Key Developments: Astronics Corp (ATROB.PK)

ATROB.PK on OTC Markets Group

53.00USD
11 Jul 2014
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Latest Key Developments (Source: Significant Developments)

Astronics Corp raises FY 2014 revenue outlook
Wednesday, 7 May 2014 06:55am EDT 

Astronics Corp:Raises FY 2014 sales to range of $625 -$660 mln.FY 2014 revenue of $595 mln - Thomson Reuters I/B/E/S.  Full Article

Astronics Corp completes acquisition of EADS North America test and services division
Monday, 3 Mar 2014 08:30am EST 

Astronics Corp:Completes the acquisition of all of the assets and liabilities of EADS North America's Test and Services division.For about $53 mln in cash plus a preliminary net working capital adjustment of $17 mln effective Feb. 28.  Full Article

Astronics Corp selected to supply exterior lighting system for Boeing 737 MAX
Tuesday, 25 Feb 2014 06:55am EST 

Astronics Corp:Says its subsidiary, Astronics Luminescent Systems Inc., has been awarded a multi-year contract to provide exterior lighting for the Boeing 737 MAX.Says Astronics will supply a full suite of products that provide the position, navigation and anti-collision lighting functions for the aircraft.  Full Article

Astronics Corp issues FY 2014 revenue guidance above analysts' estimates
Thursday, 13 Feb 2014 06:55am EST 

Astronics Corp:Expects fiscal 2014 sales to be in the range of $585 million to $640 million which includes about $100 million to $120 million for the previously announced planned acquisition of the Test business from EADS North America.Fiscal 2014 revenue of $483 million - Thomson Reuters I/B/E/S.  Full Article

Airbus' EADS North America to sell its Test and Services division to Astronics-GlobeNewswire
Monday, 20 Jan 2014 07:00pm EST 

Airbus Group NV:Airbus Group NV's U.S. subsidiary EADS North America entered into a definitive agreement to sell all of the assets and liabilities of its Test and Services division (EADS T&S) to Astronics Corp - GlobeNewswire.Astronics Corp is a provider of advanced technologies for the global aerospace and defense industries.The sale price is about $53 million in cash plus a net working capital adjustment.The agreement is expected to close in February, subject to normal closing requirements including Hart-Scott-Rodino approval.Upon closing, EADS T&S will be reported in Astronics' Test Systems segment.Houlihan Lokey acted as the exclusive financial advisor to EADS North America.  Full Article

Astronics Corp completes acquisition of PGA Electronic
Friday, 6 Dec 2013 04:30pm EST 

Astronics Corp:Says that it has completed the acquisition of PGA Electronic on Dec. 5, 2013 for about $31.2 million.Says about $17.5 million of the purchase price was paid in cash and the balance was paid by the issuance of 264,168 shares of Astronics common stock with a market value at the time of closing of $13.7 million.  Full Article

Astronics Corp Issues FY 2014 Revenue Guidance In Line With Analysts' Estimates
Tuesday, 5 Nov 2013 04:51pm EST 

Astronics Corp announced that its fiscal 2014 preliminary revenue outlook, which assumes completion of its recently announced PGA Electronic (PGA) acquisition by the end of 2013, to be approximately in the range of $450 million and $500 million. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $450 million for fiscal 2014.  Full Article

Astronics Corp Tightens FY 2013 Revenue Guidance To A Range In Line With Analysts' Estimates
Tuesday, 5 Nov 2013 06:55am EST 

Astronics Corp announced that it has tightened its fiscal 2013 revenue guidance to a range of $335 million to $345 million. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $339 million for fiscal 2013.  Full Article

Astronics Corp Announces Acquisition of PGA Electronic
Monday, 4 Nov 2013 04:30pm EST 

Astronics Corp announced that it has entered into a definitive agreement to acquire PGA Electronic (PGA) for approximately $28.5 million. The purchase price will be paid 60% in cash and 40% in Astronics stock. The deal is expected to close before year end.  Full Article

Astronics Corp Announces Acquisition Of Certain Assets And Liabilities From AeroSat Corporation
Tuesday, 1 Oct 2013 06:55am EDT 

Astronics Corp announced that it has acquired certain assets and liabilities from AeroSat Corporation, a supplier of aircraft antenna systems, for $12 million in cash, plus the potential for an earn out. Astronics expects the earnout will be between $5 and $20 million. Earnout payments will be due if AeroSat's 2014 revenue exceeds $30 million and if fiscal 2015 revenue exceeds $40 million. Earnout payments increase with revenue and are capped at $53 million. Astronics expects fiscal 2014 revenue from AeroSat will total $20 to $40 million; this would suggest a range from no earnout up to $3 million in earnout awarded. Raymond James acted as exclusive financial advisor to AeroSat Corporation on this transaction.  Full Article

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