's business" in Part C, Item VIII, and "Management's Discussion and Analysis or Plan of Operation" in Part C, Item XVI and Quarterly Reports and Current Reports, all of which can be obtained on the OTCQX U.S. Premier website, which can be found at .
The forward-looking statements in this press release are particularly subject to the risks that:
consumer discretionary spending will be flat or decline, which could have a material impact on our business;
our product offerings, including the NV®, VS Proto™, DVS®, VooDoo® and RIP® shaft lines and product offerings outside the golf industry, will not achieve or maintain success with consumers or customers;
we will not maintain or increase our market share at our principal customers;
demand for clubs manufactured by our principal customers will decline, thereby affecting their demand for our shafts;
demand for composite materials by our principal customers will decline or fail to continue to grow;
the market for graphite shafts will continue to be extremely competitive, affecting selling prices and profitability;
our international operations will be adversely affected by political instability, currency fluctuations, export/import regulations or other risks typical of multi-national operations, particularly those in less developed countries;
the Company will not be able to acquire adequate supplies of carbon fiber at reasonable market prices;
acts of terrorism, natural disasters, or disease pandemics interfere with our manufacturing operations or our ability to ship our finished products.
For additional information about Aldila, Inc., please go to the Company's website at .
Investor/Media Contacts:
Scott M. Bier
Vice President, CFO
Sylvia J. Castle
Investor Relations
Aldila, Inc.
(858) 513-1801
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Datum: 28.07.2011 - 14:15 Uhr
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