Avcorp revenues down slightly YoY

Avcorp Industries Inc. (TSX: AVP) said that during the quarter ended June 30, 2015 its revenues totaled USD20,369,000 as compared to USD21,134,000 revenue for the same quarter in the previous year.

2015 year-to date revenues for the Avcorp Group have increased for production and deliveries of commercial aerospace products, while government budgetary curtailed defense spending has caused deliveries of defense aerospace products to be lesser in 2015 than for the same two quarter period in 2014. Year-to-date 2015 revenues amount to USD36,030,000 as compared to USD38,685,000 for the same period in 2014.

Increased production by Comtek of composite floor panels for delivery to Bombardier Aerospace´s regional and business jets floors product lines, strong sales into the composite floor panel aftermarket, as well as continued higher than historical composite and metal aircraft structure repairs on a “loyalty” program with key accounts, has significantly contributed to increasing Comtek´s second quarter revenues by 13 percent over the same quarter in 2014.

Avcorp designs and builds major airframe structures for some of the world´s leading aircraft companies, including BAE Systems, Boeing and Bombardier. With more than 50 years of experience, over 388 skilled employees and 340,000 square feet of facilities in Delta BC and Burlington ON, Avcorp offers integrated composite and metallic aircraft structures to aircraft manufacturers, a distinct advantage in the pursuit of contracts for new aircraft designs, which require lower-cost, light weight, strong, reliable structures.