Here is some interesting text from the 10-Q:
Sales for the Precision Aerospace product line increased $2,751,000, or 76.1%, for the three months ended March 31, 2007, as compared to the three month period ended April 1, 2006. The increase was due to increased shipments of jet engine parts to its major aerospace customers. The Company’s sales backlog for Precision Aerospace increased by $2.6 million from December 30, 2006 to March 31, 2007. The Company believes that the aerospace industry’s demand for its machining services will continue to increase. To further increase machining capacity in support of the Precision Aerospace product line, the Company has budgeted over $2,000,000 for additional machinery and equipment yet to be delivered in 2007.
Sales for the Gros-Ite Spindles product line decreased $289,000, or 25.4%, for the three months ended March 31, 2007, as compared to the three month period April 1, 2006. The decrease in sales was due to decreased demand for new spindles, as well as the decreased demand for the repair of all brands of spindles. The Company believes that demand will increase for the remainder of 2007, based on indications from its customers.
As of March 31, 2007, sales backlog was approximately $31,600,000 compared to $28,800,000 as of December 30, 2006. Backlog consists of accepted purchase orders that are cancelable by the customer without penalty, except for payment of costs incurred. The Company presently expects to complete approximately $20,900,000 of its March 31, 2007 backlog during the remainder of the 2007 fiscal year. The remaining $10,700,000 of backlog is deliverable in fiscal year 2008 and beyond.
Mike
