Avcorp Industries, Inc. T.AVP

Numbers are out. Highlights

[paperboy222]

Revenue was $41.0 million, up 89.6% from $21.5 million for Q3 2015. Including costs incurred from the Hitco acquisition that have yet to be recovered, loss from operations was $17.9 million. In Q3 2015, loss from operations was $2.0 million. Awarded multiple production contracts from Boeing consisting of complex metal bond and multi-material structural assemblies


CEO Commentary “Our third quarter was among our most active ever as marked by our revenue growth and the signing of a major contract award with one our longest-standing customers,” said Mr. Peter George “We are sustaining this momentum into Q4 with the signing of a long-term production contract with Fuji Heavy Industries and efforts to improve operational performance and utilization at our facilities.” Mr. George added, “Looking ahead, we will continue to strengthen our relationships with OEM aircraft manufacturers and their related Tier 1 suppliers through our ongoing efforts to expand our composite manufacturing capabilities. These efforts will run in parallel with initiatives to improve our profitability and market valuation.”