Astronics Corp - ATRO STOCK NEWS

Astronics Corporation (Nasdaq: ATRO) congratulates Textron Aviation on the first flight of the Beechcraft Denali turboprop, featuring several Astronics products. These include advanced power systems, exterior lighting, and the Max-Viz 1400 Enhanced Vision System. Mark Peabody, President of Astronics Aerospace Segment, emphasized the innovation in the Denali program, enhancing performance for smaller aircraft. Astronics specializes in aerospace technology solutions, contributing to power generation and custom avionics.

Astronics Corporation (NASDAQ: ATRO) reported preliminary revenue of $116 million for Q4 2021, with total sales for the year reaching $445 million. Preliminary bookings for Q4 were $177 million, resulting in a book-to-bill ratio of 1.5. Total cash proceeds exceeding $50 million are anticipated, bolstered by grants and facility sales. However, the company faces potential liabilities of $8 million to $10 million from a U.K. intellectual property ruling against it, stemming from an ongoing dispute with Lufthansa Technik.

Astronics Corporation (Nasdaq: ATRO), a leading provider of advanced technologies for aerospace and defense industries, will present at the 24th Annual Needham Virtual Growth Conference on January 10, 2022, at 4:15 p.m. Eastern Time. The live webcast will be available on their website, and a replay will be accessible afterward in the Investors section. Astronics has spent over 50 years delivering innovative technology solutions, focusing on power, connectivity, and lighting among other areas, catering to aircraft manufacturers and military clients globally.

Astronics Corporation (NASDAQ: ATRO) has launched the new ATS-5000 Series of Functional Test and Support Solutions, designed to enhance operational efficiency for various sectors including transit, airlines, and defense. This innovative platform combines advanced architecture, instrumentation, and software to facilitate in-house design verification and diagnostics, thereby reducing costly downtime. The modular design promotes ease of training and long-term adaptability, making it a valuable asset for users such as mass transit systems and avionics manufacturers.

Astronics Corporation (Nasdaq: ATRO) reported a 5% increase in quarterly sales to $111.8 million compared to last year. Despite a net loss of $7.2 million, the company noted sequential improvement in losses through 2021. Adjusted EBITDA rose to $2.8 million. Bookings surged by 88% year-over-year, totaling $153.5 million, achieving a book-to-bill ratio of 1.37. Although supply chain issues impacted sales by approximately $10 million, the company anticipates stronger demand going into Q4 2021.

Astronics Corporation (Nasdaq: ATRO) will release its third quarter 2021 financial results before the market opens on November 8, 2021. Following the release, a conference call and webcast will be held to discuss the financial and operational results, along with corporate strategies and future outlook. A replay of the call will be accessible from 2:00 p.m. ET on the same day until November 15, 2021. The company focuses on providing innovative technology solutions for aerospace, defense, and mission-critical industries.

Astronics Corporation (Nasdaq: ATRO) has completed the sale of its Ft. Lauderdale facility for $9.1 million, with net proceeds of approximately $8.7 million. The company expects a $5 million gain in Q4 2021 from this transaction. Additionally, Astronics secured a grant of up to $14.7 million from the U.S. Department of Transportation, having already received $7.3 million. The grant will support employee retention and provide a gross profit contribution of $1.1 million in Q3 2021 and $7.3 million in Q4 2021.

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.

Astronics Corporation (Nasdaq: ATRO) reported its Q2 2021 financial results, highlighting a sales decline of 10.1% to $111.2 million, and a net loss reduced by 65.7% to $8.1 million, or $0.26 per diluted share. The aerospace segment experienced a 13% sales decrease to $89.2 million, yet achieved a solid book-to-bill ratio of 1.32. Despite ongoing supply chain pressures, Q2 bookings reached $126.3 million, leading to a backlog of $312.7 million. The company anticipates improved sales in the second half of 2021, projecting approximately $240 million in revenue.