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

144 220 34 15 749 Aeromechanics Depreciation and amortization 336 are made of steel and aluminum machined and 77 48 869 Capital expenditures. . . . . . . . . . . 653 91 fabricated at the Metric Systems plant. Identifiable assets at December 3 The Aeromechanics Division of Metric Systems 4, 369 534 31, 939 Air cargo delivery systems are sold to the United 1981 14, 494 4, 555 6, 987 designs and manufactures specialized containers for States Military, the armed forces of certain other coun- transporting military hardware and munitions, plus sys- tries and to aircraft manufacturers. Substantially all Year Ended December 31 1980 tems used to air drop military equipment and supplies. 7, 631 12, 48 1, 129 35, 803 sales of specialized containers are made to military Sales 4, 895 Air cargo delivery systems consist of specialized rails, load- restraining devices, aluminum pallets and an agencies in the United States. Profit from operations. . . . . . . . 884 513 758 473 550) 2, 078 195 640) Other products designed and manufactured by Metric Allocated corporate expenses 298 147 Interest expense 347 120 465 4 56 992 Systems' Aeromechanics Division include an anti- tank Expendable Radar Simulator mine sowing device and aircraft ground support equip- Income before income taxes and 239 246 98 469 34 086 extraordinary item. ment, such as aircraft maintenance stands, a trailer- 339 100 198 32 14 683 mounted jet engine cleaning system for corrosion Depreciation and amortization 606 1, 202 133 41 20 2, 002 Capital expenditures. . . . . . . . . . Identifiable assets at December 31, 1980 1 394 4, 670 6, 919 4, 599 662 29, 244 Micropuck@ Ferrite Isolator ar Ended December 31 1979 16, 169 6, 221 15, 385 2, 589 12 40, 376 les................. . 390 963 180 64 643) 3, 531 rofit from operations. . . . . . . . 318 124 235 677) Allocated corporate expenses 290 52 517 24 87 970 Interest expense . . . . . . . . . . . . Income before income taxes and 782 787 428 617 53) 2, 56 extraordinary item 305 78 206 40 28 657 Depreciation and amortization 746 154 309 20 229 Capitl!l expenditures. . . . . . . . . . . Identifiable assets at December 3 1, 1979 8, 940 2, 850 8, 008 4, 333 2, 562 26, 693 4 13 TECH. SYM CORPORA TIOH Consolidated Statement of ncome December 31 of credit with two banks, restrictions exist as to 1981 1980 amounts that may be distributed from subsidiaries to For the Year Ended December 3 Long term receivables comprise the Tech- Sym Corporation At December 3 198 such following: 1981 1980 979 7% to 10% notes secured by real restricted net assets aggregated approximately property due in annual and semi- 5, 300,000. Sales 40, 240, 754 35, 803, 23 40,376, 162 annual