[Satellite TODAY 05-05-10] EMS Technologies saw its total revenues fall to $82.9 million with net earnings of $1 million in its 2010 first quarter, compared to $92.3 million in revenues and net earnings of $2.3 million generated during the same period in 2009, according to the company’s latest financial results, released May 5.
    EMS CEO Neil Mackay said the company’s losses were the result of slower conditions in its aviation and defense markets slightly offset by sales growth in its LXE and global tracking businesses.
    EMS global tracking services accounted for 12 percent of its total revenues during the quarter with increased adjusted EBIDTA totaling $900,000 for first quarter of 2010 due to higher product sales in the security industry and subsequent increases in airtime billings.
    However, EMS’ defense and space segment, which accounted for 20 percent of EMS total revenues, reported a drop in first quarter net sales from $26.9 million in 2009 to $16.5 million in 2010, with operating income of $900,000 and adjusted EBITDA at $1.8 million. The segment’s backlog currently stands at $87.2 million, including firm orders totaling two-thirds of the segment’s forecasted sales for the remainder of 2010.
    “We expect that our logistics segments will continue to be more profitable throughout the year as the economy improves. And we believe that the aviation and defense segments, which have generally shown a lagging pattern relative to overall economic activity, are expected to make solid profit improvement in the second half of 2010,” Mackay said in a statement.