CEO Luxton
CEO Luxton
balance cost due effect expenses fiscal foresee further increase intake loss measures operating order pleased previous quarter reduction reflects report results savings selling since stronger year
We are pleased to be able to report that the operating loss in the first quarter narrowed significantly over the previous quarter. This reflects a reduction in selling and administrative expenses due to cost savings measures that we have implemented since the fiscal year began. With further cost-savings still to take effect and with a significant increase in new order intake since Dec. 31, we foresee much stronger operating results for the balance of 2006.
achieve amount continue costs economies expect full further increased intend lower near original plan progress provide restore savings update work
We intend to achieve the full amount of savings in the original plan and we continue to look for further economies as we work to restore profitability through lower costs and increased revenues. We expect to be able to provide an update on our progress in the very near future.
benefit business cost counter electronic fiscal initial introduced lower measures net operating profit project quarter reflected results second strong stronger third visibility year
The second quarter results reflected the initial benefit of the cost-savings measures introduced in January, 2006. With a strong backlog in our electronic counter measures business and a lower operating cost structure, we now have enough visibility to project an even stronger third quarter as well as a net profit for the fiscal year overall.
anticipate fiscal low mark quarter revenue water year
We anticipate that the first quarter of this fiscal year will be the low water mark in the company's revenue run-rate.