TO THE THREAD
Simula Reports Orders and Options for the Fourth
Quarter; Total for 1998 Exceeds $163 Million
PR Newswire - January 13, 1999 08:45
PHOENIX, Jan. 13 /PRNewswire/ -- Simula, Inc. (NYSE: SMU) announced today that
for the fourth quarter ended December 31, 1998 it received approximately $18 million
in new firm orders and options for products in all three of its market segments. This
brings the total orders and options received in fiscal 1998 to approximately $163
million.
"This marks the second consecutive year of strong order volume building a backlog
base which allows us to sustain our year-to-year revenue growth," commented Don
Townsend, President of Simula, Inc.
New firm orders and options received during the fourth quarter in the government
and defense segment totaled approximately $4 million. This brings the total for 1998
to approximately $47 million for the government and defense segment. In addition,
approximately $4 million in previously reported options for parachute products in the
government and defense segment converted to firm orders during the fourth quarter.
Orders received in the automotive safety products segment, including ongoing
production of Simula's ITS(TM) automotive side impact head protection system,
totaled approximately $7 million this quarter and approximately $32 million for the
year. Approximately $6 million in new orders and options were received for airliner
seat products this quarter bringing the annual total to approximately $65 million. The
company also received new orders and options totaling approximately $1 million for
rail and mass transit seating products during the fourth quarter. Orders and options
received during 1998 for rail and mass transit seating totaled approximately $19
million.
Simula, Inc., based in Phoenix, Arizona, USA, is an acknowledged world leader in
transportation safety and energy absorption technology. Its principal product lines
are protective systems including inflatable restraints, airbags, ballistic armor, high
technology energy absorbing aircraft seating systems and rail and mass transit
seating systems. Additional information about the company is located on the
Internet at simula.com.
The estimates of contract and purchase option values and production periods
constitute forward looking information. Although such estimates are based on
reliable information and past experience, operating results are affected by a wide
variety of factors, many of which are beyond the control of the company. The factors
include the levels of orders which are received and can be shipped in a quarter;
whether and when order options are exercised; customer order patterns and
seasonality; contract mix and shifting production and delivery schedules;
manufacturing capacity and yield; costs of labor, raw materials, supplies and
equipment; technological changes; competition and competitive pressures on
pricing; economic conditions in the United States and worldwide as well as other
risks that are detailed from time to time in the company's registration statements and
periodic filings with the U.S. Securities and Exchange Commission.
SOURCE Simula, Inc.
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