Astronics Awarded Additional Follow-on Inflight Connectivity Equipment Order From Collins Aerospace

Rhea-AI Summary

Astronics Corporation (NASDAQ: ATRO) announced a $19 million order from Collins Aerospace for business jet connectivity equipment, scheduled for delivery in 2022. This follows an earlier order worth approximately $11 million announced in February 2021. The increasing demand for Collins’ Ku-band connectivity service highlights the success of Astronics' connectivity hardware. Astronics is committed to developing innovative technology solutions for aerospace and defense industries, emphasizing customer collaboration.

Positive

• Received a new order worth $19 million from Collins Aerospace for connectivity equipment.
• Follow-up order reflects the success of a previous $11 million order from February 2021.
• Strong demand indicates growing business jet connectivity needs.

Negative

• None.

Supports Strong Increase in Business Jet Connectivity Demand

EAST AURORA, N.Y.--(BUSINESS WIRE)-- Astronics Corporation (Nasdaq: ATRO), a leading provider of advanced technologies for global aerospace, defense and other mission critical industries, announced today it was awarded a $19 million order from Collins Aerospace (“Collins”) for business jet connectivity equipment to be delivered in 2022. The order is a follow-on to the approximately $11 million order announced in February 2021.

Tail-Mounted Connectivity Shipset (Graphic: Business Wire)

The growing fleet employing Collins’ system is building customer recognition and confirming that LuxStream provides unparalleled high-speed world-wide connectivity that delivers a broad variety of remote conferencing services and streaming entertainment.

“We are excited to support the growing success of the Collins Aerospace Ku-band connectivity service,” said Michael Kuehn, Astronics CSC President. “We believe this order validates the continued success of Collins’ connectivity services and the performance of Astronics’ connectivity hardware. Astronics is committed to developing and producing the best connectivity hardware for airborne platforms.”

For more details on the T-311 hardware, visit Astronics.com.

About Astronics Corporation

Astronics Corporation (Nasdaq: ATRO) serves the world’s aerospace, defense, and other mission critical industries with proven, innovative technology solutions. Astronics works side-by-side with customers, integrating its array of power, connectivity, lighting, structures, interiors, and test technologies to solve complex challenges. For over 50 years, Astronics has delivered creative, customer-focused solutions with exceptional responsiveness. Today, global airframe manufacturers, airlines, militaries, completion centers and Fortune 500 companies rely on the collaborative spirit and innovation of Astronics. The Company’s strategy is to increase its value by developing technologies and capabilities that provide innovative solutions to its targeted markets.

For more information on Astronics and its solutions, visit Astronics.com.

Safe Harbor Statement

This news release contains forward-looking statements as defined by the Securities Exchange Act of 1934. One can identify these forward-looking statements by the use of the words “expect,” “anticipate,” “plan,” “may,” “will,” “estimate” or other similar expressions and include all statements with the demand in business jet connectivity services, customer response to the connectivity service, and the performance of the Company’s connectivity hardware. Because such statements apply to future events, they are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated by the statements. Important factors that could cause actual results to differ materially from what may be stated here include the impact of a global pandemic and governmental and other actions taken in response, trend in growth with passenger power and connectivity on airplanes, the state of the aerospace and defense industries, the market acceptance of newly developed products, internal production capabilities, the timing of orders received, the status of customer certification processes and delivery schedules, the demand for and market acceptance of new or existing aircraft which contain the Company’s products, the need for new and advanced test and simulation equipment, customer preferences and relationships, and other factors which are described in filings by Astronics with the Securities and Exchange Commission. The Company assumes no obligation to update forward-looking information in this news release whether to reflect changed assumptions, the occurrence of unanticipated events or changes in future operating results, financial conditions or prospects, or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210928005430/en/

Company Contact:

Astronics AeroSat

Scott McCobb

Program Manager

Scott.McCobb@astronics.com

+1.603.879.0205

Investor Contact:

Kei Advisors LLC

Deborah K. Pawlowski

Investor Relations

dpawlowski@keiadvisors.com

+1.716.843.3908

Source: Astronics Corporation

FAQ

What is the significance of Astronics' $19 million order from Collins Aerospace?

The order signifies increasing demand for business jet connectivity, validating Astronics' product performance.

When will the $19 million order from Collins Aerospace be delivered?

The order is scheduled for delivery in 2022.

How does the new order from Collins Aerospace impact Astronics' business?

The new order enhances Astronics' market position and demonstrates continued success in connectivity solutions.

What was the previous order amount from Collins Aerospace?

The previous order from Collins Aerospace was approximately $11 million, announced in February 2021.

What are the key products involved in Astronics' order for business jet connectivity?

The order involves advanced connectivity equipment that supports high-speed services for business jets.