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To: MCsweet who wrote (35952)	11/16/2009 10:31:14 AM
From: Paul Lee	Read Replies (1) \| Respond to of 78704

I can only tell you what the CEO has told me, obviously there are no guarantees

To: MCsweet who wrote (35952)	11/18/2009 12:59:17 PM
From: Paul Lee	Respond to of 78704

CVU related Mc, not to worry about bugging me, the question you ask is very insightful and i would normally agree with your conclusion, but this situation is different. You will note that a few years back when they lost a lot of money their cash lost was not nearly as large because the gap closed. On this point the company's business model has completely changed. They are now subcontractors to major OEM's, and not nearly as dependent on the US Gov. as they were then. What you have to remember is the company uses % completion accounting, it is growing at an extremely fast rate and it's contracts are for long term projects (anywhere from 6 - 9 months or longer to build out). The 3 major programs they are now engaged in, The G 650, the A-10 and Sikorsky work are not going away anytime soon (unless they really screwed up). Their cash gap will not reverse until they get in full production on these programs, and that not will not be before 2011. (An example of this is on the G 650, where this year they will only be producing (or shipping) the first few shipsets that will be used on the test planes, they have ordered many of the parts that will be used in the beginning of the production orders. hope this helps