Businessweek

Breeze-Eastern Corporation announced a series of changes designed to strengthen key areas of the organization. Steve Chisarik has joined the company as Vice President of Development Programs; Rodger Hahneman has been promoted to General Manager of Production Operations and Customer Support; and Benjamin (Ben) Weiser is the company's Senior Vice President of Sales and Marketing. As Vice President of Development Programs, Chisarik is responsible for completing all programs on time and within budget while meeting or exceeding technical and quality requirements. He previously served in a series of program management and engineering leadership positions at Sikorsky Aircraft. Hahneman previously served as Senior Vice President of Operations at Breeze-Eastern. In his expanded role, he will also have full responsibility and accountability for developing a world-class customer support organization. Weiser is responsible for all aspects of Breeze-Eastern's Sales and Marketing activities. He most recently served as Senior Vice President of Business Development and Commercial Sales at MD Helicopters Inc.

Breeze-Eastern Corporation announced consolidated earnings results for the third quarter and nine months ended Dec. 31, 2012. In the quarter net sales were $20.2 million, up 3% versus $19.6 million for the fiscal 2012 third quarter, the increase was primarily due to new production hoists and winch and spare parts cargo hook volume for the U.S. Military. This was partly offset by lower overhaul and repair and engineering weapons handling volume. Net income was $1.7 million or $0.18 per diluted share versus net income of $1.1 million or $0.11 per diluted share for the same period last year. Adjusted EBITDA was $3.4 million versus $2.3 million in the third quarter of fiscal 2012. Operating income was $3 million against $1.9 million and income before income taxes was $2.9 million against $1.8 million reported last year. The increase in operating income was due to higher gross profits from sales volume and from higher margins plus lower engineering expenses. For the nine months, the company reported net sales of $58.0 million, up 4% over $55.7 million for the fiscal 2012 first nine months. Net income was $2.9 million or $0.31 per diluted share versus net income of $2.8 million or $0.29 per diluted share for the first nine months of fiscal 2012. Adjusted EBITDA was $6.4 million versus $6.3 million in the fiscal 2012 first nine months. Operating income was $5.3 million against $5.2 million and income before income taxes was $5.0 million against $4.8 million reported last year. The higher operating income is primarily due to higher gross profits from sales volume growth and lower SG&A expenses, partly offset by higher net engineering costs. Net cash provided by operating activities for the fiscal 2013 first nine months was $8.1 million compared with $4.3 million in the first nine months of last year. This increase is primarily due to lower accounts receivable. The company expects fiscal 2013 sales and profitability to be below fiscal 2012 levels.

Breeze-Eastern Corporation, Q3 2013 Earnings Call, Jan 31, 2013

Breeze-Eastern Corporation announced that they will report Q3, 2013 results on Jan 31, 2013

Breeze-Eastern Corporation announced consolidated earnings results for the second quarter and six months ended September 30, 2012. For the quarter, the company's net sales were $23,421,000 compared to $17,880,000 for the same period in 2011. Operating income was $3,555,000 compared to $2,045,000 for the same period in 2011. The increase in operating income was due to higher gross profit from sales volume, partly offset by higher net engineering expenses. Income before income taxes was $3,515,000 compared to $1,923,000 for the same period in 2011. Net income was $2,039,000 or $0.21 per basic and diluted share compared to $1,115,000 or $0.12 per basic and diluted share for the same period in 2011. Adjusted EBITDA was $3,937,000 compared to $2,436,000 for the same period in 2011. The increase in sales was primarily due to new production hoist and winch volume for the U.S. Military. Also having an impact, was growth in new production, hoist and winch volume to Asia and higher cargo hook sales. For the six months, the company's net sales were $37,834,000 compared to $36,128,000 for the same period in 2011. Operating income was $2,325,000 compared to $3,240,000 for the same period in 2011. Income before income taxes was $2,087,000 compared to $2,954,000 for the same period in 2011. Net income was $1,211,000 or $0.13 per basic and diluted share compared to $1,713,000 or $0.18 per basic and diluted share for the same period in 2011. Adjusted EBITDA was $3,071,000 compared to $4,007,000 for the same period in 2011. Net cash used by operating activities was $1.7 million compared with net cash provided of $6.4 million in the first 6 months of last fiscal year. The decrease is primarily due to higher accounts receivable. For fiscal 2013, the company expects to be profitable, but below fiscal 2012 levels.