Key Developments For Astronics Corporation
Astronics Corporation (ATRO.O) (Consolidated Issue listed on NASDAQ Global Market)
Astronics Corporation Lowers High End Of Prior FY 2009 Revenue Guidance To A Range In Line With Analysts' Estimates; Comments On FY 2010 Revenue Guidance
Astronics Corporation tightened fiscal 2009 revenue guidance to a range $190-$195 million which is comprised of approximately $156 million to $159 million for Aerospace sales and $34 million to $36 million for Test System sales. For fiscal 2010, it do not expect any improvement in sales compared with fiscal 2009 and could potentially see a slight decline. According to Reuters Estimates, analysts were expecting the Company to report revenues of $193 million for fiscal 2009.
Astronics Corporation Lowers FY 2009 Revenue Outlook
Astronics Corporation announced that for fiscal 2009, it has lowered revenue outlook to a range of $190 million to $200 million, down from the previously established guidance of $200 million to $210 million. The reduction in guidance was predicated on continued weakness in the commercial transport and business jet markets. In addition, the Company was informed that it was not the recipient of the U. S. Marine Corps' contract for a ground radio maintenance and test system, as had been expected. According to Reuters Estimates, analysts on an average were expecting the Company to report revenue of $202 million for fiscal 2009.
Astronics Corporation Announces $7.4 Million in Contracts from Asian Commercial Airlines for EMPOWER
Astronics Corporation announced that its subsidiary, Advanced Electronic Systems Corp. (AES), has signed contracts with two Asian commercial airlines totaling approximately $7.4 million for its EMPOWER In-Seat Power Supply System (ISPS). The contracts include intelligent power control systems, in-seat power converters, cables, and ancillary equipment that allow passengers to connect their personal electronic devices (PED) - including laptop computers - to AC power outlets installed in the aircraft. The systems are to be installed on both retrofit and new wide-body Airbus and Boeing aircraft. Deliveries, which initially began earlier this year, are expected to continue through mid-2011.
Astronics Corporation Lowers FY 2009 Revenue Guidance
Astronics Corporation lowered its fiscal 2009 outlook and expects revenue to be in the range of $200-$210 million down from previous guidance of $210 million to $225 million . According to Reuters Estimates, analysts were expecting the Company to report revenues of $215 million for the same period.
Astronics Corporation Lowers FY 2009 Revenue Outlook
Astronics Corporation lowered its fiscal 2009 outlook and expects revenue to be in the range of $210-$225 million. According to Reuters Estimates, analysts were expecting the Company to report revenues of $234 million for the same period. The Company cited weaker than anticipated demand necessitates as the primary reason for negative outlook.
