1. Sales from EBTEC were about $300k lower. This was due to one of it's customers getting acquired during the quarter. EDAC expects these sales to be restored after the acquisition is finalized.
2. The Trent 900 parts process is still ramping up so it is not yet optimized. This is causing margins to be lower. Expects the rampup to be in full swing after the 2nd quarter when margins will improve on this program.
3. Moving expenses increased by about $300K this quarter, and this additional expense will continue throughout 2013. This caused margins to be slightly lower than in the last quarter.
4. Plainville is expected to be sold after Q2.
5. Pratt is still in the process of determining partners for the geared turbofan. Pratt expected to announce it by end of 2012 but that did not happen. No estimate as to when the announcement(s) will be made.
6. Pagano is not expecting any impact due to the sequester.
Thanks for the debrief on the cc Argyle. Wish we had someone like you (or you?) over on the ATRO or LMIA bb. Good enough quarter to suggest (at least to me) that we'll continue to see upward move thru the year. Thanks again.
What was the language around "Plainville is expected to be sold after Q2". Do they have a buyer on the line now? Or, are they just putting up the For Sale sign? Huge difference. Especially with industrial property.
I had a house I expected to sell in 2008. I didn't get rid of that anchor until late 2011.
xds gave the answer I heard, they already have someone lined up. I saw a link to the conf call yesterday from some press release, e-mailed it to myself and used that link this morning. The conf call had a "submit question" link and I asked a few questions that way. They were totally ignored.