EAST AURORA, NY, May 4, 2017 – Astronics Corporation(NASDAQ: ATRO), a leading supplier of advanced technologies and products to the global aerospace, defense, and semiconductor industries, today reported financial results for the three months ended April 1, 2017. Earnings per share for prior periods are adjusted for the 3 for 20 (15%) distribution of Class B Stock for shareholders of record on October 11, 2016.

Click here to view entire release, including financial tables.

East Aurora, NY | February 17, 2017- Astronics Corporation (NASDAQ: ATRO), a leading supplier of advanced technologies and products to the global aerospace, defense, and semiconductor industries, today reported financial results for the three and twelve months ended December 31, 2016. Earnings per share for all periods are adjusted for the 3 for 20 (15%) distribution of Class B Stock for shareholders of record on October 11, 2016.

Click here to see the full release

East Aurora, NY | February 24, 2016– Astronics Corporation (NASDAQ: ATRO), a leading supplier of products to the global aerospace, defense, consumer electronics and semiconductor industries, announced today that its Board of Directors has approved a share repurchase program, authorizing Astronics to repurchase in the aggregate up to $50 million of its outstanding common stock. Purchases by Astronics under this program may be made from time to time at prevailing market prices in open market purchases, privately negotiated transactions, block purchase techniques or otherwise, as determined by Astronics’ management. The program has no time limit and may be discontinued at any time at the Company’s discretion.

Peter J. Gundermann, President and Chief Executive Officer, commented, “This share repurchase initiative reflects the company’s belief that our shares represent an attractive investment opportunity. Our goal is to implement the repurchase program while maintaining our capital allocation strategy of reinvesting in the company both internally and externally for future growth.”

The purchases are expected to be funded by the Company’s operating cash flows and revolving credit facility. The timing of the purchases and the number of shares repurchased will depend upon business and financial market conditions. The Company is not obligated under the program to acquire any particular number of shares.

Click here to download the entire release.

• Aerospace sales up 6% in quarter driven by Electrical Power & Motion products
• Realized record annual sales of $692 million and record net income of $67 million in 2015
• Achieved record annual Aerospace sales of $550 million, up 11.1% over 2014
• 2016 sales guidance revised to $665 million to $725 million
East Aurora, NY | February 17, 2016– Astronics Corporation (NASDAQ: ATRO), a leading supplier of products to the global aerospace, defense, and semiconductor industries, today reported financial results for the fourth quarter and year ended December 31, 2015. Earnings per share for all periods presented are adjusted for the 3 for 20 (15%) distribution of Class B Stock for shareholders of record on October 8, 2015.

Peter J. Gundermann, President and Chief Executive Officer, commented, “Fourth quarter revenue was somewhat lighter than we expected, because some anticipated Aerospace deliveries slid out of the year and into 2016. Still, the quarter capped off a very strong year for our Company, one in which we set numerous records for financial performance, including record sales and record profits. We made solid progress in the year with our capabilities and our customer relationships, setting us up well for continued success in the future.”

Click here to download the entire release and accompanying financial tables.

• Common and Class B stockholders to receive Class B Stock

East Aurora, NY | September 10, 2015– Astronics Corporation (NASDAQ: ATRO), a leading supplier of products to the global aerospace, defense, consumer electronics and semiconductor industries, announced a 15% stock distribution of Class B Stock to holders of both Common and Class B Stock. Stockholders will receive three shares of Class B Stock for every twenty shares of Common and Class B Stock held on the record date of October 8, 2015, with an ex-dividend date of October 6, 2015. The Company expects the new shares to be distributed on or about October 22, 2015. Fractional shares will be paid in cash.

Astronics initially distributed shares of Class B Stock to Common and Class B stockholders in 1987, and has made distributions of Class B shares in each of the previous four years. Currently, there are approximately 17.3 million Common and 4.9 million Class B shares outstanding. After the distribution, approximately 17.3 million Common and 8.2 million Class B shares will be outstanding.

Astronics Class B Stock is entitled to ten votes per share while Common Stock is entitled to one vote per share. The economic value of one share of Class B Stock is equivalent to one share of Common Stock. Class B Stock is not a tradable security, but is convertible, at all times and without cost to the shareholder, into one share of Astronics Corporation Common Stock, which is tradable and provides shareholders of Class B Stock access to the market. Subject to certain exceptions, shares of Astronics Class B Stock automatically convert into an equal number of shares of Common Stock upon transfer.

Information regarding the Class B share distribution and instructions to convert Class B stock into Common stock can be found in the Frequently Asked Questions page of the Investor Relations section at www.astronics.com. Registered shareholders and brokers should contact the Company’s transfer agent, Wells Fargo Shareowner Services at (800) 468-9716, regarding the conversion of Class B Stock to Common Stock. Wells Fargo is the agent for the distribution.

Montierchaume, France | September 8, 2015– Astronics PGA Avionics, a wholly-owned subsidiary of Astronics Corporation (NASDAQ: ATRO) and an innovator of in seat motion systems, lighting systems, In-flight Entertainment & Connectivity systems (IFEC) and Cabin Management Systems (CMS), announced today that a Boeing 747-8 VVIP aircraft was outfitted by a completion center in Switzerland with a comprehensive, customized IP IFEC/CMS solution.

With Astronics PGA IP system controlling the entire cabin, the aircraft includes the latest suite of IFEC technologies including full HD screens, touch screens, audio/visual sources and passenger control units. The CMS simplifies control of the cabin environment from lighting and temperature to door closures. Astronics PGA has also integrated the latest technologies for DRM (Digital Right Management) and games into this innovative solution to offer passengers a unique in-flight experience.

Astronics PGA Avionics is well known for its innovative engineering and manufacturing of in seat motion, lighting and in-flight entertainment systems for commercial, VVIP and business jet aircraft. In seat motion systems are specifically designed for first class and business class seating, and consist of linear or rotary actuators, a control module and a range of custom wiring harnesses, all of which satisfy the latest standards for B787 and A350 aircraft. Seat lighting systems are customized to accommodate various lighting scenarios for reading and ambiance, and designed to suit a broad array of décor. As a leading manufacturer for the corporate and VVIP aviation market, its full-HD audio/video in-flight entertainment and cabin management system solutions are flexible and convenient with a user-friendly interface that gives the user control over all in-cabin features from lighting to the hostess call function, door closure, satellite TV, security camera, moving-map systems, and power management systems.

• 2015 second quarter diluted earnings per share was $0.77
• Record Aerospace backlog of $236.3 million
• Aerospace Electrical Power & Motion product line continued double digit quarterly growth with sales up 11.9% compared with prior year
• Tightened full year revenue guidance to $680 million to $715 million, representing 3% to 8% consolidated growth over 2014, with Aerospace growing 10% to 15%

East Aurora, NY | August 5, 2015– Astronics Corporation (NASDAQ: ATRO), a leading supplier of products to the global aerospace, defense, consumer electronics and semiconductor industries, today reported financial results for the second quarter and six months ended July 4, 2015.

Peter J. Gundermann, President and Chief Executive Officer, commented, “Astronics performed well with second quarter sales and earnings both among our best ever. Our Aerospace Segment continued to show solid overall growth and our Test Segment was nicely profitable despite reduced volume compared to last year.”

Consolidated Review
Second Quarter 2015 Results

Consolidated sales for the second quarter of 2015 were $173.2 million, down slightly from $174.6 million for the same period last year as strength in Aerospace sales helped to offset lower Test Systems segment sales. The 2015 second quarter included $7.1 million in sales from Armstrong Aerospace, Inc. (“Armstrong”), acquired on January 14, 2015. Organic sales for the quarter decreased $8.5 million, or 4.9%, on lower Test System segment sales.

Consolidated gross margin was 28.6% in the second quarter of 2015 compared with 24.7% in the second quarter of 2014. The second quarter of 2014 included $8.7 million of inventory fair value step-up expense of acquired businesses compared with $0.1 million in the second quarter of 2015. Engineering and development (“E&D”) costs were $21.3 million in the second quarter of 2015, including $1.6 million for Armstrong. E&D costs in last year’s second quarter were $20.7 million. As a percent of sales, E&D was 12.3% and 11.9% in the second quarters of 2015 and 2014, respectively.

Selling, general and administrative (“SG&A”) expenses were $21.3 million, or 12.3% of sales, in the second quarter of 2015 compared with $20.7 million, or 11.9% of sales, in the same period last year. The increase was due primarily to the incremental SG&A costs of Armstrong, which added approximately $1.6 million to SG&A in the second quarter of 2015, including $0.7 million of amortization expense for acquired intangible assets of that business.
Diluted earnings per share for the 2015 second quarter were $0.77 compared with $0.58 in the prior-year period, an increase of 32.8%.

First Half 2015 Results

Consolidated sales for the first six months of 2015 increased by $19.3 million, or 6.1%, to $334.8 million from $315.5 million for the same period last year. The acquisition of Armstrong contributed $13.8 million to consolidated sales, while consolidated organic sales increased $5.5 million, or 1.7%.

Consolidated gross margin was 26.8% in the first six months of 2015 compared with 23.2% in the first six months of 2014. The first six months of 2014 included $17.4 million of inventory step-up expense compared with $0.7 million in the first six months of 2015. E&D costs were 13.0% of sales, or $43.6 million, which included $3.0 million for Armstrong, compared with $37.9 million, or 12.0% of sales, in the prior year’s first six months.

Selling, general and administrative (“SG&A”) expenses were $43.9 million, or 13.1% of sales, in the first six months of 2015 compared with $37.1 million, or 11.8% of sales, in the same period last year. The increase was due primarily to the incremental SG&A costs of Astronics Test Systems, Inc. (“ATS”, acquired on February 28, 2014) and Armstrong, which collectively added approximately $4.4 million to SG&A in the first six months of 2015, including $1.7 million of amortization expense for acquired intangible assets of those businesses. Additionally, higher SG&A expense reflected increased headcount and compensation costs to support growth.

Diluted earnings per share for the first six months of 2015 were $1.24 compared with $0.91 for the same period last year, an increase of 36.3%.

Aerospace Segment Review (refer to sales by market and segment data in accompanying tables)
Aerospace Second Quarter 2015 Results

Aerospace segment sales increased by $10.6 million, or 8.8%, when compared with the prior year’s second quarter to $132.2 million. Organic sales grew 2.9%, or $3.5 million, and sales from Armstrong added $7.1 million. Sales in the 2015 second quarter were the Company’s second highest, following the first quarter of 2015.

Sales to the Commercial Transport market increased $11.1 million, of which $7.1 million was related to the acquisition of Armstrong, primarily comprised of Systems Certification sales. The remaining increase was primarily higher sales of Electrical Power & Motion products, which increased $8.0 million, or 13.9%, partially offset by lower sales of Avionics products. Sales of Avionics products to the Commercial Transport market decreased by $2.6 million. Sales to the Military market decreased $1.8 million when compared with last year’s second quarter. Sales to the Business Jet market increased $0.8 million compared with the same period last year.
Aerospace operating profit for the second quarter of 2015 was $20.3 million, or 15.3% of sales, compared with $20.8 million, or 17.1% of sales, in the same period last year. Operating margins were negatively affected by increased E&D spending, lower operating margin from the Armstrong business and a general increase in operating costs. Organic Aerospace E&D costs increased $0.4 million compared with last year’s second quarter. Aerospace SG&A expense increased $1.7 million in the second quarter of 2015 as compared with 2014. Incremental SG&A from Armstrong was $1.6 million, including $0.7 million of purchased intangible asset amortization expense for acquired intangible assets.

Aerospace First Half 2015 Results

Aerospace segment sales increased by $30.6 million, or 12.6%, when compared with the prior year’s first six months to $274.5 million. Organic sales grew 6.9%, or $16.8 million, and sales from Armstrong added $13.8 million.

Sales to the Commercial Transport market increased $32.0 million, of which $13.8 million was related to the acquisition of Armstrong, primarily comprised of Systems Certification sales. The remaining increase was primarily higher sales of Electrical Power & Motion, Lighting & Safety and Avionics products. Sales of Electrical Power & Motion products to the Commercial Transport market increased approximately $12.6 million, or 10.5%. Sales of Lighting & Safety products to the Commercial Transport market increased by $5.0 million. Sales of Avionics products to the Commercial Transport market increased by $3.3 million. Sales to the Military market decreased $1.5 million when compared with last year’s first six months, due to lower sales of Electrical Power & Motion and Other products, partially offset by higher sales of Lighting & Safety products to this market. Sales to the Business Jet market decreased $1.0 million during this period due to lower sales of Lighting & Safety products to this market.

Aerospace operating profit for the first six months of 2015 was $43.7 million, or 15.9% of sales, compared with $38.3 million, or 15.7% of sales, in the same period last year. Operating leverage gained on increased volume for the organic business was partially offset by higher organic E&D costs of approximately $2.3 million. Aerospace SG&A expense increased $4.3 million in the first six months of 2015 as compared with 2014. Incremental SG&A from Armstrong was $2.7 million, including $1.1 million of purchased intangible asset amortization expense for acquired intangible assets. The first six months of 2014 included inventory step-up costs of $2.4 million that reduced normal operating margins for that period.

Mr. Gundermann commented, “Our Aerospace Segment continues to perform well with sales up almost 13% year-to-date and continued strong margins. We have had our strongest volume in our
history in the last two quarters, bookings have more than kept pace and backlog is at record levels, suggesting continued strength going forward.”

Aerospace backlog at the end of the 2015 second quarter was $236.3 million and the book-to-bill ratio for the period was 1.02.

Test Systems Segment Review (refer to sales by market and segment data in accompanying tables)
Test Systems Second Quarter 2015 Results

Sales in the second quarter of 2015 decreased approximately $12.0 million to $41.0 million compared with the same period in 2014, a decrease of 22.7%.

However, operating profit was $9.9 million, or 24.1% of sales, compared with $4.0 million or 7.6%
of sales in last year’s second quarter. The 2014 second quarter reflects non-recurring purchase accounting related inventory step-up costs of $8.7 million that reduced normal operating margins for that period. This effect was partially mitigated by a decrease in E&D costs of approximately
$1.3 million, to $2.8 million in the second quarter of 2015 from $4.1 million in the prior-year period.

Test Systems First Half 2015 Results

Sales in the first six months of 2015 decreased 15.8% to $60.3 million compared with sales of $71.6 million for the same period in 2014, due to lower shipments to the Commercial Electronics market. Sales to the Commercial Electronics market decreased $21.2 million compared with the same period in 2014, which was partially offset by increased sales of $9.9 million to the Military market.

Operating profit was $7.6 million, or 12.7% of sales, compared with $2.3 million, or 3.2% of sales, in the first six months of 2014. The first six months of 2014 reflected inventory step-up costs of $15.0 million that reduced normal operating margins in that period.

Mr. Gundermann commented, “Our volume in the Test business is dictated by customer schedules, but demand was strong in the second quarter and operating results were positive. The business is doing a good job of managing its cost structure while maintaining a high level of responsiveness to its customers.”

Backlog at the end of the second quarter for Test Systems was $115.7 million.

Forecast

Consolidated sales in 2015 are forecasted to be in the range of $680 million to $715 million. Approximately $545 million to $570 million is forecasted from the Aerospace Segment, adjusted from first quarter 2015 expectations of $550 million to $580 million. Test Systems segment revenue for 2015 is now expected to be approximately $135 million to $145 million, a tighter range of expectations compared with the $130 million to $160 million previously expected.

The midpoints of these ranges imply that the Aerospace Segment is expected to grow approximately 13% in 2015 and the Test Segment is expected to decline approximately 16%.

Consolidated backlog at July 4, 2015 was $352.0 million, of which $263.0 million is expected to ship in 2015.

Capital expenditures were $12.3 million in the first half of 2015 and are expected to be in the range of $20 million to $27 million for the year. E&D costs are estimated to be in the range of $75 million to $80 million.

Mr. Gundermann concluded, “We are in position for a strong close to the year. We expect the third quarter, in particular, will be a record setter with consolidated revenue of about $200 million. Our fourth quarter will be somewhat slower, depending on the rate of short-term bookings, which we are

East Aurora, NY | July 2, 2015– Astronics Corporation (NASDAQ: ATRO), a leading supplier of products to the global aerospace, defense, electronics and semiconductor industries, today announced that Bell Helicopter, a Textron Inc. (NYSE: TXT) company, has successfully completed first flight of the Bell 525 Relentless. Astronics AES is proud to be a part of the Bell 525 Relentless team by providing the secondary electrical power distribution system. The power system features Astronics’ COREPOWER® Electronic Circuit Breaker Units (ECBUs).

The ECBU offers greatly enhanced reliability, lower system cost and weight reduction. These solid state units manage power throughout the aircraft and provide fault detection, circuit protection and programmable load management through automated power control functions, helping to reduce pilot workload and improve crew awareness.

“We are excited to continue our successful relationship with Bell Helicopter on the Bell 525 Relentless,” said Kellsey Justus, vice president of Astronics AES Airborne Power & Control. “The seamless integration of our ECBUs with the avionics showcases our product’s capabilities while providing a significant increase in automation and improved situational awareness for the pilot.”

ECBUs significantly simplify the electrical power distribution system by eliminating electromechanical switches, thermal breakers, relays, contactors, and significant wire content. In addition to wire protection, the potential for automated switch control can eliminate many standalone utility control systems. This can be accomplished in a manner that provides simplification and increases fail safe redundancy.

• Record full year diluted earnings per share were $2.48 vs. $1.24 in prior-year
• 2014 revenue increased by $321.1 million, or 94.5%, with organic sales up $50.7 million, or 14.9%
• Fourth quarter bookings and backlog reached new records of $235.4 million and $370.7 million, respectively

East Aurora, NY | February 19, 2015– Astronics Corporation (NASDAQ: ATRO), a leading provider of advanced technologies for the global aerospace, defense, consumer electronics and semiconductor industries, today reported financial results for the fourth quarter and year ended December 31, 2014. Earnings per share for all periods presented are adjusted for the twenty percent distribution of Class B Stock for shareholders of record on September 5, 2014.
Read more here

East Aurora, NY | January 15, 2015– Astronics Corporation (NASDAQ: ATRO), a leading provider of advanced technologies for the global aerospace and defense industries, announced today that it completed the acquisition of Armstrong Aerospace (“Armstrong”) for approximately $52 million in cash on January 14, 2015.

Astronics previously announced that it had entered into a definitive agreement to acquire Armstrong on December 24, 2014.

Armstrong Aerospace, located in Itasca, Illinois, was founded in 1996 and has 81 employees. Armstrong is a leading provider of engineering, design and certification solutions for commercial aircraft, specializing in connectivity, in-flight entertainment, and electrical power systems. For 2014, Armstrong had sales of approximately $27 million.

East Aurora, NY | December 24, 2014– Astronics Corporation (NASDAQ: ATRO), a leading provider of advanced technologies for the global aerospace and defense industries, announced today that it has entered into a definitive agreement to acquire Armstrong Aerospace (“Armstrong”) for approximately $51 million. The agreement is expected to close in January 2015, subject to normal closing requirements.

Armstrong Aerospace, located in Itasca, Illinois, is a leading provider of engineering, design and  certification solutions for commercial aircraft, specializing in connectivity, in-flight entertainment, and electrical power systems. Armstrong sales for 2014 are expected to be approximately $27 million.

Peter J. Gundermann, CEO of Astronics, commented, “I am pleased to include Armstrong in the expanding range of capabilities that Astronics has to offer, specifically in the connectivity and power  niche for commercial airlines. Armstrong has a strong entrepreneurial spirit, advanced engineering proficiency and significant experience in providing certifications for OEMs, integrators and airlines. And, like us, they have a history of solid growth.”

With this acquisition, Astronics now expects 2015 revenue will be between $680 million to $725 million

Mesirow Financial acted as the exclusive financial advisor to Armstrong Aerospace.

• Common and Class B stockholders to receive Class B Stock

East Aurora, NY | August 21, 2014– Astronics Corporation (NASDAQ: ATRO), a leadingprovider of advanced technologies for the global aerospace and defense industries, announced a 20% stock distribution of Class B Stock to holders of both Common and Class B Stock. Stockholders will receive one share of Class B Stock for every five shares of Common and Class B Stock held on the record date of September 5, 2014, with an ex-dividend date of September 3, 2014. The Company expects the new shares to be distributed on or about September 19, 2014. Fractional shares will be paid in cash.

Astronics initially distributed shares of Class B Stock to Common and Class B stockholders in 1987,and has made distributions of Class B shares in each of the previous three years. Currently, there are approximately 14.1 million Common and 4.0 million Class B shares outstanding. After the distribution, approximately 14.1 million Common and 7.6 million Class B shares will be outstanding.

Astronics Class B Stock is entitled to ten votes per share while Common Stock is entitled to one vote per share. The economic value of one share of Class B Stock is equivalent to one share of Common Stock. Class B Stock is not a tradable security, but is convertible, at all times and without cost to the shareholder, into one share of Astronics Corporation Common Stock, which is tradable and provides shareholders of Class B Stock access to the market. Subject to certain exceptions, shares of Astronics Class B Stock automatically convert into an equal number of shares of CommonStock upon transfer.

Information regarding the Class B share distribution and instructions to convert Class B stock into Common stock can be found in the Frequently Asked Questions section of Astronics’ website at www.astronics.com. Registered shareholders and brokers should contact the Company’s transfer agent, American Stock Transfer & Trust Company (AST) at (800) 937-5449, regarding the conversion of Class B Stock to Common Stock. AST is the agent for the distribution.

East Aurora, NY | August 6, 2014– Astronics Corporation (Nasdaq:ATRO), a leading provider of advanced technologies for the global aerospace and defense industries, announced today that its wholly-owned subsidiary, Ballard Technology, Inc. (Astronics Ballard Technology) is a key technology partner with Cathay Pacific Airways and will supply the Aircraft Interface Device (AID) for their innovative new eEnabled Aircraft Program.

Aircraft Interface Devices are an essential part of many avionics upgrades, such as electronic flight bag (EFB) and in-flight entertainment and connectivity (IFEC) systems, where they serve avionics data while protecting aircraft control domains from interference and corruption. The Cathay Pacific eEnabled Aircraft solution is an advanced system for connectivity and integration with ground systems. It provides a comprehensive, integrated electronic information exchange, which will replace existing manual processes to record, manage and distribute information for flight operations, line maintenance engineering and cabin defect management.

Extensive capabilities and a record of successful deployments were key factors in the decision by Cathay Pacific to select the Astronics AID for their eEnabled Aircraft Program. The Astronics AID is small, lightweight and rugged. It features an embedded microprocessor, high I/O density, and an internal PMC slot for functionality and I/O expansion.

“We enhanced our Aircraft Interface Device to include our Ethernet Switch Module, which allowed the unit to satisfy two of Cathay Pacific’s key system requirements in a single package. We believe this adds significant value to the eEnabled Aircraft Program by simplifying deployment and reducing system size, weight, and power consumption,” noted Peter J. Gundermann, President and CEO of Astronics Corporation.

Astronics Ballard Technology partnered with Cathay Pacific in a successful two-year development to bring the eEnabled Aircraft system to fruition. Cathay Pacific is now carrying out an Operational Evaluation with three Boeing 777 aircraft and when completed, plans to roll out the eEnabled system across its fleet of Boeing 777 and Airbus A330 passenger aircraft as well as Boeing 747 freighter aircraft. Cathay Pacific will also implement the eEnabled technology in the A330s and A320/1’s in the passenger fleet of Group airline Dragonair.

• Record quarterly sales of $174.6 million increased 146.4% from

2013 second quarter

•   Second quarter organic sales of $80.8 million, up 14.1% over

2013 second quarter

• 2014 full year sales expected to be in the range of $640 million to $665 million

East Aurora, NY | July 30, 2014– Astronics Corporation (NASDAQ: ATRO), a leading provider of advanced technologies for the global aerospace and defense industries, today reported financial results for the three months ended June 28, 2014. Financial results include the effect of four business acquisitions Astronics completed from July 2013 through the end of the 2014 first quarter, of which three were in its Aerospace segment and one was in the Test Systems segment.
Read More…

East Aurora, NY | May 21, 2014– Astronics Corporation (NASDAQ: ATRO), a leading provider of advanced technologies for the global aerospace and defense industries, announced today that it has been selected to provide the primary power distribution system for the Daher-Socata TBM 900 aircraft.

The Electronic Power System from Astronics combines alternator, generator, and primary power bus system control into a single unit, allowing semi-automatic start-up. The system also includes an integrated external power control function which allows connection of any power source to the main bus. The system design reduces the number of separate controllers, improving system reliability and reducing aircraft weight. Designed for easy installation and maintenance, the Astronics Electronic Power System is the perfect solution for today’s modern aircraft.

“This award validates that the Astronics Electrical Power Distribution System (EPDS) can improve safety, reduce crew workload and reduce weight in the high performance TBM 900 turboprop aircraft, just as it does in rotary and turbojet aircraft,” noted Peter J. Gundermann, President and CEO of Astronics Corporation.

DAHER-SOCATA’s TBM 900 is the world’s fastest single turboprop aircraft which combines cruising speed and trip times of a light jet with the economic direct operating costs, range and moderate environmental signature of a turboprop engine. The maximum range and useful load, as well as the ability to land at small airports, are key features that drive the aircrafts’ popularity.

• Record quarterly sales of $141.0 million, up 90.6% from 2013 first quarter
• Organic sales of $82.1 million, up 11.0% from 2013 first quarter
• Completed acquisition of Astronics Test Systems (“ATS”) on February 28, 2014
• Raises 2014 full year sales forecast to range of $625 million to $660 million

East Aurora, NY | May 7, 2014– Astronics Corporation (NASDAQ: ATRO), a leading provider of advanced technologies for the global aerospace and defense industries, today reported financial
results for the three months ended March 29, 2014. Click for Full Release

It’s no secret that AIX is the worlds biggest Aircraft Interiors show (perhaps up to 10,000 visitors this year) and we wanted to give you a quick look at a few show-goers who have contacted us with booth and product information. Of course IFExpress will be there searching for new products and product improvements, new services, and interviews with the folks who bring you IFExpress. You can reach us via email: plwiseman@gmail.com, Mobile/Text: +1 206 229 7899, and we will have the Fire Chat app turned on (TerryW).

Aircraft Cabin Systems:
Booth #: 6C37
ACS will feature IFE Displays (10.4”-65” and 9.7”) as well as their recently patented 12” Retractable monitor at AIX this April. Additionally, ACS is collaborating with TEAC during AIX. TEAC is introducing their new video player at the Expo.
Contact: Charles Reerink
Mobile: + 33 608 907 746
Contact: Rick Routly
Email: rroutly@aircraftcabinsystems.com
Contact:Yukio Sugimoto
Email: sugimotoy@aircraftcabinsystems.com
Contact: Richie Sugimoto
Email: rich@aircraftcabinssytems.com

Armstrong Aerospace
The Armstrong Aerospace PowerBox™ and PowerBar™ are revolutionary off-seat power solutions that are available today. PowerBox™ and PowerBar™ attach to the floor seat tracks and do not touch the seats they are installed to support. This greatly eases the installation and risk for upgrading your cabin, and it ensures no new seat TSO activities or seat recertification efforts are required. PowerBox™ and PowerBar™ are capable of being used with any outlets and electrical distribution on the market today, making them the most flexible for installation. The simplicity of this design ensures they can be installed rapidly, typically in less than one day for a narrow body, and two days for a wide body.

The Armstrong Aerospace BirdStriker™ is the bird deflector device that is available TODAY to meet your bird strike certification needs.
BirdStriker™ ensures operators can benefit by:
• Finding Compliance with 14 CFR 25.571e1
• Improving aerodynamic efficiency of existing radomes by up to 30%
• Maintaining RF integrity of existing radomes
• Avoiding expensive and heavy installations due to the BirdStriker™ lightweight, composite material design
• Installations can be performed in less than 10 hours
Furthermore, Armstrong Aerospace was actively involved in the recent ARC recommendations to the FAA. (Note: Armstrong Aerospace will be walking the 2014 AIX floor.)
Contact: Kevin Weppner
Email: kevin.weppner@armstrongaerospace.com
Mobile: +1.630.280.9295

Astronics Corporation
Booth #: 6B30
Astronics Corporation (NASDAQ: ATRO) is a leader in advanced high-performance lighting, electrical power, specialized avionics products and automated test systems for the global aerospace and defense industries. Astronics Corporation, and its wholly-owned subsidiaries, AeroSat*, Astronics Advanced Electronics Systems Corp.*, Ballard Technology, Inc., DME Corporation*, Luminescent Systems Inc.*, Max-Viz, Inc., PECO*, and PGA Electronic*, have a reputation for high-quality designs, exceptional responsiveness, strong brand recognition and best-in-class manufacturing practices. For company news and other important information, visit the website at www.astronics.com. (* – Exhibiting at AIX)
Contact: Dennis Markert
Email: dennis.markert@astronics.com
Mobile: +1.425.442.8195

digEcor
Booth #: 6B11
digEcor provides a low-cost, end-to-end cabin technology and inflight entertainment solution by specializing in personal media and AVOD platforms, mobile cabin crew applications, and being a global content service provider. We’ll be showcasing the GLIDE IFE embedded system, the next generation of digEplayer, Engage mobile cabin crew and passenger experience solution, as well as in seat power and the latest content services. Our focus is on increasing traveler satisfaction while creating easily executed customized solutions and generating ancillary revenue for clients. We are enabling airlines to create extraordinary travel experiences.
Contact: Ben Fuller
Email: Ben.Fuller@digecor.com
Phone: +1-801-691-7225

IFPL
Booth #: 6C10
IFPL will be showcasing their latest designs at AIX 2014 and will be demonstrating how you can BREAK FREE, CHARGE, PAY UP and GO!

IFPL is an established design and manufacturing company well known for its industry standard IFEC products. Their success is built on meeting passenger needs for multi-media connectivity and reliable access to the in-flight entertainment.

BREAK FREE! IFPL’s Breakaway Jack solves the problem of broken headphone plugs. Leading on from the Single Pin Jack, the Breakaway Triple Jack (1272) is an exciting new concept for use with powered noise cancelling headsets. The use of the 1272 Triple Jack requires no physical modification to the seatback.

CHARGE! IFPL have listened to their customers and are pleased to present a Stand-Alone USB outlet that will provide 2A output.

PAY-UP! IFPL’s Contactless Retail System uses NFC technology to allow passengers to pay using their contactless card. This payment system has shown an increase of up to 15% of sales in the vending market.

GO! IFPL’s Self-Testing jack enables quick and easy visual system audio check, verified with just a glance.
Contact: Neil Thomas | Business Development Manager
Email: neil.thomas@ifpl.com
Mobile: +44 (0) 778 698 7454
Contact: Mark Reed | Business Development Engineer
Email: mark.reed@ifpl.com

Inmarsat
Booth #: 6E31
Inmarsat will talk about the developments in its global satellite services, in particular with GX Aviation developments.
Contact: Paula Ferrai
Email: Paula.Ferrai@inmarsat.com
Mobile: +41 79 874 06 08

KID-Systeme
Booth #: B6C40
KID-Systeme will be exhibiting at this year’s Aircraft Interiors Expo in Hamburg, from 8-10 April 2014, to demonstrate its two ground-breaking cabin systems: SKYpower, the internationally trusted seatpower system, and SKYfi, a revolutionary modular onboard connectivity platform. With a new design and an innovative product development, KID is looking forward to welcoming their customers on their booth in hall B6.
Contanct: Maren Müente
Email: maren.muente@kid-systeme.de
Mobile: +49 171 5660630

Lufthansa Systems
Booth #: Hall B6 6B47
Lufthansa Systems will be showcasing additional new products for its award-winning infotainment platform BoardConnect, presenting the solution as a fully-featured integration platform for the first time. Visitors to the company’s booth will be able to experience the user-friendly, versatile and innovative IFE solution using their own tablets, smartphones and laptops – as they would do on board. The appropriate apps for Android, iOS and Windows 8 are available for downloading from the app stores.

New features like chat, an online shop and a moving map with points of interest (POI) on different topics will add even more variety to the passenger’s in-flight experience. Passengers can find out about events taking place at their destination, obtain a restaurant recommendation, and even make a reservation online (via satellite, for instance). The BoardConnect platform’s content caching service maintains popular sites on the server, which not only speeds up access to these pages but also saves the airline expensive satellite bandwidth.

The new, easy-to-use, fast and automated Cabin Data Loader takes care of monthly content updates to the on-board servers and the latest LTE technology ensures speedy daily updates of dynamic content such as news and newspapers at speeds of up to 100 Mbps.
Other new hardware components to be shown by Lufthansa Systems will include the on-board Wireless Access Point developed by Lufthansa Technik, which supports 802.11 ac (the fastest current Wi-Fi standard) as well as delivering high-definition video throughout the cabin.
Contact: Sandra Hammer
Email: publicrelations@lhsystems.com

Lumexis
Booth #: 6E40
LUMEXIS FTTS IFE Systems – Best By Every Measure – Lightest Weight | Greatest Capacity | Highest Reliability. We invite you to visit Stand 6E40 during the 2014 AIX and allow us to demonstrate why FTTS has become the benchmark for the entire IFE industry. Please do not hesitate to contact me to make an appointment or to request further information. Looking forward to seeing you in Hamburg.
Contact: Jon Norris (VP Sales)
Email: jnorris@lumexis.com
Mobile: +1 949 436 1434

OnAir
Booth #:6D38
OnAir will be discussing its latest deals with airlines, as well as looking to the future of inflight connectivity, as it begins to include cabin crew, cockpit and airline operational applications.
Contact: Aurélie Branchereau-Giles
Email: aurelie.branchereau@onair.aero
Mobile: +44 78 676 15 46

Panasonic Avionics Corporation
Booth #: 6C36
At Aircraft Interiors in Hamburg, Panasonic will be showcasing the breadth of its IFE offering on its stand, demonstrating embedded and wireless IFE systems, and its award-winning Global Communications Services inflight connectivity offering.
Panasonic will be making a number of announcements at Aircraft Interiors, with several relating to the breadth and depth of its uniquely global satellite network.
Contact: Brian Bardwell
Email: Brian.Bardwell@panasonic.aero
Mobile: +1 949 573 6833

Stellar Group
Hall B6.1
With 40 years of experience as a Content Service Provider (CSP) Stellar’s focus is to work with Airilnes to understand the myriad of options in IFE, especially in regards to Tablets, streaming and connectivity. Afterall, Stellar Group was the first CSP to secure content onto iPads, as well as, the first CSP to secure content via wireless streaming.
Contact: Joel Joslin
Email: joel.joslin@stellargroup.com
Mobile: +61 414 944 302

Telefonix, Inc.
Booth #: 6C43
During AIX 2014 Telefonix will showcase products in 3 primary categories: 1)Passenger experience products, such as Passenger Control Units, Entertainment and Connectivity Hardware, which includes media loading devices, aircraft servers, etc. 2) Their CWAP design 3) And finally, in conjunction with their partner company Product Development Technologies (PDT), custom product design services.
Contact: Allison Burke
Email: aburke@telefonixinc.com

VT Miltope
Booth #: 6.1B17
Miltope’s family of network products offer the required functionality necessary to create custom airborne networks similar to how office networks are created. Our products optimize the combination of interfaces and computing resources to meet operational, spatial, and functional requirements of simple to complex airborne systems at minimum cost. Products include servers, Ethernet switches, wireless access points, TWLU aircraft to ground wireless link, control panels, and data storage devices. This year we will be featuring our latest wireless products, nMAP2 (wireless access point) and cTWLU (cellular ground link).
Contact: Markus Gilges | Director, Business Development
Email: mgilges@miltope.com
Mobile: +44 7793 758 755

Zodiac Inflight Innovations
Booth #: 6B20
Zodiac Inflight Innovations (formerly The IMS Company and TriaGnoSys) has been providing innovative solutions for the aviation industry for decades. Our business strategy can best be described as RAVE (Reliable, Affordable, and Very Easy). Already famous for our reliable passenger-centric embedded AVOD system (RAVE), we have recently expanded our product line to include connectivity features. Zii offers RAVE Wireless, a streaming IFE solution that lets passengers enjoy entertainment streamed directly to their personal devices. RAVE Cellular allows passengers to use voice, SMS and data services on their phones, which are billed directly to the passenger’s own mobile carrier. With RAVE Broadband, passengers can stay connected in the sky with unprecedented Ka-Band connection speeds. With this full line of IFEC product offerings, Zii uses a modular concept allowing customers to pick and choose which of these features are most important to them and their passengers. RAVE has had much success in the retrofit market and is currently making great progress toward line fit offerability at both Airbus and Boeing.
Contact: Harry Gray
Email: hgray@imsco-us.com
Mobile: +1 714 854 8633

East Aurora, NY | March 3, 2014– Astronics Corporation (NASDAQ: ATRO), a leading provider of advanced technologies for the global aerospace and defense industries, announced that it completed on February 28, 2014, the acquisition of substantially all of the assets and liabilities of EADS North America’s Test and Services division (EADS T&S) for approximately $53 million in cash plus a preliminary net working capital adjustment of $17 million. EADS T&S will be reported in Astronics’ Test Systems segment.

Astronics had previously announced that it entered into a definitive agreement to acquire EADS T&S on January 21, 2014.

EADS T&S, located in Irvine, California, is a leading provider of highly engineered automatic test systems (ATS), subsystems and instruments for the semi-conductor, consumer electronics, commercial aerospace and defense industries. EADS T&S provides fully customized testing systems and support services for these markets. It also designs and manufactures test equipment under the well-respected test instrument brands known as Racal and Talon.

EADS T&S was founded in 1950 as Racal Electronic Group and currently has about 210 employees

• Fourth quarter results set new records for sales, bookings, and backlog
• Fourth quarter diluted earnings per share up nearly 10%, to $0.34 over prior-year period
• 2013 sales grew 28% to $339.9 million and net income increased 25% to $27.3 million
• 2014 revenue expected to be in a range from $585 million to $640 million assuming a successful and timely close of the previously announced EADS T&S acquisition

East Aurora, NY | February 13, 2014– Astronics Corporation (NASDAQ: ATRO), a leading provider of advanced technologies for the global aerospace and defense industries today reported financial results for the fourth quarter and year ended December 31, 2013. All share quantities and per share data reported for 2013 and prior have been adjusted to reflect the impact of the twenty percent Class B stock distribution in October 2013.

Click here for full press release

EAST AURORA, NY | January 21, 2014 -– Astronics Corporation (NASDAQ: ATRO), a leading provider of advanced technologies for the global aerospace and defense industries, announced today that it has entered into a definitive agreement to acquire substantially all of the assets and liabilities of EADS North America’s Test and Services division (EADS T&S) for approximately $53 million in cash plus a net working capital adjustment. The agreement is expected to close in February, subject to normal closing requirements including Hart-Scott-Rodino approval. Upon closing, EADS T&S will be reported in Astronics’ Test Systems segment.

EADS T&S, located in Irvine, California, is a leading provider of highly engineered automatic test systems (ATS), subsystems and instruments for the semi-conductor, consumer electronics, commercial aerospace and defense industries. EADS T&S provides fully customized testing systems and support services for these markets. It also designs and manufactures test equipment under the well-respected test instrument brands known as Racal and Talon.

EADS T&S had 2013 sales of approximately $70 million. Sales for 2014 for the business are expected to be approximately $100 million.

Peter J. Gundermann, CEO of Astronics, commented, “EADS T&S has developed a strong presence in a diversified set of industries, which provides a broad range of market opportunities for growth. We also believe that the business possesses a skill set which is highly complementary to our own, and together we will field a stronger team than either entity would do on their own.”

EADS T&S was founded in 1950 as Racal Electronic Group and currently has about 210 employees.

Houlihan Lokey acted as the exclusive financial advisor to EADS North America, Inc.