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Breeze-Eastern Q1 Profit Rises - Quick Facts

(RTTNews) - Breeze-Eastern Corp. (BZC), a manufacturer of lifting equipment for specialty aerospace and defense applications, Monday reported a higher profit for the first quarter of fiscal 2011, driven mainly by increase in revenues.

For the quarter, net income grew to $0.59 million from $0.36 million last year. On a per-share basis, earnings improved to $0.06 from $0.04 in the comparable quarter a year ago.

The Whippany, New Jersey-headquartered company's net quarterly sales rose 24% to $16.54 million from $13.36 million in the previous year's first quarter.

Chief Executive Officer Mike Harlan said, "We are glad to have started our Fiscal 2011 with a strong First Quarter, with increased bookings, sales, and income and lower inventory and debt vs. the same quarter a year ago."

Looking ahead, Harlan added that the company expects second quarter to be stronger over last year, and the sequential first quarter.