Fields Aircraft Spares Reports 112% Sales Jump

Fields Aircraft Spares of Simi Valley said sales for the third quarter increased 112% to $3.41 million, compared with sales for the same quarter in 1996 of $1.61 million.

Net earnings for the quarter ended Sept. 30 increased to $161,000 or 6 cents per share, from a loss of $81,000 or 5 cents per share in 1996.

Company officials said the increase in sales was attributable to Fields’ recently launched program in aftermarket aircraft inventory management and supply. Under this program, Fields enters into agreements with aircraft component manufacturers to buy parts used in the repair of aircraft. The company then arranges to supply needed parts to air carriers and aircraft overhaul facilities, using the customer’s own maintenance records to forecast demand.

Fields officials said the program eliminates the need for an air carrier to have parts inventories, while allowing timely access to parts to keep aircraft flying.

“This was our second quarter of year-to-year sales gains in excess of 100%,” said Alan Fields, president and chief executive officer. “Our strategy of entering into arrangements with major air carriers . . . is and has been paying off dramatically. Also, the company has hit the $50-million sales mark inception to date, and we are very excited about this.”

Fields Aircraft Spares, through subsidiaries Fields Aircraft Spares Inc. and Fields Aero Management Inc., distributes aircraft cabin interior replacement products and is a broker for a variety of parts used in various commercial aircraft models.