Astronics Corp - ATRO STOCK NEWS

Astronics Corporation (NASDAQ: ATRO) has been selected by the U.S. Army as the down select winner for developing the TS-4549/T Radio Test Set, which will replace outdated GRM-122 radio test equipment for tactical radios. This Indefinite Delivery/Indefinite Quantity (ID/IQ) program is expected to yield deliverables over several years. The company plans to finalize contract terms with the Army and provide updates as information becomes available.

Astronics Corporation (Nasdaq: ATRO) reported strong financial results for Q2 2022 with sales reaching $129.1 million, a 16% increase from the prior year. Despite this, the company faced an operating loss of $8.4 million, primarily due to inflation and supply chain challenges, along with not benefiting from previous grants. Bookings totaled $148.4 million, resulting in a book-to-bill ratio of 1.15 and a record backlog of $494.4 million. The company revised its 2022 revenue outlook to $550 million to $580 million.

Astronics Corporation (NASDAQ: ATRO) will release its second quarter 2022 financial results on August 10, 2022, prior to market opening. The company will host a conference call at 11:00 a.m. ET to discuss these results, including corporate strategies and future outlook. Investors can access a replay of the call starting at 2:00 p.m. ET on the same day until August 17, 2022. For additional information and to access the webcast, visit Astronics.com.

Astronics Corporation (ATRO) has been selected by Lilium N.V. (LILM) to design and develop key components for the Lilium Jet’s energy management system, specifically the electrical power distribution units. This partnership emphasizes Astronics' expertise in high voltage products and supports Lilium's goal of creating sustainable air travel solutions. The agreement, reached after a year of collaboration, aims to enhance aircraft safety and efficiency. Both companies are poised to capitalize on advancements in the aerospace industry.

Astronics Corporation (NASDAQ: ATRO) announced a partnership with Southwest Airlines (NYSE: LUV) to install its EMPOWER® Passenger In-Seat Power System on 475 Boeing 737 MAX-7 and MAX-8 aircraft. This initiative is part of Southwest's cabin upgrade effort aimed at enhancing customer experience. The system will feature USB charging ports at each seat, allowing passengers to charge multiple devices. Deliveries start in Q4 2022 for retrofit installations, with further production line installations in 2023.

Astronics Corporation (NASDAQ: ATRO) has expanded its CorePower product portfolio to cater to the electric aircraft sector. The new offerings include high voltage power conversion products and solid-state switching devices, focused on enhancing efficiency and reliability for both commercial and military applications. This development aligns with the industry's shift towards More Electric Aircraft (MEA) architectures, promoting reduced carbon emissions and noise pollution. The advanced capabilities support longer ranges and increased payload capacities, reinforcing Astronics' commitment to sustainable aviation solutions.

Astronics Corporation (Nasdaq: ATRO) reports Q1 2022 sales of $116.2 million, up 10% year-over-year, with a pretax income of $5.0 million, recovering from an $11.8 million loss last year. Bookings surged to $175.6 million, a 46% increase, achieving a book-to-bill ratio of 1.51. Backlog reached a record $475.1 million. Despite strong demand, supply chain issues delayed approximately $15 million in revenue. The company maintains its revenue guidance of $550 million to $600 million for the year, with Q2 revenue expectations between $125 million and $135 million.

Astronics Corporation (Nasdaq: ATRO) will announce its first quarter 2022 financial results before markets open on May 6, 2022. A conference call and webcast will follow at 11:00 a.m. ET to discuss results and corporate strategies. The call will include a question-and-answer session. A replay will be accessible from 2:00 p.m. ET on the same day through May 13, 2022. Astronics serves the aerospace and defense industries with innovative technology solutions, aiming to provide exceptional customer-focused services for over 50 years.

Astronics Corporation (ATRO) reported fourth-quarter sales of $116.1 million, slightly up from $114.8 million year-over-year, despite ongoing COVID-19 impacts. Bookings surged 53% to $177.3 million, elevating the year-end backlog to a record $415.7 million. The company recorded a pre-tax loss of $0.2 million but achieved a net income of $1.6 million. Initial revenue guidance for 2022 is set between $550 million and $600 million.