Flightline made sonabuoy receivers for anti-submarine warfare, gyroscopes for fixed and rotary wing applications and standby mechanical airspeed indicators and altimeters for commercial single engine aircraft. Flightline was purchased by a British company in October 1997 with the commercial aviation operation being spun off into Horizon Aerospace.
Managed all accounting activities for a defense/commercial aviation manufacturing company with annual sales of $15 million, including presentations to the Board of Directors, communications with venture capitalists and banks, negotiation with government agencies for annual allowable overhead rates, development of budgets, coordination of annual audit with external auditors, cash management, calculation of income using percentage of completion, income taxes, administration of 401k plan. Led a staff of 9 direct reports.
Responsible for all activities related to monthly closing and issuing of financial statements as well as all IT activities.Upgrade of ERP program, selection of PC’s and operating software to upgrade Company’s computer environment.
Cost Accounting Manager (1993-1995)
Responsibilities included development and submission of overhead rates to DCAA for audit and approval and calculation of revenue and inventory balances using percentage of completion principles.Additionally calculation of pricing for bid proposals, monitoring of product manufacturing costs and reporting to the VP of Operations of any unusual costs/trends.
Significant activities included:
·Negotiated sale of company to new owners with split off of former subsidiary, which became Horizon Aerospace, LLC, resulting in substantial profit to shareholders.
·Negotiated forbearance agreement with venture capitalists and bank to give management time to obtain new financing or sale of company.
·Streamlined monthly closing process to enable books to be closed in four working days.