Paul Nisbet

Smith Barney, Inc. is a broker/dealer located in New York City. The firm is a subsidiary of Citigroup Global Markets Holdings, Inc. and their ultimate parent is Citigroup, Inc. The firm provides an array of trading and execution services for their clients. They do not provide any internal research

Founded in 1993 by Paul Nisbet, JSA Research is an independent research firm located in Ballston Spa, New York with an additional office in Sarasota, Florida. The firm provides fundamental equity research on the aerospace and defense industry. JSA Research covers two dozen of the most prominent, large-, mid- and small-cap aerospace and defense firms. The firm's financial models feature five years each of historical and forecast data and the last and current years of quarterly data, including comprehensive income statements, balance sheets, cash flow analyses and detailed revenue and profit source breakdowns. JSA Research typically emphasizes 1 to 3 year return-on-investment horizons.