Unassociated Document
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
11-K
ANNUAL
REPORTS OF EMPLOYEE STOCK
PURCHASE,
SAVINGS AND SIMILAR PLANS
PURSUANT
TO SECTION 15(d) OF THE
SECURITIES
EXCHANGE ACT OF 1934
(Mark
One)
x
|
ANNUAL REPORT
PURSUANT TO SECTION 15(D) OF THE SECURITIES EXCHANGE ACT OF
1934
|
For the Fiscal Year Ended December 31,
2009
OR
o
|
TRANSITION
REPORT PURSUANT TO SECTION 15(D) OF THE SECURITIES EXCHANGE ACT OF
1934
|
For the Transition Period __________ to
__________
Commission
File Number 1-11750
A. Full
title of the plan and the address of the plan, if different from that of the
issuer named below:
AEROSONIC
CORPORATION 401(k) PLAN
B. Name
of issuer of the securities held pursuant to the plan and the address of its
principal executive office:
Aerosonic
Corporation
1212
North Hercules Avenue
Clearwater,
Florida 33765
Aerosonic
Corporation 401(k) Plan
Table
of Contents
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Page(s)
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Reports
of Independent Registered Public Accounting Firm
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1
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Financial
Statements:
|
|
|
|
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|
Statements
of Net Assets Available for Benefits as of December 31, 2009 and
2008
|
|
2
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|
|
|
Statement
of Changes in Net Assets Available for Benefits For the Year Ended
December 31, 2009
|
|
3
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|
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|
Notes
to Financial Statements
|
|
4-10
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|
Supplemental
Schedules
|
|
|
|
|
|
Schedule
I - Schedule of Assets (Held at End of Year) as of December 31,
2009
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11
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|
|
Schedule
II – Schedule of Delinquent Participant Contributions For Year Ended
December 31, 2009
|
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12
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|
Signature
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13
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Exhibits
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23.1
Consent of Kirkland, Russ, Murphy & Tapp, P.A.
|
|
14
|
To the
Participants and Administrator of the
Aerosonic
Corporation 401(k) Plan:
We have
audited the accompanying statements of net assets available for benefits of
Aerosonic Corporation 401(k) Plan as of December 31, 2009 and 2008, and the
related statement of changes in net assets available for benefits for the year
ended December 31, 2009. These financial statements are the responsibility
of the Plan’s management. Our responsibility is to express an opinion on these
financial statements based on our audit.
We
conducted our audit in accordance with the standards of the Public Company
Accounting Oversight Board (United States). Those standards require that we plan
and perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. The Plan has determined that it is
not required to have, nor were we engaged to perform, an audit of its internal
control over financial reporting. Our audit included consideration of internal
control over financial reporting as a basis for designing audit procedures that
are appropriate in the circumstances, but not for the purpose of expressing an
opinion on the effectiveness of the Plan’s internal control over financial
reporting. Accordingly, we express no such opinion. An audit includes examining,
on a test basis, evidence supporting the amounts and disclosures in the
financial statements. An audit also includes assessing the accounting principles
used and significant estimates made by management, as well as evaluating the
overall financial statement presentation. We believe that our audits provide a
reasonable basis for our opinion.
In our
opinion, the financial statements referred to above present fairly, in all
material respects, the net assets available for benefits of Aerosonic
Corporation 401(k) Plan as of December 31, 2009 and 2008, and the changes in net
assets available for benefits for the year ended December 31, 2009, in
conformity with accounting principles generally accepted in the United States of
America.
Our audit
was conducted for the purpose of forming an opinion on the basic financial
statements taken as a whole. The supplemental schedule of assets (held at end of
year) and schedule of delinquent participant contributions, together referred to
as “supplemental schedules,” are presented for purpose of additional analysis
and are not a required part of the basic financial statements but are
supplementary information required by the Department of Labor’s Rules and
Regulations for Reporting and Disclosure under the Employee Retirement Income
Security Act of 1974. These supplemental schedules are the responsibility of the
Plan’s management. The supplemental schedules have been subjected to the
auditing procedures applied in the audit of the basic financial statements and,
in our opinion, are fairly stated in all material respects in relation to the
basic financial statements taken as a whole.
/s/ Kirkland, Russ, Murphy & Tapp,
P.A.
|
|
Clearwater,
Florida
|
|
June
29, 2010
|
|
AEROSONIC
CORPORATION
401(k)
PLAN
as
of December 31, 2009 and 2008
|
|
2009
|
|
|
2008
|
|
Investments,
at fair value:
|
|
|
|
|
|
|
Aerosonic
Corporation common stock
|
|
$ |
279,121 |
|
|
$ |
16,738 |
|
Registered
investment companies
|
|
|
3,008,138 |
|
|
|
2,576,978 |
|
Common
collective trusts
|
|
|
688,845 |
|
|
|
842,375 |
|
Participant
loans
|
|
|
243,577 |
|
|
|
190,819 |
|
|
|
|
|
|
|
|
|
|
Total
investments
|
|
|
4,219,681 |
|
|
|
3,626,910 |
|
Contribution
receivable
|
|
|
13,223 |
|
|
|
32,046 |
|
|
|
|
|
|
|
|
|
|
Net
assets available for benefits at fair value
|
|
|
4,232,904 |
|
|
|
3,658,956 |
|
Adjustment
from fair value to contract value for fully benefit responsive investment
contract
|
|
|
15,079 |
|
|
|
38,122 |
|
|
|
|
|
|
|
|
|
|
Net
assets available for benefits
|
|
$ |
4,247,983 |
|
|
$ |
3,697,078 |
|
The
accompanying notes are an integral part of these financial
statements.
AEROSONIC
CORPORATION
401(k)
PLAN
For
the Year Ended December 31, 2009
Additions
to net assets attributed to:
|
|
|
|
Investment
income:
|
|
|
|
Interest
and dividends
|
|
$ |
42,700 |
|
Net
appreciation in fair value of investments
|
|
|
728,671 |
|
Total
investment income
|
|
|
771,371 |
|
|
|
|
|
|
Contributions:
|
|
|
|
|
Participant
contributions
|
|
|
229,301 |
|
|
|
|
|
|
Total
additions
|
|
|
1,000,672 |
|
|
|
|
|
|
Deductions
from net assets attributed to:
|
|
|
|
|
Benefits
paid to participants
|
|
|
(421,796 |
) |
Administrative
expenses
|
|
|
(27,971 |
) |
Total
deductions
|
|
|
(449,767 |
) |
|
|
|
|
|
Net
increase
|
|
|
550,905 |
|
|
|
|
|
|
Net
assets available for plan benefits:
|
|
|
|
|
Beginning
of year
|
|
|
3,697,078 |
|
End
of year
|
|
$ |
4,247,983 |
|
The
accompanying notes are an integral part of these financial
statements.
Aerosonic
Corporation 401(k) Plan
December
31, 2009 and 2008
1.
Plan Description
The following description of the
Aerosonic Corporation 401(k) Plan (the “Plan”) provides only general information.
Participants of the Plan should refer to the Plan document for a more complete
description of the Plan.
General
The Plan is a defined contribution plan
that covers the eligible employees of Aerosonic Corporation (the “Company”) by allowing them a system of savings
and salary deferral and by providing discretionary employer profit sharing
contributions.
The Plan
is subject to the provisions of the Employee Retirement Income Security Act of
1974. (“ERISA”). The
Plan was established on February 1, 1993, and has been amended from time to time
thereafter.
Eligibility
Employees
become eligible to participate in the Plan beginning on January 1, April 1, July
1, or October 1, immediately following completion of three months of service and
attaining age 21.
Contributions
An
eligible participant may voluntarily contribute, on a pre-tax basis, up to a
maximum of 100% of his or her annual eligible compensation (up to the IRS
maximum allowable amount) to the Plan. The maximum allowable pre-tax voluntary
contribution, as determined under the Internal Revenue Code, was $16,500 and
$15,500 for 2009 and 2008, respectively. For participants over the age of 50, an
additional catch-up contribution of $5,500 and $5,000 is also allowed for 2009
and 2008, respectively. A participant also may roll over to the Plan amounts
from individual retirement accounts or distributions from other qualified
defined benefit or defined contribution plans.
The
Company may also make contributions, in cash or Company common stock, to the
Plan. The Company may make a matching contribution, as determined by the Board
of Directors annually, of an amount equal to a percentage of a participant’s
contributions up to a maximum percentage of eligible compensation. In the past,
the Company contributed an amount equal to 100% of a participant’s contributions
up to 3% of eligible compensation. As a result of the Company’s January 31, 2009
suspension of employer contributions, the total matching contribution made to
the Plan amounted to $0 in cash for the year ended December 31, 2009. Effective
June 11, 2010, the Company has resumed employer contributions to the
Plan.
The
Company may also make discretionary profit sharing contributions to the Plan,
which are allocated to a participant’s account based upon the participant’s
annual compensation. The Company did not make any discretionary profit sharing
contributions to the Plan for 2009.
Forfeitures
The
balance of amounts forfeited by nonvested accounts of inactive participants as
of December 31, 2009 and December 31, 2008 was $3,847 and $3,807,
respectively. Under Article V of the Plan Document, forfeitures may first be
applied towards plan expenses and then to reduce future employer contributions,
other than elective contributions.
Participant
Accounts
Each
participant’s account is credited with the participant’s contributions, his or
her pro rata share of Company matching and additional discretionary
contributions, and an allocation of Plan earnings or losses, including market
value adjustments on Plan investments and allocation of Plan expenses. All
contributions are held in trust and invested by the Plan’s trustee in accordance
with the options selected by the participants (i.e. all investments are
participant-directed). Participants can chose from a variety of investment
options including common collective trusts and registered investment companies.
Also, participants have the option to contribute to a fund which purchases
Aerosonic Corporation common stock.
Plan
earnings (losses) are allocated to a participant’s account based on the
participant’s account balance as a percent of total invested assets in each
investment fund. The benefit to which a participant is entitled under the Plan
is the benefit that can be provided from the participant’s vested
account.
Vesting
Participants
are immediately vested in their contributions to the Plan plus actual earnings
and losses thereon. Participants become vested in employer matching and
additional discretionary contributions (and earnings or losses thereon)
according to the following schedule:
Years of Service
|
|
Vesting Percentage
|
|
less
than 2
|
|
|
0 |
% |
2
but less than 3
|
|
|
33 |
% |
3
but less than 4
|
|
|
67 |
% |
4
or more
|
|
|
100 |
% |
Participants
become fully vested upon death, disability, attainment of normal retirement age,
or upon termination of the Plan.
Distribution
of Participant Accounts
Distributions
of a participant’s account are made upon retirement from the Company at age 65,
in cases of financial hardship, termination from service with the Company,
death, or disability. Participants still employed who have reached the age of
59½ are eligible for one distribution per calendar year from the vested portion
of their account. Distributions are made in a single lump-sum payment, in whole
shares of Company common stock, or in cash, or partially in Company common stock
or partially in cash, as determined by the Plan Administrator and based upon the
relative proportion in which the participant’s account balance under the Plan
consists of Company stock or investments.
The Plan
allows participants that are less than age 70½ to defer benefit payments until
they cease employment.
Participants
Loans
Participants may borrow from their fund
accounts a minimum of $1,000 and up to a maximum of the lesser of $50,000 or 50%
of their vested account balance. A participant may not have more than two loans
outstanding at any time. Loans, which are collateralized by the balance in the
participant’s account, bear interest at rates based upon the prime interest rate
as published in The Wall Street
Journal on the first
business day of the month when the loan is drawn plus 1%. The loan rate of
interest was 4.25% per annum during the 2009 Plan year. All loans are repaid
through salary reductions within a period of five years, except loans to acquire
the participant’s principal residence, for which the term of the loan may be up
to ten years. Each loan is documented in the form of a promissory note from the
participant and collateralized by this pledge on the participant’s account
balance.
2.
Summary of Significant Accounting Policies
Basis
of Accounting
The
accompanying financial statements are prepared on the accrual basis of
accounting, except for benefits paid, which are recorded when paid, in
conformity with accounting principles generally accepted in the United States of
America.
Use
of Estimates
The
preparation of financial statements in conformity with accounting principles
generally accepted in the United States of America requires management to make
estimates and assumptions that affect the reported amounts of assets,
liabilities and changes therein and disclosure of contingent assets and
liabilities at the date of the financial statements. Actual results could differ
from those estimates.
Investment
Valuation and Income Recognition
The
Plan’s investments are stated at fair value. The fair value of registered
investment companies is determined based on quoted market prices. Units held in
bank common collective trust funds are reported at fair value based on the unit
prices quoted by the fund, representing the fair value of the underlying
investments. Participant loans are valued at the amount of unpaid principal,
which approximates fair value. The value of the Company’s common stock is
determined using the closing market price from the NYSE Amex at December 31,
2009.
Wachovia
Diversified Stable Value Fund (the “Fund”), a common collective trust, holds
investments in fully benefit-responsive investment contracts that are stated at
contract value which is equal to the principal balance plus accrued interest.
The average yield earned by the Fund was 2.6% and 4.8% for the years ended
December 31, 2009 and 2008, respectively. On a quarterly basis, the crediting
interest rate was reset to determine the sensitivity of the Fund to the market
yield. Accounting principles generally accepted in the United States of America
require common collective trusts to be reported at fair value. However, contract
value is the relevant measurement attribute for that portion of the net assets
available for benefits of a defined contribution plan attributable to fully
benefit-responsive investment contracts because contract value is the amount
participants would receive if they were to initiate a permitted transaction
under the terms of the Plan. At December 31, 2009, the fund is recorded at fair
value with an adjustment to contract value on the Statement of Net Assets
Available for Benefit. The Company is not aware of any event that would limit
the Plan’s ability to execute transactions at contract value.
Interest
income is recognized when earned. Dividend income is recorded on the ex-dividend
date. Realized gains and losses on investments are recognized upon the sale of
the related investments and unrealized appreciation or depreciation is
recognized at period end when the carrying values of the related investments are
adjusted to their estimated fair market value. Purchases and sales of securities
are recorded on a trade-date basis.
Earnings
on investments, with the exception of participant loans, are allocated on a
pro-rata basis to individual participant accounts based on the type of
investment and the ratio of each participant’s individual account balance to the
aggregate of participant account balances within investment type. The portion of
interest included in each loan payment made by a participant is recognized as
interest income in the participant’s individual account.
Net
Appreciation in Fair Value of Investments
The Plan
presents in the statement of changes in net assets available for benefits, the
net appreciation in the fair value of investments, which consists of the
realized gains or losses and the unrealized appreciation or depreciation on
those investments.
Risks
and Uncertainties
Investment
securities are exposed to various risks, including those involving interest
rates, the securities market, and credit conditions. Due to the level of risk
associated with certain investment securities, changes in the values of such
investment securities may involve declines in value in the near term and in the
long term, and such declines could have a material adverse effect upon
participants’ account balances, and the amounts reported in the statements of
net assets available for benefits.
Payment
of Benefits
The Plan
records benefit payments to withdrawing participants when paid. Under the rules
for preparation of the Form 5500, the Plan’s Form 5500 will reflect an accrual
for the amount to be paid to participants who withdrew from the Plan prior to
year-end, and who had requested a distribution which was approved but not yet
paid at period end, if any. There were no unpaid distributions at December 31,
2009.
Administrative
Expenses
Investment
management service fees are paid directly from the Plan’s assets. Other
administrative expenses are paid directly by the Plan sponsor and consist
primarily of accounting and legal fees.
3.
Investments
The
following presents investments that represent 5% or more of the Plan’s net
assets available for benefits as of December 31:
|
|
2009
|
|
|
2008
|
|
American
Funds Growth R3
|
|
$ |
958,367 |
|
|
$ |
832,173 |
|
Oakmark
Equity & Inc. II
|
|
|
575,463 |
|
|
|
557,398 |
|
DWS
Global Opportunities A
|
|
|
400,483 |
|
|
|
331,247 |
|
Wachovia
Div Stable Value
|
|
|
701,334 |
|
|
|
762,448 |
|
Pimco
Total Return / A
|
|
|
349,402 |
|
|
|
* |
|
Aerosonic
Corp Del Com Par $0.40
|
|
|
279,121 |
|
|
|
* |
|
Riversource
Diversified Equity Inc. A
|
|
|
239,647 |
|
|
|
236,075 |
|
Van
Kampen US Mortgage /A
|
|
|
259,993 |
|
|
|
250,588 |
|
* Did not represent
5% or more of net assets available for benefits
4.
Net Appreciation in Estimated Fair Value of Investments
The
Plan’s investments (including gains and losses on investments bought and sold,
as well as those held during the year), increased in value by $728,671 during
the year ended December 31, 2009, as follows:
Registered
investment companies
|
|
$ |
568,253 |
|
Common
Collective Trusts
|
|
|
15,112 |
|
Aerosonic
Corporation common stock
|
|
|
145,306 |
|
|
|
$ |
728,671 |
|
5.
Fair Value Measurements
·
|
Level 1 – Inputs to the valuation
methodology are quoted prices (unadjusted) for identical assets or
liabilities in active
markets.
|
·
|
Level 2 – Inputs to the valuation
methodology include quoted prices for similar assets and liabilities in
active markets, and inputs other than quoted prices that are observable
for the assets or liabilities, either directly or indirectly, for
substantially the full term of the financial
instrument.
|
·
|
Level 3 – Inputs to the valuation
methodology are unobservable and significant to the fair value
measurement. These inputs reflect management’s best estimate of what
market participants would use in pricing the assets or liabilities at the
measurement date.
|
A
financial instrument’s categorization within the valuation hierarchy is based
upon the lowest level of input that is significant to the fair value
measurement. Following is a description of the valuation methodologies used for
instruments within the Plan measured at fair value, including the general
classification of such instruments pursuant to the valuation
hierarchy.
The
Company’s common stock is traded on an active exchange, and accordingly is
classified in Level 1 of the fair value hierarchy.
Common
Collective Trust
Investments
in common collective trust funds are valued based on the year-end unit value;
unit values are determined by the issuer or Third Party Administrator by
dividing the fair values of the total net assets at year-end by the outstanding
units. The fair values of the total net assets are determined by the nature of
the underlying investments. Each underlying investment is valued at fair value
in accordance with the valuation description associated with its investment type
as stated above. Units in common collective trust funds, which hold
benefit-responsive contracts, are priced based upon fair value of the underlying
investments with an adjustment to contract value in the Statements of Net Assets
Available for Benefits. These assets are classified within Level 2 of the
valuation hierarchy. Adjustments to these assets, based upon unobservable
inputs, may result in the fair value measurement being classified as Level 3
measurement, if those inputs are significant to the overall fair value
measurement.
Registered
Investment Companies
Investments
in shares of registered investment companies are valued at quoted market prices,
which represent the net asset values of shares held by the Plan at
year-end..
These assets are classified within Level 1 of the valuation
hierarchy.
Participant
Loans
Participant
loans are valued at amortized cost, which approximates fair value, and are
classified within level 3 of the valuation hierarchy.
Plan
assets have been classified in their entirety within a level of the fair value
hierarchy based on the lowest level of input that is significant to the
estimated fair value measurement, as set forth below:
|
|
|
|
|
Estimated Fair Value Measurements at December 31, 2009
|
|
|
|
Total
|
|
|
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
|
|
|
Significant Other
Observable Inputs
(Level 2)
|
|
|
Significant
Unobservable Inputs
(Level 3)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Aerosonic
Corporation common stock
|
|
$ |
279,121 |
|
|
$ |
279,121 |
|
|
|
|
|
|
|
Registered
investment companies
|
|
|
3,008,138 |
|
|
|
3,008,138 |
|
|
|
|
|
|
|
Common
collective trusts
|
|
|
688,845 |
|
|
|
|
|
|
$ |
688,845 |
|
|
|
|
Participant
loans
|
|
|
243,577 |
|
|
|
|
|
|
|
|
|
|
$ |
243,577 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
Investments
|
|
$ |
4,219,681 |
|
|
$ |
3,287,259 |
|
|
$ |
688,845 |
|
|
$ |
243,577 |
|
|
|
|
|
|
Estimated Fair Value Measurements at December 31, 2008
|
|
|
|
Total
|
|
|
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
|
|
|
Significant Other
Observable Inputs
(Level 2)
|
|
|
Significant
Unobservable Inputs
(Level 3)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Aerosonic
Corporation common stock
|
|
$ |
16,738 |
|
|
$ |
16,738 |
|
|
|
|
|
|
|
Registered
investment companies
|
|
|
2,576,978 |
|
|
|
2,576,978 |
|
|
|
|
|
|
|
Common
collective trusts
|
|
|
842,375 |
|
|
|
|
|
|
$ |
842,375 |
|
|
|
|
Participant
loans
|
|
|
190,819 |
|
|
|
|
|
|
|
|
|
|
$ |
190,819 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
Investments
|
|
$ |
3,626,910 |
|
|
$ |
2,593,716 |
|
|
$ |
842,375 |
|
|
$ |
190,819 |
|
The
change in the fair value of the Plan’s level 3 investments for the year ended
December 31, 2009 is set forth in the table below:
|
|
Participant
Loans
|
|
|
|
|
|
Balance,
beginning of year
|
|
$ |
190,819 |
|
Realized
gains (losses)
|
|
|
- |
|
Unrealized
gains (losses) relating to assets still held at reporting
date
|
|
|
- |
|
Purchase,
sales, issuances and settlements, net
|
|
|
52,758 |
|
Balance,
end of year
|
|
$ |
243,577 |
|
6.
Tax Status
The most
recent favorable determination letter received by the Plan was dated November 6,
2007 which provides that the form of the Plan qualifies under the applicable
provisions of the Internal Revenue Code for exemption from federal income taxes.
Accordingly, no provision for income taxes has been included in the accompanying
financial statements. The plan has been amended since receiving the
determination letter. However, the plan administrator and the plan’s tax counsel
believe that the plan is currently designed and being operated in compliance
with the applicable requirements of the Internal Revenue Code.
7.
Plan Amendment and Termination
Although
the Company has not expressed any intent to do so, the Company has the right,
under the Plan, to amend any or all provisions of the Plan as well as terminate
the Plan at any time, subject to the provisions of ERISA. In the event of Plan
termination, participants will become 100% vested in their accounts. All such
vested interests shall be non-forfeitable.
8.
Concentrations of Credit Risk
Financial
instruments which potentially subject the Plan to concentrations of credit risk
consist of the Plan’s investments. Management maintains the Plan’s investments
with what management believes to be high credit quality financial institutions
and attempts to limit the amount of credit exposure to any particular
investment.
9.
Party-In-Interest
Section
3(14) of ERISA defines a party-in-interest to include, among others, fiduciaries
or employees of the Plan, any person who provides services to the Plan, or an
employer whose employees are covered by the Plan. Certain Plan investments are
shares of registered investment companies and common collective trusts managed
by Wachovia Bank, N.A. Wachovia Bank, N.A. is the trustee as defined by the
Plan. Therefore, these transactions qualify as party-in-interest transactions.
An employee of the Company serves as the plan administrator of the Plan. In
addition, Plan investments include investments in the Company’s common stock;
therefore, these transactions also qualify as party-in-interest
transactions.
10.
Prohibited Transactions
During
2009 and 2008, the Plan sponsor inadvertently failed to deposit $44,975 and
$25,804, respectively, of participant deferrals within the required timeframe as
stated by the United States Department of Labor (“DOL”). The DOL considers late
deposits to be prohibited transactions. The Plan sponsor will file a Form 5330
and pay all applicable excise taxes on the amounts that were not deposited
within the required timeframe. The excise tax payments will be made from the
Plan sponsor’s assets and not from assets of the Plan.
11.
Reconciliation of Financial Statements to Form 5500
The
following is a reconciliation of net assets available for benefits per the
financial statements as of December 31, 2009 and 2008 to
Form 5500:
Statements
of net assets available for benefits:
|
|
2009
|
|
|
2008
|
|
Net
assets available for benefits per the financial statements
|
|
$
|
4,247,983
|
|
|
$
|
3,697,078
|
|
Contributions
receivable
|
|
|
(13,223
|
)
|
|
|
-
|
|
Net
assets available for benefits per Form 5500
|
|
$
|
4,234,760
|
|
|
$
|
3,697,078
|
|
The
following is a reconciliation of changes in net assets per the financial
statements for the year ended December 31, 2009, to total net income per
Form 5500:
|
|
|
|
|
Statement
of changes in net assets available for benefits:
|
|
|
|
|
|
|
$
|
550,905
|
|
Accrued
revenue for contributions receivable
|
|
|
(13,223
|
)
|
Total
net income per Form 5500
|
|
$
|
537,682
|
|
AEROSONIC
CORPORATION
401(k)
PLAN
Schedule
H, Line 4(i) - Schedule of Assets
(Held
at End of Year December 31, 2009)
EIN
#74-1668471
Plan
#002
(a)
|
|
(b)
|
|
(c)
|
|
(d)
|
|
|
(e)
|
|
|
|
Identity of issue,
borrower, lessor or similar
Party
|
|
Description of investment including
maturity date, rate of interest, collateral, par
or maturity date
|
|
Cost
|
|
|
Current value
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common
Collective Trusts
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
*
|
|
Wachovia
Bank N.A.
|
|
Enhanced
Stk Mkt FD - AT (137.63 Units)
|
|
$ |
** |
|
|
$ |
1,735 |
|
*
|
|
Wachovia
Bank N.A.
|
|
Total
Return Bond FD - AT (80.18 Units)
|
|
|
** |
|
|
|
855 |
|
*
|
|
Wachovia
Bank N.A.
|
|
Wachovia
Div Stable Value (2,031.07 Units)
|
|
|
** |
|
|
|
701,334 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Registered
Investment Companies
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Van
Kampen US Mortgage/A (19,957.62 Units)
|
|
|
** |
|
|
|
259,993 |
|
|
|
|
|
PIMCO
Total Return/A (22,775.56 Units)
|
|
|
** |
|
|
|
349,402 |
|
|
|
|
|
Oakmark
Equity & Inc. II (22,629.28 Units)
|
|
|
** |
|
|
|
575,463 |
|
|
|
|
|
Riversource
Diversified Equity Inc. A (27,232.67 Units)
|
|
|
** |
|
|
|
239,647 |
|
|
|
|
|
American
Funds Growth R3 (35,587.33 Units)
|
|
|
** |
|
|
|
958,367 |
|
|
|
|
|
Riversource
Mid Cap Value A (9,067.62 Units)
|
|
|
** |
|
|
|
58,486 |
|
|
|
|
|
Thornburg
Core Growth R3 (3,991.92 Units)
|
|
|
** |
|
|
|
56,645 |
|
|
|
|
|
DWS
Global Opportunities A ( 12,934.19 Units)
|
|
|
** |
|
|
|
400,483 |
|
|
|
|
|
DWS
Dreman Small Cap Value A (1,420.35 Units)
|
|
|
** |
|
|
|
44,073 |
|
|
|
|
|
Alger
Fund - Small Cap Growth (88.94 Units)
|
|
|
** |
|
|
|
898 |
|
|
|
|
|
PIMCO
Real Return/Institutional - AT (48.15 Units)
|
|
|
** |
|
|
|
578 |
|
|
|
|
|
Evergreen
Intl Bond I - AT (56.49 Units)
|
|
|
** |
|
|
|
856 |
|
|
|
|
|
T.
Rowe Price Equity Income - AT (267.24 Units)
|
|
|
** |
|
|
|
3,432 |
|
|
|
|
|
Evergreen
Strategic Growth Income - AT (198.85 Units)
|
|
|
** |
|
|
|
2,618 |
|
|
|
|
|
Evergreen
Intl Equity I - AT (322.21 Units)
|
|
|
** |
|
|
|
5,089 |
|
|
|
|
|
PIMCO
Total Return/Inst (123.88 Units)
|
|
|
** |
|
|
|
1,463 |
|
|
|
|
|
Dreyfus
Premier Small Cap Equity - AT (131.71 Units)
|
|
|
** |
|
|
|
1,184 |
|
|
|
|
|
Alger
Funds Small Cap Gro Instl/I - AT (1,760.75 Units)
|
|
|
** |
|
|
|
39,018 |
|
|
|
|
|
T.
Rowe Price Real Estate - AT (183.13 Units)
|
|
|
** |
|
|
|
1,311 |
|
|
|
|
|
Lazard
Emerging Markets/I AT (79.74 Units)
|
|
|
** |
|
|
|
1,209 |
|
|
|
|
|
Goldman
Sachs Large Cap Val/I - AT (536.41 Units)
|
|
|
** |
|
|
|
4,024 |
|
|
|
|
|
JP
Morgan High Yield - AT (54.98 Units)
|
|
|
** |
|
|
|
614 |
|
|
|
|
|
T.
Rowe Price Growth Stk - AT (411.48 Units)
|
|
|
** |
|
|
|
3,285 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common
Stock
|
|
|
|
|
|
|
|
|
*
|
|
Aerosonic
Corporation
Common
Stock
|
|
Equity
Securities of Aerosonic Corporation, par value $0.40
|
|
|
237,324 |
|
|
|
279,121 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Participant
Loans
|
|
|
|
|
|
|
|
|
*
|
|
Participant
Loans
|
|
Various
maturities ranging from January 2010 to December 2014 (interest rates from
4.25% to 9.25%)
|
|
|
** |
|
|
|
243,577 |
|
|
|
|
|
|
|
$ |
237,324 |
|
|
$ |
4,234,760 |
|
* Party-in-interest
**
Historical cost is not required as investments are
participant-directed
AEROSONIC
CORPORATION
401(k)
PLAN
Schedule
H, Line 4(a) – Schedule of Delinquent Participant Contributions
EIN
#74-1668471
Plan
#002
Participant
Contributions
Transferred Late to
Plan
|
|
|
Total that Constitute Nonexempt Prohibited Transactions
|
|
|
|
|
Check here if Late
Participant Loan
Repayments are
included: þ
|
|
|
Contributions Not
Corrected
|
|
|
Contributions
Corrected Outside
VFCP
|
|
|
Contributions
Pending Correction
in VFCP
|
|
|
Total Fully
Corrected Under
VFCP and PTE
2002-51
|
|
$ |
44,975 |
|
|
$ |
- |
|
|
$ |
44,975 |
|
|
$ |
- |
|
|
$ |
- |
|
AEROSONIC
CORPORATION
401(K)
PLAN
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Plan
Administrator of the Aerosonic Corporation 401(k) Plan has duly caused this
annual report to be signed on its behalf by the undersigned thereunto duly
authorized.
Aerosonic
Corporation 401(k) Plan
Administrator
and Agent for Service
of Legal
Process of the Aerosonic
Corporation
401(k) Plan
June 29,
2010