Decreased net sales had a significant impact on net income for the quarter.
Aerosonic Corp.'s first quarter sales for the 2011 fiscal year decreased 21% compared to last year, causing profits to fall as well. Sales were down $1.84 million, from $8.77 million in 2010 to $6.93 million this year.
That drop led to a greater than 80% hit to the Clearwater company's profits. The aircraft parts manufacturer reported earnings per share of $0.07 this quarter, down from $0.38 last year.
Beyond the overall decrease in sales activity, a changed product mix hurt the company's profit margins. Aerosonic sold fewer of its transmitter products in the last three months, bringing margins down from 34.9% to 31.1%.
In addition to its Clearwater headquarters, Aerosonic Corp. (symbol: AIM) operates from a location in Charlottesville, Va.