Ballistic Recovery Systems (CE) (USOTC:BRSI)
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Ballistic Recovery Systems, Inc. (OTCBB:BRSI or
BRSI.OB)(BRSparachutes.com), a manufacturer of whole-airplane
parachute recovery systems for general aviation and recreational
aircraft, announced a percentage of overall revenues will be invested
in parachute canopy design research and technology to enhance the
capability and safety of next generation systems.
The BRS board recently elected to fund an internal Research &
Development program that will be modeled after the company's recently
completed NASA contract. BRS Board Chairman Bob Nelson said, "We
believe this investment in cutting edge materials, shapes and
construction techniques will allow us to continue to provide future
products to meet advanced customer needs. The market's rapidly growing
acceptance of whole airplane - and now including jet - parachute
systems is demanding even greater performance from our already highly
reliable systems, and this investment will provide necessary funding.
We're willing to make this investment as we expect our gross margin
percentage to continue its positive trend along with the top line
revenue growth. If it were to mean accepting more modest profits in
the short term to achieve this goal, we believe the effect on future
business wins could be substantial."
BRS Founder Boris Popov said, "A very important goal of this
project is to allow us to use dedicated resources aimed at a specific
development project that has a bit of a longer time horizon. I've
always been committed to innovative thinking, and this novel method of
funding allows for greater experimentation and technological
creativity."
"While the rest of BRS is dedicated to the modern lean methods of
delivering just-in-time products to OEM customers, this new funding
investment allows us to take defined risks on projects that can have
the potential to expand OEM business while expanding our business into
new commercial and military applications that we are currently
aggressively pursuing," Williams added.
BRS is a South St. Paul, Minnesota, based company that designs,
manufactures and distributes whole-plane emergency parachute systems
for use on general aviation and recreational aircraft. Since 1981, BRS
has delivered more than 23,000 parachute systems to aircraft owners
around the world including over 2,800 systems on certified aircraft
like the Cirrus Design aircraft manufactured in Duluth, Minnesota. To
date, BRS parachute recovery systems have been credited with saving
the lives of 194 pilots and passengers.
The forward looking matters discussed here should be considered
subject to risks and uncertainties, including market fluctuations,
pricing, procurement, manufacturing efficiencies, and other risks that
could cause the actual results to differ materially from those
projected. For more information, review the company's filings with the
Securities and Exchange Commission, particularly the Company's annual
report on Form 10-KSB.
For more information on BRS contact: Larry E. Williams; BRS, Inc:
Fleming Field, 300 Airport Road; South St. Paul, MN 55075; USA
(LarryWilliams@BRSparachutes.com) TEL 651.457.7491 ; FAX 651.457.8651