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Simula Inc. to Report Record Revenues in Second Quarter

27 July 1999

Simula Inc. to Report Record Revenues in Second Quarter

    PHOENIX--July 27, 1999--Simula Inc. Tuesday said that for its second fiscal quarter ended June 30, 1999, it expects to report record revenues from continuing operations in excess of $34 million.
    Second-quarter net income from continuing operations is expected to be approximately $700,000.
    The company will release second-quarter 1999 financial results on Aug. 5, 1999.
    "I am pleased that the company is performing to plan for the first half of the year," said Donald Townsend, president and chief executive officer of Simula. "This performance is supported by the volume of new orders and options received during the period by our various companies. We have chosen not to report orders and options separately for the second quarter as it has become apparent that the way we have been reporting is of limited value to our shareholders.
    In particular, it is difficult to gauge the timing and percentage of options which will be exercised in our aerospace business as well as the volume and timing of the deliveries on contracts in our automotive business. We are, however, reviewing the best way to provide this information in the future."
    Simula is a leader in developing and commercializing protective systems and energy absorption technologies that safeguard human lives. Products include advanced occupant seating and restraint systems for commercial airline, military, and automotive applications. Additional information may be found at www.simula.com.