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Astronics Corp (ATRO.OQ)

ATRO.OQ on NASDAQ Stock Exchange Global Select Market

38.44USD
17 Nov 2017
Change (% chg)

$0.49 (+1.29%)
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Volume
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Latest Key Developments (Source: Significant Developments)

Astronics Corporation reports Q3 earnings per share $0.21
Tuesday, 7 Nov 2017 06:30am EST 

Nov 7 (Reuters) - Astronics Corp :Astronics Corporation reports 2017 third quarter financial results and issues preliminary guidance for 2018.Q3 earnings per share $0.21.Q3 earnings per share view $0.31 -- Thomson Reuters I/B/E/S.Sees FY 2018 revenue $675 million to $750 million.Astronics Corp qtrly ‍consolidated gross margin was 21.7% in Q3 of 2017 compared with 24.9% in Q3 of 2016​.Astronics Corp - ‍aerospace backlog was $233.2 million at end of q3 2017​.Astronics Corp qtrly ‍consolidated sales were $149.6 million, down $5.5 million from same period last year.Astronics Corp - ‍consolidated backlog at September 30, 2017 was $302.3 million, of which about $148.5 million is expected to ship in 2017​.Astronics Corp - ‍consolidated annual sales in 2017 expected to be in range of $622 million to $636 million​.Astronics Corp - ‍capital equipment spending in 2017 expected to be in range of $17 million to $19 million​.Astronics Corp - ‍Q3 results were a continuation of challenges we have had throughout 2017​.Astronics Corp - qtrly ‍consolidated revenue was nonetheless weaker than expected as programs continued to shift to right​.Astronics Corp - qtrly ‍operating margin and net income were "negatively" impacted​.Astronics Corp - ‍initial guidance for next year anticipates organic growth of well over 10%​.Astronics Corp - expect ‍acquisition of Telefonix PDT to close in next several weeks​.Astronics Corp - ‍anticipate co will revise 2018 revenue range upward before year begins​.  Full Article

Astronics acquires Telefonix
Friday, 27 Oct 2017 06:30am EDT 

Oct 27 (Reuters) - Astronics Corp :Astronics Corporation announces acquisition of Telefonix Inc.Astronics Corp - Deal for ‍approximately $104 million in cash​.Astronics Corp - Deal for ‍$104 million in cash​.Astronics Corp - ‍Acquisition is expected to be accretive to earnings in 2018​.Astronics - ‍Impact of deal on 2017 earnings will depend on closing date and one-time deal related charges, but is expected to be nominal​.Astronics Corp - ‍ Purchase price of deal funded with Astronics' senior revolving credit facility​.Astronics - ‍ Entered into definitive agreement to acquire substantially all of assets of Telefonix and related co, product development technologies​.  Full Article

Astronics says management, board has identified material weakness in internal control over financial reporting
Wednesday, 16 Aug 2017 09:38am EDT 

Aug 16 (Reuters) - Astronics Corp ::Says management, board has identified material weakness in internal control over financial reporting.Astronics - weakness identified in internal control over financial reporting of design of information technology change controls over report writing application.Astronics - management identified deficiencies in certain review controls over the financial statement consolidation process.Astronics says ‍plans to amend annual report on form 10-K for year ended Dec 31, 2016 & qtrly report on form 10-Q for period ended April 1, 2017 -SEC filing​.Astronics - information technology change controls, deficiencies in review control amount to material weakness over financial statement close as of Dec 31, 2016.Astronics - management does not expect adjustments to any previously issued financial statements as a result of these deficiencies.Astronics - internal control over financial reporting not effective at Dec. 31, 2016; disclosure controls, procedures not effective at Dec. 31, 2016, April 1, 2017.  Full Article

Astronics Corp files for non-timely 10-Q
Thursday, 10 Aug 2017 11:18am EDT 

Aug 10 (Reuters) - Astronics Corp ::Astronics Corp files for non-timely 10-Q - SEC filing‍​.Astronics - Unable to file quarterly 10-Q as management is in process of re-evaluating info technology general controls for certain info system at one unit.Astronics Corp - Based on the analysis to date, the company does not expect adjustments to any previously issued financial statements.  Full Article

Astronics Corp Q2 earnings per share $0.26
Wednesday, 2 Aug 2017 06:30am EDT 

Aug 2 (Reuters) - Astronics Corp ::Astronics Corporation reports 2017 second quarter financial results.Sees FY 2017 sales $625 million to $645 million.Q2 earnings per share $0.26.Q2 sales fell 8.1 percent to $151.1 million.Consolidated backlog at July 1, 2017 was $265.6 million, of which approximately $204.6 million is expected to ship in 2017.Capital equipment spending in 2017 is expected to be in range of $21 million to $25 million."We still expect the second half of the year to be stronger than the first half".FY2017 revenue view $649.6 million -- Thomson Reuters I/B/E/S.  Full Article

Astronics Corp reports Q1 EPS $0.38
Thursday, 4 May 2017 06:30am EDT 

May 4 (Reuters) - Astronics Corp :Astronics Corp reports 2017 first quarter financial results.Sees FY 2017 sales $635 million to $690 million.Qtrly sales $152.4 million versus $159.53 million.Q1 earnings per share $0.38.Says for FY 2017 about $545 million to $580 million of revenue is expected from aerospace segment.Says consolidated backlog at April 1, 2017 was $252.7 million, of which approximately $218.7 million is expected to ship in 2017.Says capital equipment spending in 2017 is expected to be in range of $21 million to $25 million.Q1 earnings per share view $0.32, revenue view $151.1 million -- Thomson Reuters I/B/E/S.FY2017 earnings per share view $1.86, revenue view $658.1 million -- Thomson Reuters I/B/E/S.  Full Article

Astronics unit acquires all assets, certain liabilities of Custom Control Concepts LLC for $10.7 mln
Thursday, 6 Apr 2017 05:29pm EDT 

Astronics Corp :Astronics - on April 3, unit of co acquired substantially all assets, certain liabilities of custom control concepts llc for was $10.7 million in cash.  Full Article

Astronics Corporation acquires Custom Controls Concepts
Monday, 3 Apr 2017 04:15pm EDT 

Astronics Corp : Astronics Corporation acquires Custom Controls Concepts .Astronics Corp - Astronics does not expect acquisition to materially impact 2017 earnings, and has not released terms of transaction at this time.  Full Article

Astronics qtrly earnings per share $0.33
Friday, 17 Feb 2017 06:30am EST 

Astronics Corp : Astronics Corporation reports 2016 fourth quarter and full year financial results . Sees FY 2017 sales $640 million to $720 million . Astronics Corp - consolidated sales in 2017 are forecasted to be in range of $640 million to $720 million . Qtrly earnings per share $0.33 . Says consolidated backlog at December 31, 2016 was $258.0 million .Astronics Corp - capital equipment spending in 2017 is expected to be in range of $17 million to $22 million.  Full Article

Astronics announces 15% Class B stock distribution
Monday, 26 Sep 2016 04:15pm EDT 

Astronics Corp : Stockholders will receive three shares of Class B stock for every twenty shares of common and Class B stock held . Astronics announces 15% Class B stock distribution . Fractional shares will be paid in cash .Expects new shares to be distributed on or about October 18, 2016.  Full Article

BRIEF-Astronics Corporation reports Q3 earnings per share $0.21

* Astronics Corporation reports 2017 third quarter financial results and issues preliminary guidance for 2018