AstroNova(US:ALOT)2024-04-12 12:30Acquisition and Business Segments - Astro Machine LLC was acquired on August 4, 2022, and is included in the PI segment starting Q3 of fiscal 2023[12]. - The PI segment includes brands such as QuickLabel, TrojanLabel, and GetLabels, providing a variety of digital color label printers and related supplies[14]. - The T&M segment includes high-speed data acquisition systems and products sold to industries such as aerospace, defense, and automotive[21]. - The company operates in approximately 100 countries, maintaining a leadership position in tabletop digital color label printing and flight deck printers[29]. Product Development and Offerings - The company introduced the QL-900, a wider format inkjet color label printer, in fiscal 2024, while obsoleting the QL-850 and QLS-4100 Xe to streamline product lines[17]. - The ToughWriter series of airborne printers is currently used in various aircraft, with approximately one-third of airborne printers sold being ToughWriter branded[23]. - The PI segment offers training and support, as well as specialized software for label design and printer management[20]. Financial Performance and Debt - The order backlog as of January 31, 2024, was $31.4 million, down from $35.8 million in 2023[31]. - The company has a total indebtedness of $12.2 million in term loan variable-rate debt and $8.9 million under its revolving credit facility as of January 31, 2024[134]. - The weighted average interest rate on the company's variable rate debt was 7.54% during fiscal 2024, while the revolving credit facility had a weighted average interest rate of 7.70%[135]. - A hypothetical 10% change in foreign currency exchange rates would result in an increase or decrease in consolidated net income of less than $0.1 million for the year ended January 31, 2024[133]. - Foreign exchange losses from transactional exposure amounted to $0.1 million for the year ended January 31, 2024[133]. Workforce and Company Culture - As of January 31, 2024, the company employed 365 full-time employees, with the majority located in the United States[36]. - The company is committed to diversity and inclusion, with targeted recruitment initiatives for women in technical and engineering roles[39]. - The company emphasizes a culture of integrity and compliance to ensure honest and environmentally responsible business practices[37]. - The company’s core values include Customer First, One Global Team, Innovation, Continuous Improvement, and Building Shareholder Value[38]. Quality and Operational Goals - The AstroNova Operating System (AOS) is utilized to manage business processes aimed at continuous improvements in quality, delivery, cost, and growth[37]. - The company aims for zero defects in its products, reflecting a strong commitment to quality[37]. - The company’s revenue is affected by the variable size of individual customer transactions, leading to fluctuations from quarter to quarter[40].