Astronics Corporation Reports Preliminary Orders for Second Quarter 2023 of Approximately $200 million

Rhea-AI Summary

Astronics Corporation expects revenue for the second quarter of 2023 to be in the range of $170 million to $175 million, which is at the upper end of its previous guidance range. Preliminary orders for the same quarter are approximately $200 million to $205 million, including a $9.6 million production order for the Handheld Radio Test Sets Program for the US Marine Corps.

• Expects revenue for second quarter 2023 to be in range of $170 million to $175 million; at upper end of previous guidance

• Announces second quarter 2023 financial results conference call and webcast scheduled for aftermarket on Thursday, August 3, 2023

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 that preliminary orders for the second quarter of 2023 are approximately $200 million to $205 million. Included in orders was a $9.6 million production order for the Handheld Radio Test Sets (HHRTS) Program for the U.S. Marine Corps (USMC) related to the $40 million IDIQ contract previously announced on April 6, 2023.

The Company also announced that unaudited preliminary results suggest revenue for the second quarter to be in the range of $170 million to $175 million. This is at the upper end of its previous guidance range of $165 million to $175 million which was provided on May 9, 2023.

Second Quarter 2023 Conference Call

Astronics plans to release its second quarter 2023 financial results after the close of financial markets on Thursday, August 3, 2023 and will host a conference call and webcast that same day to review its financial and operating results and discuss its corporate strategies and outlook. A question-and-answer session will follow.

Thursday, August 3, 2023
4:45 p.m. Eastern Time
Phone: (412) 317-5180
Webcast: investors.astronics.com

A telephonic replay will be available from 8:00 p.m. ET on the day of the call through Thursday, August 17, 2023. To listen to the archived call, dial (412) 317-6671 and enter replay pin 10180028. The webcast replay can be accessed via the investor relations section of the Company’s website where a transcript will also be posted once available.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230717411564/en/

Company

David C. Burney, CFO

Astronics Corporation

T: 716.805.1599 x 159

Investors

Deborah K. Pawlowski

Kei Advisors LLC

T: 716.843.3908

dpawlowski@keiadvisors.com

Source: Astronics Corporation

FAQ

What is the revenue expectation for the second quarter of 2023 for Astronics Corporation?

Astronics Corporation expects revenue for the second quarter of 2023 to be in the range of $170 million to $175 million.

What are the preliminary orders for the second quarter of 2023 for Astronics Corporation?

Preliminary orders for the second quarter of 2023 for Astronics Corporation are approximately $200 million to $205 million.

What is the production order included in the preliminary orders for the second quarter of 2023 for Astronics Corporation?

The preliminary orders for the second quarter of 2023 for Astronics Corporation include a $9.6 million production order for the Handheld Radio Test Sets Program for the US Marine Corps.

When is the second quarter 2023 financial results conference call and webcast scheduled for Astronics Corporation?

The second quarter 2023 financial results conference call and webcast for Astronics Corporation is scheduled for aftermarket on Thursday, August 3, 2023.

How can I access the telephonic replay of the conference call for Astronics Corporation?

To access the telephonic replay of the conference call for Astronics Corporation, dial (412) 317-6671 and enter replay pin 10180028.