KRSL should be reporting third quarter earnings around May 12-15.
As I mentioned previously, backlog increased sequentially last quarter and I'm looking for backlog to increase in the third quarter.
Here's a blurb from their 10-Q...
Backlog
Our total backlog as of December 31, 2007 was $32,100,000 compared to $23,300,000 at December 31, 2006. As of December 31, 2007, the backlog increased $8,800,000, or 38%, from December 31, 2006. Up to approximately 70% of the current backlog is scheduled for delivery over the next 12 months. There can be no assurances, however, that the current backlog will be delivered during that time or at all. Backlog as of June 30, 2007 was $29,900,000. Backlog is subject to change with reduced purchase order duration and terminations. Orders that have already been terminated by a customer are excluded from the backlog even if the amount owed by a customer to us for the termination has not been paid.
Some more info from their last 10-Q regarding their outlook:
We remain focused on expanding our global capabilities and expect Kreisler Polska’s tube and pipe facility to be operational in the second half of calendar year 2008 in a newly renovated facility. Our commitment to this global strategy has not been followed by most of our competitors. We will again have a sales and marketing presence at the bi-annual Farnborough Air Show outside London in July 2008.
We provide, under a Memorandum of Understanding (“MOU”) between Kreisler Industrial and United Technologies Corporation (“UTC”), the majority of tube and manifold components used on the F119 engine (2 engines per F-22 aircraft) which is the only engine currently certified for use on the F-22 Raptor. As a result, sales of F119 engine components represent an important part of our military sales. According to the Financial Times (issue dated January 25, 2008), Lockheed Martin, the manufacturer of the F-22, expressed confidence that the US Congress will extend funding for the aircraft beyond the current planned purchase of 183 aircraft. Should this increase come to fruition, we believe that we are well positioned to benefit from such an increase. See the “Liquidity and Capital Resources” section of this Management Discussion and Analysis for a description of the MOU.
We have not seen any indications that the reported economic slowdown (such as slowing 4th quarter GDP growth reported in the Wall Street Journal Online on January 30, 2008) has affected our sales. We look for any global economic changes that could affect us and we believe that we are prepared to respond accordingly if an economic slowdown should have the potential to affect us.
