Question-and-Answer Session
Operator
(Operator instructions). Your first question comes from Steve Denault from Northland Securities. Your line is open.
Steve Denault – Northland Securities
Good morning everyone, nice quarter. I just wanted to make sure that I heard everything correct. So your EPS guidance for this year is $0.28 to $0.30?
John Long
Right, that is correct Steve, yes.
Steve Denault – Northland Securities
Okay, what was the backlog, I totally missed it.
John Long
Roman, do you want to touch on that?
Roman Ptakowski
The backlog at the end of the quarter was $39 million.
Steve Denault – Northland Securities
Okay.
Roman Ptakowski
And it has grown –
John Long
In the first three weeks of the new quarter we booked an additional $4 million.
Roman Ptakowski
$4 million, our backlog has grown since the end of the quarter.
Steve Denault – Northland Securities
Okay then I heard $50 million military proposals outstanding, what was the general aviation proposals outstanding?
Roman Ptakowski
Commercial and GA combined it is about $55 million, more than $55 million.
Steve Denault – Northland Securities
Okay and of course I missed your comments on the Cessna’s PC, did you say next month?
Geoff Hedrick
They are going to go into FAA flight test which means the FAA is going to fly four and they expect STC issued I think in June, isn’t it? Yes, they are going to fly test in May with the FAA I think they do ground testing next week and they will be in FAA flight test I guess later this month of May and with a STC probably issued in June. It is pretty remarkable, very, very fast track.
Steve Denault – Northland Securities
Okay, how do you see this playing out, obviously there is a lot of Cessnas on the ground, in terms of rolling it out to whether it be company owned retrofit locations first or – how should we think about it?
Geoff Hedrick
For the Cessna program, they have 34 centers worldwide and I do believe a distribution channel and installation channel for the equipment. We just expect that almost four days this week out in Wichita training and bringing all the field sales and installation people up to date and briefing them on the program, Cessna is preparing the people and putting the full-court press worldwide. We expect the installations to be done by these 34 centers and sponsored and promoted by Cessna.
- To read the full transcript on Seeking Alpha, click here »
