Breeze-Eastern Corporation (NYSE MKT: BZC)
The story is laid out well in it’s press release from July 31:
Breeze-Eastern Corporation (NYSE MKT: BZC) today reported its fiscal 2014 first quarter financial results.
- Net sales: $19.6 million versus $14.4 million for fiscal 2013 first quarter.
- “No Further Remediation” letter received for one site reduced our environmental obligation, producing a $1.2 million benefit that lowered selling, general, & administrative expenses and increased net income and Adjusted EBITDA (as described under “Non-GAAP Financial Measures” in this press release).
- Net income/(loss): net income of $1.4 million, or $0.14 per diluted share, versus a net loss of $(0.8) million, or $(0.09) per diluted share, for the same period last year. Excluding the non-recurring benefit of the environmental reserve reduction, net income would have been $0.6 million, or $0.07 per diluted share.
- Adjusted EBITDA: positive $2.6 million, versus a negative $(0.9) million in the first three months of fiscal 2013. Excluding the non-recurring benefit of the environmental reserve reduction, Adjusted EBITDA would have been $1.4 million.
- Bookings: $16.0 million, versus $14.8 million in the fiscal 2013 first quarter. The book-to-bill ratio for the fiscal 2014 first quarter was 0.8 and was 1.0 in the fiscal 2013 first quarter.
- Debt: Continues to be zero.