-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, TVu/56I4UzOXW4d0yNKCQzho9kk2Sv+mA0tOGb2vpyOaqHewXlThUqtBTzjNkUIM oXfDytIbD3ZgTD+Xbsl92g== 0000950134-03-015053.txt : 20031112 0000950134-03-015053.hdr.sgml : 20031112 20031112170526 ACCESSION NUMBER: 0000950134-03-015053 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20031111 ITEM INFORMATION: ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20031112 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AERO SYSTEMS ENGINEERING INC CENTRAL INDEX KEY: 0000002589 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-ENGINEERING SERVICES [8711] IRS NUMBER: 410913117 STATE OF INCORPORATION: MN FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-07390 FILM NUMBER: 03994729 BUSINESS ADDRESS: STREET 1: 358 E FILLMORE AVE CITY: ST PAUL STATE: MN ZIP: 55107 BUSINESS PHONE: 6122201222 MAIL ADDRESS: STREET 1: 358 E FILLMORE AVE CITY: ST PAUL STATE: MN ZIP: 55107 8-K 1 c80947e8vk.txt FORM 8-K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): November 11, 2003 -------------------------- Aero Systems Engineering, Inc. - -------------------------------------------------------------------------------- (Exact name of registrant as specified in its charter) Minnesota 0-7390 41-0913117 - -------------------------------------------------------------------------------- (State or other jurisdiction (Commission (I.R.S. Employer of incorporation) File Number) Identification No.) 358 E. Fillmore Avenue, St. Paul, Minnesota 55107 - -------------------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (651) 227-7515 --------------------------- Not applicable. - -------------------------------------------------------------------------------- (Former name or former address, if changed since last report.) AERO SYSTEMS ENGINEERING, INC. INDEX TO CURRENT REPORT ON FORM 8-K
Item Number Page - ----------- Item 7. Financial Statements, Pro Forma Financial Information and Exhibits. 3 Item 12. Results of Operations and Financial Condition. 3 Signatures. 3 Exhibits Index. 4
(The remainder of this page was intentionally left blank.) 2 ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS. (a) Not required. (b) Not required. (c) The following exhibit is being filed as part of this Current Report on Form 8-K: 99.1 Press release dated November 11, 2003 ITEM 12. RESULTS OF OPERATIONS AND FINANCIAL CONDITION. On November 11, 2003, Aero Systems Engineering, Inc. issued a press release announcing Third Quarter 2003 Results and a Recent Order. A copy of the press release is filed herewith as Exhibit 99.1 and incorporated herein by reference SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: November 11, 2003 Aero Systems Engineering, Inc. By: /s/ Steven R. Hedberg --------------------------- Steven R. Hedberg CFO, Secretary & Treasurer 3 EXHIBIT INDEX Exhibit Number Description - -------------- ------------------------------------- 99.1 Press Release Dated November 11, 2003 4 EX-99.1 3 c80947exv99w1.txt PRESS RELEASE EXHIBIT 99.1 PRESS RELEASE Date: November 11, 2003 Contact: Steven R. Hedberg For Release: Immediately ASE ANNOUNCES THIRD QUARTER 2003 RESULTS AND RECENT ORDER ST. PAUL, MINNESOTA -- Aero Systems Engineering, Inc. (Nasdaq - AERS), a worldwide leader in wind tunnel and jet engine testing facilities engineering, announced today the results for the Third Quarter 2003. Results for the period were: (Results in 000's except per share amounts)
3 Months 9 Months ENDED 9/30 ENDED 9/30 -------------------- -------------------- 2003 2002 2003 2002 ---- ---- ---- ---- Revenues $ 7,836 $ 9,442 $27,020 $29,342 Earnings Before Taxes 130 618 1,069 1,706 Net Income 76 408 683 1,126 Net Income Per Share .02 .09 .16 .26 Weighted Average Common Shares Outstanding 4402 4402 4402 4402
The decrease in revenue and net income was mostly attributable to the lower level of work on the Singapore wind tunnel project during the first nine months of 2003 as compared to the same period in 2002 resulting in lower recognized revenue and profit as the project nears completion. Also, there were fewer wind tunnel and Aerotest Lab projects in process during the third quarter of 2003 as compared to third quarter of 2002. In late October, ASE received a $4.1 million contract award from Samsung Techwin Company, LTD for design services and equipment supply to upgrade an existing jet engine test cell in the Republic of South Korea. Comments regarding the ability of the Company to achieve revenues in the future and other forward-looking statements involve risks and uncertainties, including but not limited to general economic conditions, the condition of the aerospace industry, signing of future contracts, competitive factors and other risks detailed from time to time in the Company's reports to the SEC, including the report on Form 10-K for the year end December 31, 2002. Actual results may vary materially from those anticipated. ABOUT AERO SYSTEMS ENGINEERING Aero Systems Engineering, Inc. (ASE) is a highly skilled and experienced engineering company, which designs and supplies aerospace test facilities. ASE is a leader in design and construction of engine test cells and wind tunnels for testing aerospace vehicles and propulsion systems. ASE is ISO 9001 certified. ASE, headquartered in St. Paul, Minnesota, is 51% owned by Minnesota ASE, LLC. Aero Systems Engineering, Inc. common stock is listed on The Nasdaq Stock Market(SM) under the symbol: AERS. COMPANY CONTACTS For further information, contact Steven R. Hedberg, Secretary and Treasurer of Aero Systems Engineering, Inc., tel 651-220-1222. Web: www.aerosysengr.com 5 -----END PRIVACY-ENHANCED MESSAGE-----