HSR...AMex 1.60...6.7m shares 52wh 4.70...have been saving this one (GGG)..it is now at what I consider to be a prime buying price historically...on the Amex around 1.60...I have never lost money on this company and I have probably bot and sold it 15 times or more...first here is a description then some notes then the 9mo numbers..after this post go to next one then next one:
Hi-Shear Technology Corporation designs and manufactures high reliability pyrotechnic, mechanical and electronic products for the aerospace industry, and has adapted its technology to a select group of emerging non-aerospace products. The Company's aerospace products are primarily used in commercial space satellites and launch vehicles, exploration missions, strategic missiles, advanced fighter aircraft and military systems. Customers such as commercial satellite manufacturers, launch vehicle assemblers, the United States Government including National Aeronautics & Space Administration (NASA), foreign space agencies and commercial launch ventures, as well as others in the aerospace business use the Company's aerospace products.
The Company's products were originally introduced for the United States space program, and consist primarily of pyrotechnic power cartridges and various types of aerospace separation devices designed to meet the demand for reliable high-performance devices with the strength to fasten two structures under rigorous conditions and then provide quick release upon command. In addition, the Company designs and manufactures electronic systems that sequentially fire the pyrotechnic devices according to pre-programmed parameters. These electronic devices are used in missiles, launch vehicles, fighter aircraft ejection seats and other applications. Hi-Shear has also adapted its technology to produce advanced competitively priced products for non-aerospace markets.
Satellites, missiles and other space vehicles require substantial stand-by power to perform certain timing-dependent functions such as separation, cutting and deployment. Hi-Shear designs, markets and manufactures pyrotechnic power cartridges/initiators that have a high energy output. These power cartridges are hermetically sealed electro-explosive devices that are compact, lightweight, environment- and corrosion-resistant and designed to operate with ultra-high reliability. The power cartridge provides the energy to operate the Company's separation devices, pin pullers, thrusters, actuators and cutters. These devices are used to open satellite doors, deploy solar panels, booms, communications antennae, missile fins and in driving stage separation on many major launch vehicles.
The Company's cartridge actuated devices are gas-activated products utilized for satellites, missiles and other space vehicles. These devices include separation nuts, separation bolts, thrusters, wing/fin actuators, cutters and pin pullers. They are designed for use as standard high-strength fastening hardware with the ability to separate and/or release components or structures on command. These devices provide the low-shock mechanical action required for rapid separation or deployment of structures or components in multistage launch vehicles, nose cones and capsules, launching pads and sleds, ejection seats, booster rockets, tanks, solar arrays, antenna booms and other devices. The Company maintains an active development program for new designs, including low-shock deployment systems for the increasingly lighter satellites used in communications and other commercial applications.
Hi-Shear is a supplier of sequencers for the United States Air Force ACES II crew ejection seat now placed in many fighter aircraft, including the A-10, B-2, F-15 and F-16. The Company developed the Analog Recovery Sequencer, which electronically triggers various ordnance events that deploy parachutes and rockets in connection with the pilot's ejection from fighter aircraft. These safety units have a service life of seven years after which they must be replaced or refurbished.
The Company also supplies electronic safe-arm fuzes for tactical and conventional military programs. Its upgraded Patriot (PAC-3) missile system product is fully developed and has entered the low rate initial production (LRIP) and full-scale production phases. The Company employs a proprietary initiator that, when removed, permits full testing of the electronics without risk to personnel or damaging the integrity of the missile system. This allows for economical system safety checks, and also a shelf life estimated at 30 years.
Hi-Shear has been actively pursuing the development of laser ordnance and initiation systems and has continued to evolve and enhance its laser-firing products. Hi-Shear's laser pyro-initiator control system is used to fire the hold-down post detonators on the X-33 Space Vehicle. This system provides the full optical energy to test, perform diagnostics and initiate ordnance devices on this futuristic space vehicle. The Company has also developed and tested a breech-mounted laser that delivers the full optical energy to ignite the main charge propellant for the Army's 155-millimeter (mm) Howitzer.
The Company sells emergency cutters that are fast, safe and reliable rescue tools designed for use in a wide range of emergency situations for fire and rescue, law enforcement and military rescue teams. The LIFESHEAR cutter's lightweight, mobility, ease-of-use and inexpensive design enables it to quickly cut through a variety of tough materials and auto parts so that a victim can readily be extracted from a life-threatening situation or access can be quickly gained to a locked area. The Company manufactures the LIFESHEAR and its accompanying power cartridges for sale in the United States, Canada and Japan. Hi-Shear's European licensee is manufacturing and selling the LIFESHEAR product for sales in its assigned territory and forwarding royalties on these sales to the Company.
Hi-Shear has developed and patented automobile air bag inflator technology. The Company's inflator propellants and the gas it produces are benign and environmentally safe in contrast to the toxic gases and materials used in existing air bag systems. Hi-Shear has established proprietary rights in the field of air bag inflator technology. It seeks an alliance with a major air bag inflator manufacturer to strategically exploit the benefits of this technology in the marketplace. |
