|
Insights
by David Alexander, President As this year begins, we have more good news for you. At the AOPA Expo in October 1998 in Palm Springs, we announced that S-TEC autopilots would be available on more new aircraft. Our System 55 will be standard on the 1999 Piper Saratoga II TC and Saratoga II HP and optional on the 1999 Piper Archer III. Our System Thirty autopilot will also be standard on the new Mooney Eagle. Along with these announcements by S-TEC and the respective OEMs, the FAA announced that two manufacturers received FAA type certificates for their new aircraftÑthe Cirrus SR20 and the Lancair Columbia 300. Since we are standard on both, this means additional growth for us. We believe S-TEC continues to move in the right direction. During our last fiscal year, we again experienced record growth and sales. S-TEC now employs more people at this moment than any previous year. This growth has only been possible through your efforts selling S-TEC products. Remember, if you have a customer who is considering upgrading his existing S-TEC autopilot, we will take most S-TEC systems in on trade when a larger system is sold. The best part of that deal is that we give full current value for the trade-in, so the customer pays less for a new autopilot with more features and functions. During the coming year, we will continue to grow and change to meet the market's demand for our products. Just recently, Richard Swingen became S-TEC's Executive Vice President and Chief Operating Officer, another step to facilitate growth. The future holds more possibilities for you and S-TEC as we move into 1999. I hope you have a happy and prosperous New Year. |