AstroNova(US:ALOT)2022-12-07 15:10Financial Data and Key Metrics Changes - The company reported record revenue of $39.4 million for Q3 2023, representing a year-over-year increase of 37% [7] - Non-GAAP operating income grew to $2.1 million, or 5.2% of revenue, compared to $300,000, or 1% of revenue, in the same period last year [15] - Non-GAAP net income for the quarter was $830,000, or $0.11 per diluted share, compared to $103,000, or $0.01 per share, in the year-ago period [16] Business Line Data and Key Metrics Changes - Product Identification revenue grew 36% to $29 million, largely due to the acquisition of Astro Machine [8] - Test & Measurement segment revenue increased about 38% year-over-year to $9.5 million, with supply shortages impacting potential growth [11] - Hardware sales increased 57% for the quarter to $11.9 million, while supplies revenue was up 27% to $23 million [13] Market Data and Key Metrics Changes - Year-to-date, the US accounted for $65.5 million in revenue, or 63.8% of total sales, with international revenue at $37.2 million, or 36.2% [14] - Bookings in Q3 increased more than 8% year-over-year to $35 million, marking the highest quarterly total since Q1 of fiscal 2020 [17] - Backlog at the end of the quarter increased 46.6% to $39.3 million from $26.8 million in the same period last year [17] Company Strategy and Development Direction - The integration of Astro Machine is on track, with management expressing excitement about future potential from this transaction [19] - The company is focused on new product innovation, including the launch of the QL-E100 full-color tabletop label printer [10] - Management highlighted the importance of expanding distribution channels and cross-selling opportunities following the acquisition [9] Management's Comments on Operating Environment and Future Outlook - Management acknowledged ongoing challenges such as inflation, supply chain shortages, and geopolitical volatility but expressed pride in the team's ability to navigate these issues [7] - The company is well-positioned to continue executing its growth strategy, supported by a record backlog and healthy order demand [19] - Management remains optimistic about the underlying fundamentals and secular trends shaping the business [19] Other Important Information - The company incurred $217 million in acquisition-related expenses during the quarter [14] - Inventory levels have grown due to supply chain challenges, and the company is taking measures to reduce inventory [18] Q&A Session Summary - No specific questions or answers were documented in the provided content, as the call concluded without a detailed Q&A segment [20]