Financial Performance - Sales grew 18.2% to $185.1 million in the first quarter of 2024 compared to $156.5 million in the prior year[6] - Adjusted EBITDA increased to $19.1 million, or 10.3% of sales, up from $6.1 million, or 3.9% of sales in the prior year[8] - Consolidated net loss was $3.2 million, or $0.09 per diluted share, an improvement from a net loss of $4.4 million, or $0.14 per diluted share in the prior year[8] - Gross profit for the quarter was $34,191 thousand, with a gross margin of 18.5%, compared to a gross profit of $27,510 thousand and a margin of 17.6% in the prior year[29] - The net loss for the quarter was $3,178 thousand, improving from a net loss of $4,415 thousand in the same quarter of the previous year, resulting in a net loss margin of (1.7)% compared to (2.8)%[29] - Adjusted EBITDA for the quarter was $19,073 thousand, significantly up from $6,078 thousand in the prior year, with an adjusted EBITDA margin of 10.3%[33] - Corporate expenses and other increased to $7.8 million from $4.6 million in the prior year, impacting overall profitability[45] Sales and Backlog - Bookings for the quarter were $205.3 million, resulting in a record backlog of $612.5 million[2] - Backlog at the end of the first quarter included approximately $511.8 million expected to ship in 2024, representing about 86% of expected sales for the remainder of the year[19] - Total backlog as of March 30, 2024, was $612.5 million, reflecting an increase from $592.3 million in the previous quarter[49] - Book-to-bill ratio for the Aerospace segment was 1.13, indicating strong order intake relative to sales[49] Segment Performance - Aerospace segment sales increased 20.7% to $163.6 million, driven by a 28.9% increase in commercial transport sales[9] - Operating profit for the Aerospace segment was $12.1 million, with a margin of 7.4%, up from $4.1 million and a margin of 3.0% in the previous year[45] - Test Systems segment sales were $21.4 million, with a book-to-bill ratio of 0.93:1 for the quarter[14] - Test Systems segment reported sales of $21.4 million, a slight increase of 2.4% from $20.9 million, but incurred an operating loss of $3.1 million[45] - The company experienced a significant increase in sales from the Electrical Power & Motion product line, which rose by 55.5% to $83.1 million[46] Guidance and Future Outlook - The company is maintaining its 2024 revenue guidance of approximately $760 million to $795 million, representing a potential 13% increase over 2023 sales[19] - Planned capital expenditures for 2024 are expected to be in the range of $17 million to $22 million[19] Liquidity and Capital Structure - Available liquidity at the end of the quarter was $22.9 million, with net debt reduced to $160.0 million[17] - Cash and cash equivalents at the end of the period were $6,610 thousand, compared to $5,717 thousand at the end of the same period last year[39] - Accounts receivable and uncompleted contracts totaled $170,246 thousand, a decrease from $172,108 thousand at the end of 2023[36] - Inventories increased to $199,497 thousand from $191,801 thousand at the end of 2023, indicating a rise of 4.4%[36] - Total assets decreased to $629,964 thousand from $633,792 thousand at the end of 2023[36] Interest and Expenses - The company reported interest expense of $5,759 thousand, up from $5,470 thousand in the previous year[33] - Interest expenses increased to $5.8 million from $5.5 million year-over-year[45] - Capital expenditures for the quarter were $1,598 thousand, slightly higher than $1,573 thousand in the same period last year[39]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________________________________________ Form 10-K ___________________________________________________________ ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from__________ to __________ Commission File Number 0-7087 ...

Astronics Corporation (NASDAQ:ATRO) Q4 2023 Earnings Conference Call February 28, 2024 4:45 PM ET Company Participants Craig Mychajluk - IR Peter Gundermann - Chairman, CEO & President David Burney - EVP, Finance, CFO & Treasurer Conference Call Participants Pete Osterland - Truist Securities Jonathan Tanwanteng - CJS Securities Tony Bancroft - Gabelli Funds Operator Good day, and welcome to the Astronics Corporation Fourth Quarter Fiscal Year 2023 Financial Results Conference Call. [Operator Instructions] ...

Astronics Corporation (ATRO) came out with quarterly earnings of $0.20 per share, beating the Zacks Consensus Estimate of $0.12 per share. This compares to loss of $0.21 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 66.67%. A quarter ago, it was expected that this company would post earnings of $0.03 per share when it actually produced a loss of $0.18, delivering a surprise of -700%.Over the last four quarters, the company h ...

EAST AURORA, N.Y.--(BUSINESS WIRE)--Astronics Corporation (Nasdaq: ATRO), a leading provider of advanced technologies for global aerospace, defense and other mission critical industries, announced its fourth quarter 2023 preliminary unaudited revenue was $193 million to $195 million. At the mid-point of the range, preliminary revenue was up 23% over the prior-year period and up 19% over the trailing third quarter. Full year preliminary unaudited revenue for 2023 was approximately $688 million. Preliminary b ...

Astronics Corporation (NASDAQ:ATRO) Q3 2023 Earnings Conference Call November 8, 2023 4:45 PM ET Company Participants Deborah Pawlowski - Chairman, CEO and Founder, Kei Advisors LLC Peter Gundermann - Chairman, CEO & President David Burney - EVP, Finance, CFO & Treasurer Conference Call Participants Pete Osterland - Truist Securities Jon Tanwanteng - CJS Securities Operator Good afternoon, everyone, and welcome to the Astronics Corporation Third Quarter 2023 Financial Results Conference Call. [Operator Inst ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☒ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended September 30, 2023 or ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission File Number 0-7087 | --- | --- | |--------------------------------------------------------------------------------------------------- ...

Astronics Corporation (NASDAQ:ATRO) Q2 2023 Earnings Conference Call August 3, 2023 4:45 PM ET Company Participants Deborah Pawlowski - Chairman, CEO and Founder, Kei Advisors LLC Peter Gundermann - Chairman, CEO & President David Burney - EVP, Finance, CFO & Treasurer Conference Call Participants Jon Tanwanteng - CJS Securities Sam Struhsaker - Truist Securities Operator Good afternoon, and welcome to the Astronics Corporation Second Quarter Fiscal Year 2023 Financial Results Conference Call. [Operator Ins ...

Astronics Corporation (NASDAQ:ATRO) Q1 2023 Results Conference Call May 9, 2023 4:45 PM ET Company Participants Debbie Pawlowski - Chairman, CEO and Founder Peter Gundermann - Chairman, CEO & President David Burney - Executive VP of Finance, CFO & Treasurer Conference Call Participants Jon Tanwanteng - CJS Securities Pete Oberland - Truist Securities Scott Lewis - Lewis Capital Management Operator Good afternoon, and welcome to the Astronics Corporation First Quarter Fiscal Year 2023 Conference Call. [Opera ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________________________________________ Form 10-K ___________________________________________________________ ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from__________ to __________ Commission File Number 0-7087 ...