schlitz
15 years ago
Antenna Products Corp. Awarded FAA Contract
PHAZAR CORP (Nasdaq: ANTP) announced today that Antenna Products Corp., a wholly owned subsidiary, has been awarded an Indefinite Delivery, Indefinite Quantity (IDIQ) contract from the Federal Aviation Administration (FAA) for the production of Mark 20 log periodic dipole (LPD) antennas for replacement of existing Mark 20A LPD antennas. The antennas are used in the localizer portion of an Instrument Landing System (ILS). The localizer provides aircraft a reference to the centerline of a runway during an approach for landing.
The contract is for a base year with four option years with a potential value of $3,000,000. The equipment will be manufactured at Antenna Products Corporation’s plant in Mineral Wells, Texas.
Antenna Products Corporation designs, manufactures and markets standard and custom antennas, wireless mesh network solutions, guyed and self supported towers, support structures, masts and communication accessories worldwide. Customers include the United States Government, both military and civil agencies, United States Government prime contractors and commercial clients.
schlitz
15 years ago
8K out:
Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers
PHAZAR CORP, (NASDAQ: ANTP) held a meeting of the Executive Committee of the Board of Directors on May 7, 2009 and asked Mr. Clark D. Wraight, 65, Vice President and Corporate Secretary of PHAZAR CORP and President of Antenna Products Corporation, PHAZAR CORP’s principal operating subsidiary to retire or tender his resignation, effective May 31, 2009, the end of PHAZAR CORP’s current fiscal year.
Mr. Wraight is currently taking accrued vacation.
schlitz
15 years ago
S3 out.
Common Shares 47,000 $ 3.16 (1) $ 148,520 $ 8.29
held by Selling
Securities
Holders
---------------- ---------- ---------- ----- ------------- ------
Common Shares
to be issued
to a Selling
Securities
Holder
pursuant to a 50,000 $ 9.22 (2) $ 461,000 $ 25.72
option to
purchase
shares at
$9.22 per share
---------------- ----------- --------- ----- ------------- ---------------
Total: 97,000 $ 612,575 $ 34.01
schlitz
15 years ago
PHAZAR CORP Announces Third Quarter 2009 Financial Results
PHAZAR CORP, (NASDAQ: ANTP) announced today the unaudited results of operations for the three and nine month periods ended February 28, 2009.
Third Quarter Fiscal Year 2009
Revenues of $1.5 million for the third quarter decreased 53% compared to $3.2 million for the same period last year. The Company recognized a net loss of $241,039, or $ .10 per share for the third quarter, compared to net income of $334,267, or $.14 per share, in last year's fiscal third quarter.
Much of the 53% decrease in revenues year-to-year is attributable to the completion of a major antenna project for Page Iberica S.A. totaling approximately one million dollars in the third quarter last year. However, a slow-down in government and government related contracting activity was also a contributing factor in lower revenues for the three month period ended February 28, 2009.
The net loss in the third quarter of fiscal year 2009 is attributed to lower revenues and a 23% increase in sales and administration expense. The increase in sales and administration expense reflects higher compensation costs associated with newly hired employees, incremental research and development costs during the quarter for continued development of our new mesh radio wireless network product line and an increase in legal and professional fees primarily associated with the ongoing FINRA arbitration claim against UBS Financial Services.
Commenting on the quarter, Garland P. Asher, Chairman and CEO, said, “U.S. Government and related contracting activity can fluctuate significantly from quarter to quarter. This has been particularly apparent during the current change in administration process and during a period of time where current year budget issues have yet to be resolved. However, after very subdued contract activity levels during the Fall and into January, 2009, a more normal pace appeared to be resuming in February, 2009. Meanwhile, the Company remains fiscally conservative with a strong debt free Balance Sheet and cash balances exceeding $3.7 million at quarter end.”
Nine Month Period Ending February 28, 2009
The Company reported revenues for the nine-month period of $5.6 million, a decrease of 17 % compared to $6.8 million for the comparable period last year. Net loss for the nine month period was $299,950, or $.13 per share compared to net income of $624,733, or $0.27 per share for the comparable period last year.
Backlog of Orders
The Company's backlog of orders on February 28, 2009, totaled approximately $1.9 million compared to $3.2 million at February 29, 2008, a decrease of 41%. Backlog at our May 31, 2008 year-end and our second quarter of fiscal year 2009 were $2.5 million and $2.1 million, respectively. Incoming orders for the nine month period totaled $5.1 million versus $6.4 million for the comparable period last year. The Company's book to ship ratio was 89 % for the nine month period ended February 28, 2009 compared to 94% for the comparable nine month period last year.
Full report can be seen here
http://ih.advfn.com/p.php?pid=nmona&cb=1237503690&article=36950309&symbol=N^ANTP
schlitz
15 years ago
8K out, Share buy-back news:
PHAZAR CORP ANNOUNCES SHARE REPURCHASE PROGRAM
PHAZAR CORP, (NASDAQ: ANTP) announced today that at a regularly scheduled meeting, the Board of Directors of PHAZAR CORP authorized a share repurchase program, not to exceed $1,000,000. The resolution permits the Company to purchase common shares in open market transactions from time to time, subject to market conditions, at its discretion.
The shares will be held as Treasury shares and will be used from time to time to fund outstanding option grants when and if exercised, directors fees and compensation and other equity incentive based benefit programs which might arise in the future. However, the Company is not obligated to purchase any shares.
Commenting on the Board resolution, Garland P. Asher, Chairman and CEO, remarked: "Given our strong cash balances and the current negligible interest rates available on cash equivalent investment instruments, purchasing shares for Treasury with a portion of our cash should be a better potential investment return for our shareholders."
More information and analysis of PHAZAR CORP's financial results is provided in the management discussion and analysis of financial condition and results of operations in the Form 10-Q for the second quarter ended November 30, 2008, which was filed with the Securities and Exchange Commission on January 14, 2009
schlitz
15 years ago
PHAZAR CORP Announces Second Quarter 2009 Financial Results
PHAZAR CORP (NASDAQ: ANTP) announced today the unaudited results of operations for the three and six-month periods ended November 30, 2008.
Second Quarter Fiscal Year 2009 Revenues of $2.1 million for the second quarter increased 23% compared to $1.7 million for the same period last year. The Company recognized a net loss of $ 153,703, or $ 0.07 per share for the second quarter, compared to net income of $114,224, or $0.05 per share, in last year's fiscal second quarter.
The increase in revenues is attributable to $333,417 of additional shipments in the antenna product line for the three month period ended November 30, 2008. The net loss in the second quarter of fiscal year 2009 is attributed to lower gross profit margins and an increase in sales and administration expense. The lower gross profit margins were due to higher raw material costs on firm fixed price contracts. The increase in sales and administration expense reflects higher compensation costs associated with newly hired employees, incremental research and development costs during the quarter for continued development of our new mesh radio wireless networking product line and an increase in legal and professional fees primarily associated with the litigation against UBS Financial Services.
Six Month Period Ending November 30, 2008 The Company reported revenues for the six-month period of $4.1 million, an increase of 15% compared to $3.6 million for the comparable period last year. Net loss for the six-month period was $ 58,911, or $0.03 per share compared to net income of $290,466, or $0.13 per share for the comparable period last year.
Backlog of Orders The Company's backlog of orders on November 30, 2008, totaled approximately $2.1 million compared to $4.0 million at November 30, 2007, a decrease of 47.5%. Backlog at our May 31, 2008 year-end and our first quarter of fiscal year 2009 was $2.5 million and $2.0 million, respectively. Incoming orders for the six month period totaled $3.8 million versus $4.0 million for the comparable period last year.
The Company's book to ship ratio was 93% for the six month period ended November 30, 2008 compared to 114% for the comparable six month period last year.
More information and analysis of PHAZAR CORP’s financial results will be provided in the management discussion and analysis of financial condition and results of operations in the Form 10-Q for the second quarter ended November 30, 2008, estimated to be filed with the Securities and Exchange Commission on or around January 15, 2009.
schlitz
16 years ago
news on ARS ->PHAZAR CORP Announces Redemption on $1.6 Million of the Company’s Long Term Marketable Securities
PHAZAR CORP, (Nasdaq: ANTP) announced today, that on October 16, 2008, the Massachusetts Education Financing Authority (“MEFA”) redeemed $1.6 million of the Company’s long term marketable securities and paid interest due of approximately $36,000. Funding was received on October 17, 2008, with $1 million used to pay off the prior advance from UBS Financial Services, Inc. (“UBS”) taken in the form of a margin loan collateralized by the long term marketable securities.
The Company continues to hold $1.05 million of auction rate securities issued by the Massachusetts Educational Financing Authority and anticipates being able to sell its auction rate securities back to UBS at par during the timeframe, January 1, 2009 through January 11, 2011 per the “Auction Rate Securities Summary of Settlement Terms” provided by UBS.
The arbitration claim filed against UBS Financial Services, Inc. with the Financial Industry Regulatory Authority, Inc. and the injunctive action filed against UBS in the 348th Judicial District Court of Tarrant County, Texas are still in place.
schlitz
16 years ago
sidenote* Antenna Products Corporation has approximately $2,000,000 in cash and 90-day Certificates of Deposit to fund its operations.
In addition, Antenna Products Corporation has an available, unused $1,000,000 line of credit from its bank that it may draw upon to fund operations, if necessary. Antenna Products Corporation has not had to draw down on the line of credit to assist in funding its operations for over two years.
We believe that Antenna Products has more than sufficient cash on hand to fund its current operations.
eagle_2975
18 years ago
"Press Release Source: PHAZAR CORP
Nasdaq Staff Issues Delisting Letter
Friday November 4, 5:34 pm ET
FORT WORTH, Texas--(BUSINESS WIRE)--Nov. 4, 2005--On November 3, 2005, PHAZAR CORP (Nasdaq:ANTP - News) received a Nasdaq Staff Determination letter indicating that the Company fails to comply with Nasdaq Marketplace Rules 4350 (c)(4)(A) and 4350 (c)(4)(B), requirements for continued listing on the Nasdaq Stock Market and that the Company's common stock is, therefore, subject to delisting. Rules 4350 (c)(4)(A) and (B) provide:
(4) Nomination of Directors
(A) Director nominees must either be selected, or recommended
for the Board's selection, either by:
(i) a majority of the independent directors, or
(ii) A nominations committee comprised solely of
independent directors.
(B) Each issuer must certify that it has adopted a formal
written charter or board resolution, as applicable,
addressing the nominations process and such related
matters as may be required under the federal securities
laws.
Upon receipt of the Staff Determination, the Company's Board of Directors adopted resolutions establishing a Nominating Committee consisting of three independent directors and approved a Nominating Committee formal written charter that will govern the nominations process for the election of nominees to the Board of Directors of the Company. Further, the Company has certified to the Nasdaq Staff that it has taken these actions and therefore believes that the Company is now in compliance with Marketplace Rules 4350 (c)(4)(A) and (B). In the event the Staff believes that the Company is still not in compliance, the Company will request a hearing before the Nasdaq Listing Qualifications Panel to review the Staff Determination. In this event, there can be no assurance that the Panel will grant the Company's request for continued listing.
Information on PHAZAR CORP is available on the Internet web page at www.phazar.com and at www.antennaproducts.com.
The common stock of PHAZAR CORP is listed on the NASDAQ Capital Market under the trading symbol "ANTP". This press release contains forward-looking information within the meaning of Section 29A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performances and underlying assumption and other statements, which are other than statements of historical facts. Certain statements contained herein are forward-looking statements and, accordingly, involve risks and uncertainties, which could cause actual results, or outcomes to differ materially from those expressed in the forward-looking statements. The Company's expectations, beliefs and projections are expressed in good faith and are believed by the Company to have a reasonable basis, including without limitations, management's examination of historical operating trends, data contained in the Company's records and other data available from third parties, but there can be no assurance that management's expectations, beliefs or projections will result, or be achieved, or accomplished.
--------------------------------------------------------------------------------
Contact:
Antenna Products Corporation, Fort Worth
Kathy Kindle, 940-325-3301
Fax: 940-325-0716
kindle@antennaproducts.com
--------------------------------------------------------------------------------
Source: PHAZAR CORP"
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