Fort Walton Beach Council minutes — 03-30-1982 Special — reading text

On March 21, 1978, the Company was charged by full production in 1982 and 1983. Two programs on extraction system which are installed in military trans- ments covering manufacturing and other facilities which the United States District Court with the responsibility which the first production orders were received in 1981 port aircraft to permit equipment and supplies to be air expire at various dates to 1985. Total rentals charged of distributing the remaining funds of $ 280, 584 to vali- were the AN / ALR- 62 countermeasures receiver for the dropped. Equipment is loaded on the light-weight pal- ","" c to operations under such operating leases for years 0 dated General Class Claimants in the previously con- U. S. Air Force and the multi- role combat aircraft lets which are locked into the rails on the floor of t 81, 1980 and 1979 totaled $ 93,000, $ 110, 000, and aircraft and mechanically released from the rear of t cluded plenary lawsuit. In accordance with the Court' s European) countermeasures receiver program. W2, 000, respectively. Hybrid thin- film products incorporate both solid state plane while in flight. order, $ 211, 342 which remained undistributed to such Minimum rental commitments under noncancelable t features and etched microcircuitry in a variety of Systems manufactured by Metric Systems inclu Claimants on March 21, 198 became the property of microwave oscillators, multipliers, amplifiers and comb conventional delivery systems used at altitudes erating leases in effect at December 31, 1981 total the Company. These funds were accounted for as an 1, 000 to 2, 000 feet or higher and a low altitu 250, 000 follows: $ 982 98, 000; generators. These components have applications in as increase in Additional Capita radar, navigation, communications and electronic parachute extraction system (" LAPES") developed b 1 9 8 3 - $ 8 1, 0 0 0 9 8 4 58 0 0 0: and Consolidated sales include sales under United States warfare systems. These products are also called Metric Systems which permits equipment to be 1985 $ 13, 000. extracted by parachute from cargo aircraft at very low Government contracts or sub- contracts subject to rene- microwave integrated circuits. A significant order was At December 31, 1981 and 1980 the Company held In booked for a component of the Sparrow radar homing altitudes with a high degree of accuracy. gotiation and other product sales covered by warranty. missile ($ 4 1.million during the year) which was the first Metric Systems' restraint and cargo handling sys- trust $ 200, 705 and $ 201, 562, respectively, and had The Company has no commitments or contingent liabili- tems were originally applied to the Lockheed C- 130, L- reserved 58, 674 and 58, 902 shares of its Common year of full- scale production of that missile. ties which, in the judgment of Management, would result TRAK also manufactures microwave isolators and cir- 100, C- 141 and C- 5 aircraft only. Some four or five Stock, respectively, for distribution to Creditors Class 6 in losses which would materially affect the Company' s culators that include ferrite and dielectric materials years ago a system was designed for the CASA C- 212 whose claims had been approved by the Court in the financial positions. produced by TRAK in its own facility. They are small, Spain) airplane. During 1981, systems for two addi- Company' s Reorganization Proceedings which were tional aircraft, the deHavilland Buffalo and the Aeritalia light-weight components used in most types of finally concluded in 977. According to the; Court's microwave systems to control or direct the flow of G- 222, were qualified. Demonstration of LAPES air microwave signals. drops from the Buffalo were a feature of the 1981 Paris A new addition to this Air Show. Note 10 - Operating Segment Information: product line in 1981 was the thousands of dollars) Metric Systems manufactures specialized containers Micropuck@ isolator, which was introduced at the June used to transport missiles, torpedos and other muni- Aero- Building Real Consol. 1981 U. S. Microwave Conference. This fully shielded Electronics mechanics Materials Estate Corporate idated isolator is about the size of a transistor and can be tions and military hardware. It has also produced con- tainers for the shipment of non- military equipment, Year Ended December 31 1981 mounted on a printed circuit board in the same manner 20, 543 6, 210 12, 950 538 40, 24 as a transistor. including satellite communications terminals, antennas Sales TRAK' s operations are conducted in a company- and similar equipment. This part of our business Profit from operations. . . . . . . . 2, 386 730 962 174 649) 3, 603 394 115 203 712) owned modern plant of approximately 58, 000 square recorded a substantial increase in bookings in 1981, Allocated corporate expenses Interest expense 587 174 536 5 35 337 feet on a ten- acre tract next to the Tampa International much of which was associated with defense satellite Income before income taxes and Airport. communications equipment. The rails, load restraints, 441 223 169 28 2, 266 extraordinary item 405 pallets and containers used in the air cargo operations