August 20, 2014 6:01 PM ET

Trading Companies and Distributors

Company Overview of First Aviation Services Inc.

Company Overview

First Aviation Services, Inc., through its subsidiaries, provides repair and overhaul, rotables management, and related engineering services to the aviation industry worldwide. It is involved in the maintenance, repair, and overhaul of landing gears, propellers, wheels, brakes and hose assemblies, and electrical components, as well as hydraulic, electromechanical, oxygen, and fire suppression systems. The company was founded in 1995 and is headquartered in Westport, Connecticut.

15 Riverside Avenue

First Floor

Westport, CT 06880

United States

Founded in 1995

Phone:

203-291-3300

Fax:

203-291-3330

Key Executives for First Aviation Services Inc.

Co-Founder
Age: 58
Chief Financial Officer
Senior Vice President
Corporate Secretary and Controller
Advisor
Age: 85
Compensation as of Fiscal Year 2014.

First Aviation Services Inc. Key Developments

First Aviation Services Inc. Reports Earnings Results for the First Quarter Ended March 31, 2014

First Aviation Services Inc. reported earnings results for the first quarter ended March 31, 2014. Sales for the first quarter were $5.9 million compared with $6.1 million in the prior year. Operating income showed improvement at $633,000 and 11% of sales versus a loss of $143,000 in the prior year period. Income available to common stockholders was $312,000 versus the prior year's $2.9 million which included income from discontinued operations of $3.4 million. Net income per share of continuing operations was $0.32 versus net loss per share of continuing operations of $0.44 in the prior year period.

First Aviation Services Inc. Reports Consolidated Earnings Results for the Year Ended Dec. 31, 2013

First Aviation Services Inc. reported consolidated earnings results for the year ended Dec. 31, 2013. For the period, the company reported net sales of $23.445 million compared to $21.579 million a year ago. Operating income from continuing operations was $0.380 million compared to operating loss from continuing operations of $1.146 million a year ago. Loss from continuing operations before income taxes was $0.341 million compared to $1.340 million a year ago. Income available to common stockholders was $2.821 million compared to loss attributable to common stockholders of $13.271 million a year ago. Net loss per share - assuming dilution - continuing operations was $0.59 compared to $1.83 a year ago. Net cash used in operating activities - continuing operations was $1,170 million compared to $1,156 million a year ago. Purchases of plant and equipment and other assets were $0.408 million compared to $0.710 million a year ago.

First Aviation Services Inc. Announces Consolidated Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2013

First Aviation Services Inc. announced consolidated unaudited earnings results for the third quarter and nine months ended September 30, 2013. For the quarter, the company reported net sales of $5,277,000 against $5,827,000 a year ago. Operating income from continuing operations was $154,000 against operating loss from continuing operations of $96,000 a year ago. Loss from continuing operations before income taxes was $14,000 against $235,000 a year ago. Loss from continuing operations was $17,000 against $261,000 a year ago. Net loss was $17,000 against net income of $393,000 a year ago. Net loss per share - assuming dilution from continuing operations was $0.11 against $0.35 a year ago. Net cash provided by operating activities from continuing operations was $290,000 against net cash used in operating activities-continuing operations of $27,000 a year ago. Purchases of plant and equipment were $80,000 against $315,000 a year ago. For the nine months, the company reported net sales of $18,185,000 against $16,624,000 a year ago. Operating income from continuing operations was $761,000 against operating loss from continuing operations of $76,000 a year ago. Income from continuing operations before income taxes was $216,000 against loss from continuing operations before income taxes of $319,000 a year ago. Income from continuing operations was $130,000 against loss from continuing operations of $417,000 a year ago. Net income was $3,547,000 against $238,000 a year ago. Net income per share - assuming dilution from continuing operations was $0.12 against $0.65 a year ago. Net cash provided by operating activities from continuing operations was $225,000 against net cash used in operating activities-continuing operations of $928,000 a year ago. Purchases of plant and equipment were $277,000 against $515,000 a year ago.

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