Woodward Reports Second Quarter Fiscal Year 2018 Results
Source: Av News Feed
Silexica Appoints New Vice President Worldwide Sales
SAN JOSE, Calif., April 03, 2018 (GLOBE NEWSWIRE) — Silexica, the leading provider of multicore programming solutions, has appointed Andrew Caples as Vice President Worldwide Sales.
Andrew brings over 25 years of technology sales and business development experience and will build and manage a market leading sales team. He will drive Silexica’s growth in key vertical markets including automotive, wireless, aerospace and defense – outlining the clear benefits of SLX – Silexica’s programming technology.
During his career, Andrew has spent over 12 years successfully building domestic and worldwide sales teams for both start-ups and publicly traded companies. He has presented at leading IoT and Embedded Development conferences, and published articles on diverse topics such as Security for IoT devices, Safety for Industrial and Medical Systems and Software Optimization for Heterogeneous Multicore SoCs.
“With Andrew’s experience, expertise and network, we are ready to drive Silexica to the next level in our development,” says Maximilian Odendahl, CEO at Silexica. “More and more companies now see the benefits of SLX for heterogeneous computing. Andrew’s role will be to deliver the perfect solution to new customers facing unprecedented multicore programming problems.”
Andrew joins from Mentor Graphics where he was Product Line Manager. Prior to this he was Worldwide Director of Sales, Wind River. He currently lives in San Diego, California. To find out more about Andrew, read his interview on our blog: https://www.silexica.com/blog/meet-andrew-caples-the-new-vice-president-worldwide-sales/
Silexica helps software professionals to master their multicore projects by providing a unique programming technology that is enabled by state-of-the-art compiler know-how and full heterogeneity awareness. The award-winning SLX technology allows for absolute code understanding and helps to meet the most challenging multicore system requirements. Silexica was founded in 2014 as a spin-off from RWTH Aachen University and quickly expanded to become a leader in multicore programming solutions. A team of software experts in the US, Germany, and Japan work with market leading clients in the automotive, wireless and other rapidly transforming industries.
For further information or for a free trial of SLX, please visit: www.silexica.com
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/24ea39fe-e3d7-464b-87a0-1ea7118c23e3
Source: Av News Feed
VistaJet Soars to New Heights With Asia-Wide Initiatives
HONG KONG, March 29, 2018 (GLOBE NEWSWIRE) — VistaJet, the first and only global aviation company, continues to lead the industry with three major initiatives in April. These include:
The Art of Flying: The Collection of Peggy and David Rockefeller
VistaJet is delighted to sponsor the worldwide exhibitions and tour of The Collection of Peggy and David Rockefeller, set to be the most significant auction entirely dedicated to raising funds for philanthropic causes.
Following the unveiling of early highlights in Hong Kong, London and Paris, the global public tour will move to Beijing (6-7 April), Los Angeles (6-12 April) and Shanghai (10-11 April), ahead of the final exhibition in New York from 28 April. With every stop of the tour, new elements of this multi-category collection will be revealed. The sale will be conducted at Christie’s New York in Rockefeller Center during the week of 7-11 May.
To further enrich the global exhibition tour, VistaJet has created three exclusive and fully-customizable The Art of Flying experiences for VistaJet and Christie’s clients.
The Rockefeller Experience will allow up to 10 guests travelling with VistaJet on one of its iconic silver and red jets a rare opportunity for a behind-the-scenes private discovery tour of Kykuit*, the historical National Trust landmark of the Rockefeller Estate in Pocantico Hills or a private tour of the Rockefeller Archive Center in Westchester County before enjoying a Rockefeller-inspired multi-course feast at chef Dan Barber’s much-acclaimed Blue Hill at Stone Barns restaurant in upstate New York. Guests will also receive a personal tour of The Collection of Peggy and David Rockefeller exhibition in New York and will be invited to attend a reception to view the live auction at Christie’s New York with leading art experts.
The World of Art Experience will offer customers the opportunity to travel to The Collection of Peggy and David Rockefeller exhibitions on-board VistaJet for a private tour of the emblematic collection at each location. By booking a multi-leg journey, VistaJet will transport clients and their art at no additional cost on flights anytime, anywhere**.
The Direct Experience will offer any guest flying with VistaJet to any of the exhibitions an invitation to receive a complimentary membership to VistaJet Direct, worth $10,000. The Direct membership gives clients access to available VistaJet private flights at special rates from any mobile device, through the world’s first end-to-end business jet app.
VistaJet: Leading the Industry, Identifying the Future
With a fleet of over 70 identically-branded business aircraft, VistaJet has flown over 300,000 passengers on over 120,000 flights to over 180 countries and offers guaranteed availability with as little as 24 hours’ notice for its Program members, no matter where in the world they are based.
With an expanding customer base in Asia, VistaJet recorded a 27% increase in new Program members in the region in 2017. Catering to China’s high-net-worth individuals, VistaJet is focused on individualized service, attention to detail and personalized experiences.
Reinforcing its position as an industry leader, VistaJet will release The Jet Traveler Report, a comprehensive research paper, in Shanghai on 16 April, providing a global perspective of who flies privately and how. The detailed report will identify the market split for ultra high net worth (UHNW) population, the growing markets, distinguish the competing business models and pinpoint the factors that influence how business leaders and UHNWs choose to fly.
The Jet Traveler Report will also identify future trends in private aviation, discuss the varied business aviation landscape and highlight the services truly valued by fliers.
Asian Business Aviation Conference & Exhibition (ABACE)
Media will have a chance to view VistaJet’s Global 6000 aircraft at the ABACE from 17-19 April. Considered the most advanced and long-range premium aircraft, the Global 6000 boasts the widest cabin in its category and can welcome up to 14 passengers on board.
Leona Qi, VistaJet’s President of Asia comments: “ABACE presents a rare opportunity for visitors to explore a VistaJet aircraft up close and discover for themselves the attention to detail and luxury experience. I, along with our Asia team, will be available to welcome guests and showcase what makes VistaJet the number one operator in the region.”
While media will be granted exclusive access to the aircraft during an all-day preview on 16 April, private appointments can be made via VistaJet’s WeChat account. The WeChat booking platform also allows customers to book a flight directly.
* pending travel dates
** Insurance and transportation terms and conditions apply
VistaJet is the first and only global aviation company. On its fleet of over 70 silver and red business jets, VistaJet has flown corporations, governments and private clients to 187 countries, covering 96% of the world. Founded in 2004 by Thomas Flohr, the company pioneered an innovative business model where customers have access to an entire fleet whilst paying only for the hours they fly, free of the responsibilities and asset risks linked to aircraft ownership. VistaJet’s signature Program membership offers customers a bespoke subscription of flight hours on its fleet of mid and long-range jets, to fly them anytime, anywhere. Customers can also request Direct one-off flights through the industry’s first end-to-end booking app or a 24/7 global team.
More VistaJet information and news at vistajet.com
|Amy Yang||Angela Wong|
|VistaJet International Ltd||CatchOn|
|T: +852 2901 0502||T: +852-2807-0600|
|M: +852 9080 3985||M: +852-6487-6868|
Photos accompanying this announcement are available at:
Source: Av News Feed
香港, March 29, 2018 (GLOBE NEWSWIRE) — 维思达公务机是全球首家也是唯一一家真正意义上的全球公务航空公司。今年 4 月，维思达公务机将推出三项主要活动，继续引领业界。这三项活动包括：
继这些藏品于去年在香港、伦敦和巴黎相继亮相并引发轰动后，此次全球巡展将继续前往北京（4 月 6 日至 7 日）、洛杉矶（4 月 6 日至 12 日）和上海（4 月 10 日至 11 日），并从 4 月 28 日开始在纽约举办谢幕展览。在拍卖前巡展期间的每一站，都会有新的艺术品和展品亮相。此次拍卖将于 5 月 7 日至 11 日的一周在纽约佳士得洛克菲勒中心举行。
体验一 The Rockefeller Experience——为多达 10 名客户呈献千载难逢的尊贵体验*。Kykuit 位于波坎蒂科山区 (Pocantico Hills)，是洛克菲勒庄园的国民信托地标建筑，客户可搭乘标志性炫酷银红维思达公务机飞往纽约，开启一场 Kykuit 私人探索之旅，或者来到位于威斯特彻斯特郡的洛克菲勒档案中心开展一场私人参观之旅。客户随后将前往纽约北部久负盛名的石仓农场蓝山餐厅，品尝由主厨丹·巴伯 (Dan Barber) 带来的各式洛克菲勒风情的珍贵佳肴。随后，宾客们将受邀到佩吉和大卫·洛克菲勒珍藏展览的私人参观之旅，与诸位顶级艺术专家一起出席酒会，参与纽约佳士得的现场拍卖。
体验二 The World of Art Experience——客户将搭乘维思达公务机前往佩吉及大卫·洛克菲勒夫妇珍藏展览，领略每一站典藏的私人之旅。预订多航段旅程的客户，将可以在任何时间、任何地点享受维思达公务机免费护送客户及其艺术品的服务**。
体验三 The Direct Experience——所有搭乘维思达公务机前往任何一站展览的客户，都将免费获赠价值 1 万美元的 VistaJet Direct 线上会员计划会籍。成为 Direct 会员后，即可轻松在任意移动设备上使用全球首个端对端公务机 APP，快速预订所有可预订及特价维思达公务机航班。
维思达公务机拥有一支由 70 余架统一品牌飞机组成的公务机机队，执行超过 12 万次航班，抵达 180 多个国家和地区，运送了 30 余万名乘客。无论会员客户身处何地，在最少24小时通知的情况下，维思达公务机均可保证运力。
随着亚洲客户不断增加，2017 年，维思达公务机在亚洲的会员新增了 27%。面向中国高净值客户，维思达公务机注重细节、专注于提供个性化服务和体验。
为加强其全球领先地位，维思达公务机将于 4 月 16 日在上海发布一份综合研究报告——《公务机旅行者报告》，从全球的视角探讨公务机用户以及他们如何使用公务机。这份详细报告将确定超高净值人士的市场划分和新兴市场，区分相互竞争的商业模式，并指出影响商业领袖和超高净值人士选择公务机出行的因素。
4 月 17 日至 19 日，维思达公务机将在 ABACE 上展出环球 6000 公务机。环球 6000 公务机被认为是最先进的超远程公务机。它的客舱是同级别公务机中最宽敞的，可以容纳多达 14 名乘客。
4 月 16 日预展期间，各大媒体可获得维思达公务机独家参访，可以通过维思达公务机微信公众号进行预约。客户还可以通过微信公众号的预订平台直接预订航班。
维思达公务机是首家及唯 一一家真正意义上的公务航空公司。维思达公务机的70 多台银色机身红条纹的公务机机队已将许多企业、政府和私人客户送抵187 个国家，覆盖全球96%的地区。Thomas Flohr 于 2004 年成立维思达公务机，率先开创了创新的航班商业模式，即客户只需承担实际飞行小时的费用，就可获得整个机队的候命，而无需涉及与飞机所有权有关的责任与资产风险。维思达公务机独具特色的会员计划为客户提供了中远程航班时数客制化订购方案，方便客户随时随地启航。客户还可以通过业内首个端到端预订应用程序或24 小时全球团队预约一次性的直航航班。
|Amy Yang||Angela Wong|
|电话：+852 2901 0502||电话：+852 -2807 -0600|
|手机：+852 9080 3985||手机：+852 -6487 -6868|
Source: Av News Feed
CPI Aerostructures Announces Fourth Quarter and Full Year 2017 Financial Results
– Company Reports 2017 Pre-Tax Income at Upper End of Range of Guidance, Operating
Cash Flow in Excess of Expectations; Defense Backlog at $301.3 Million –
– Separately Company Announces Acquisition of Aerospace Component and Assemblies Manufacturer Welding Metallurgy, Inc. –
– Management to Host Conference Call at 8:30 a.m. ET Today –
EDGEWOOD, N.Y., March 22, 2018 (GLOBE NEWSWIRE) — CPI Aerostructures, Inc. (“CPI Aero®”) (NYSE American:CVU) today reported fourth-quarter and full-year 2017 financial results.
Full Year 2017 vs. Full Year 2016
Fourth Quarter 2017 vs. Fourth Quarter 2016
“Fiscal 2017 was a turning point for CPI Aero during which we returned to annual profitability and positive operating cash flow while continuing to execute on our defense-market growth strategy. I am especially pleased to report pre-tax income at the upper range of our financial guidance and operating cash flow in excess of our expectations reflecting the benefits gained from an improved cost structure and leaner operations,” stated Douglas McCrosson, president and chief executive officer. “During the year, our strategic focus on the defense market gave us a year-end backlog of $301.3 million that includes awards for some of the most advanced military aircraft programs, notably the Lockheed Martin’s F-35 Lighting II, Sikorsky’s UH-60 Black Hawk, and UTC’s TacSAR reconnaissance system, as well as new awards or contract extensions on current platforms. Long-term defense budget trends should continue to drive top-line opportunities for defense primes and larger tier 1 suppliers, and we expect to continue to win our fair share based on our growing reputation in the military supply chain as a high quality, lower cost alternative to in-house assembly work.”
2018 Financial Guidance
CPI Aero issued full-year 2018 financial guidance assuming the Company closes the acquisition of WMI on May 1, 2018:
Commenting on the Company’s financial guidance for fiscal 2018, Mr. McCrosson stated, “Our financial guidance for fiscal 2018, which includes the addition of WMI for the last eight months of the year, excludes the contributions from new program awards that have been delayed as the Department of Defense continues to operate on a continuing resolution basis in addition to near-term uncertainty over the U.S. defense budget priorities. Having implemented operational improvements over the past three years, we are committed to increasing top-line growth by fully leveraging our improved cost structure and enhanced competitiveness. Rather than wait for budgetary resolutions, we are actively exploring inorganic growth, targeting opportunities that will give us more defense content and ensure we are on a growth trajectory. As an example, the announced acquisition of WMI today further aligns us to long-term defense industry trends with unique capabilities and complimentary programs and customers.
“In pursuit of organic growth, we recently added executive level leadership with extensive experience at a leading global defense company to head our business development and strategy across key growth segments, particularly in the areas of electronic warfare (EW), intelligence, surveillance and reconnaissance (ISR), and autonomous systems. With a multi-pronged strategy for growth in fiscal 2018 – our backlog, a strong bid pipeline of key growth segments and additional opportunities – we have the tools to ensure our long-term success,” concluded Mr. McCrosson.
Management will host a conference call today at 8:30 a.m. ET to discuss the company’s results as well as recent corporate developments. After opening remarks, there will be a question and answer period. Interested parties may participate in the call by dialing 844-378-6486 or 412-542-4181. Please call in 10 minutes before the conference call is scheduled to begin. The conference call will also be broadcast live over the Internet. Additionally, a slide presentation will accompany the conference call. To listen to the live call, please go to www.cpiaero.com, click on the Investor Relations section, then to the Event Calendar. If you are unable to listen live, the conference call will be archived and can be accessed for approximately 90 days.
About CPI Aero
CPI Aero is a U.S. manufacturer of structural assemblies for fixed wing aircraft, helicopters and airborne Intelligence Surveillance and Reconnaissance pod systems in both the commercial aerospace and national security markets. Within the global aerostructure supply chain, CPI Aero is either a Tier 1 supplier to aircraft OEMs or a Tier 2 subcontractor to major Tier 1 manufacturers. CPI also is a prime contractor to the U.S. Department of Defense, primarily the Air Force. In conjunction with its assembly operations, CPI Aero provides engineering, program management, supply chain management, and MRO services. CPI Aero is included in the Russell Microcap® Index.
The above statements include forward looking statements that involve risks and uncertainties, which are described from time to time in CPI Aero’s SEC reports, including CPI Aero’s Form 10-K for the year ended December 31, 2016, and Form 10-Q for the three-month periods ended March 31, 2017, June 30, 2017, and September 30, 2017.
CPI Aero® is a registered trademark of CPI Aerostructures, Inc.
|Vincent Palazzolo||Investor Relations Counsel:|
|Chief Financial Officer||LHA|
|CPI Aero||Jody Burfening/Sanjay M. Hurry|
|(631) 586-5200||(212) 838-3777|
– Financial Tables to Follow –
CPI AEROSTRUCTURES, INC.
STATEMENTS OF OPERATIONS
|Years ended December 31,||2017||2016|
|Cost of sales||62,637,232||77,010,940|
|Selling, general and administrative expenses||8,449,594||8,614,190|
|Income (loss) from operations||10,196,322||(4,295,272||)|
|Total other expense, net||(1,718,688||)||(1,379,304||)|
|Income (loss) before provision for (benefit from) income taxes||8,477,634||(5,674,576||)|
|Provision for (benefit from) income taxes||2,710,000||(2,066,000||)|
|Net income (loss)||$5,767,634||($3,608,576||)|
|Income (loss) per common share – basic||$0.65||($0.42||)|
|Income (loss) per common share – diluted||$0.65||($0.42||)|
|Shares used in computing earnings per common share:|
CPI AEROSTRUCTURES, INC.
|December 31,||December 31,|
|Accounts receivable, net||5,379,821||8,514,613|
|Costs and estimated earnings in excess of billings on uncompleted contracts||111,158,551||99,578,526|
|Prepaid expenses and other current assets||2,413,187||2,155,481|
|Total current assets||120,382,436||111,288,206|
|Property and equipment, net||2,046,942||2,298,610|
|Deferred income taxes||1,566,818||3,952,598|
|LIABILITIES AND SHAREHOLDERS’ EQUITY|
|Billings in excess of costs and estimated earnings on uncompleted contracts||74,657||115,337|
|Current portion of long-term debt||2,009,000||1,341,924|
|Line of credit||22,838,685||22,438,685|
|Income tax payable||109,327||6,000|
|Total current liabilities||42,244,635||40,692,721|
|Long-term debt, net of current portion||7,019,468||8,860,724|
|Common stock – $.001 par value; authorized 50,000,000 shares, 8,864,319 and 8,739,836 shares, respectively, issued and outstanding||8,863||8,738|
|Additional paid-in capital||53,770,618||52,824,950|
|Accumulated other comprehensive loss||(14,800||)||(9,000||)|
|Total Shareholders’ Equity||74,313,333||67,605,706|
|Total Liabilities and Shareholders’ Equity||$124,184,499||$117,791,895|
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