The past year was exceptionally productive for Hankins Aerospace as we increased profitability and established a foundation for the future through sustainable growth and continued excellence in our products and services.
We remain committed to our mission of improving the performance and integrity of aerospace parts and systems. We are equally committed to our shareholders, customers, employees, their families, and the world around us.
To summarize the highlights of the enclosed report, consolidated sales in the past year were $895 million, an increase of 12 percent from the previous year. The company generated $108 million in cash flow, with 45 percent of that returning to shareholders. Since we began paying dividends 10 years ago, annual dividends have increased 210 percent.
As a shareholder in Hankins Aerospace since [YEAR], you are a valuable member of the Hankins team. Through your investment, you have made our success possible. We are dedicated to the integrity, innovation, leadership, and hard work that has earned your confidence so far. We will continue to follow these principles as we strive to meet our goals.
The market strategy at Hankins Aerospace begins with steady growth in our core aerospace parts manufacturing business and extends to increasing our distribution network domestically and abroad. We are expanding our global market presence with targeted acquisitions and a just-in-time manufacturing system that introduces our products to new customers faster than ever before.
The aerospace industry demands higher efficiency and lightweight products to increase fuel economy and reduce environmental impact. With a long history as the leader in aerospace product innovation, Hankins Aerospace continues to anticipate customer needs and thrive in an increasingly competitive pricing environment.
We offer the most innovative manufacturing and advanced technology resources in the aerospace industry. Hankins is known for its market knowledge and extensive technical expertise. Our services range from machining structural parts, engine components, landing gear, and systems controls from super alloys, aluminum, titanium, and stainless steels. We aim to improve manufacturing operations and produce the highest quality parts while increasing productivity and customer satisfaction.
|Dollar amounts in millions||Net sales||$895||$804|
|Adjusted operating income||$42||$37|
|Adjusted earnings per share||$0.74||$0.71|
|Cash and cash equivalents||$108||$99|
Hankins Aerospace, Inc. filings with the SEC, including full financial statements, annual reports from previous years, and this year’s quarterly reports, are available free of charge on our website at hankins.cengage.com.
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