Panasonic

Panasonic Avionics is marking the two-year anniversary of the launch of Arc, its 3D in-flight moving map platform, by unveiling a range of new and upcoming features.

Since its debut two years ago at Aircraft Interiors Expo 2019, Arc has experienced one of the highest adoption rates of any Panasonic Avionics digital service, with confirmed orders with 17 airlines globally on over 300 aircraft.

Andrew Mohr, Vice President of Digital Solutions at Panasonic Avionics, said: “Airline adoption of Arc has been beyond our initial expectations. Our airline customers have responded positively to the new value streams we’re bringing to the in-flight map experience. These include sophisticated design, innovative new features, and the cross-leverage with our other in-flight entertainment and communications services, including new monetization opportunities.”

“With Arc, we are enabling airlines to utilize in-flight maps as a primary tool for customer engagement and service. Its rapid adoption highlights the importance these new approaches represent to our customers.”

Panasonic Avionics has also launched the first new round of Arc features, including Arc for Young Explorers and OneMedia integration.

Arc for Young Explorers is the first in a series of features targeted to young travelers. It brings them back in time and enables them to fly and explore the world as a Jurassic-era flying dinosaur. Points of interest are replaced by oversized dinosaurs, revealing trivia, fun facts, and animations about the giant beasts that roamed Earth millions of years ago. Bright, cheerful colors and imaginations of prehistoric sounds and movement fill the screen.

Arc’s integration with OneMedia enables it to act as a new medium for monetization through its alignment with Panasonic Avionics’ in-flight advertising platform. It creates new advertising inventory across the wide range of Arc’s map views, and tie-ins to cross-IFE advertising campaigns.
In addition to these new releases, Panasonic Avionics is in the process of rolling out the new Arc Studio map designer’s tool. Arc Studio gives airlines direct control over a wide range of map features and content. It enables them to modify point of interest data and layers, map script configurations to add or modify media and promotional campaigns, along with the ability to deploy changes directly to their aircraft.

Mohr adds: “Arc Studio gives in-flight maps the flexibility and longevity expected out of today’s digital solutions. It puts Arc at the service of the airline to employ as a promotional tool, enabling them to create unique designs and configurations that can be deployed on a per flight or route basis. Airlines can easily leverage Arc to execute their overall IFEC value strategies.”
“We have designed Arc as a flexible, creative and evolutionary platform, and are developing further enhancements which we will be unveiling in the months ahead.”

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Astronics

Astronics Corporation Reports 2021 First Quarter Financial Results.

• Sales for the quarter were $105.9 million, slightly better than guidance
• Net loss was $11.9 million
• Adjusted EBITDA* loss was $0.5 million
• Bookings for the quarter continued sequential improvement to $120.0 million
• Backlog at the end of the quarter was $297.5 million

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Lattitude Aero

Latitude Aero  announced they have received approval and designation by the European Aviation Safety Agency (“EASA”) as an EASA Part 145 Repair Station (EASA.145.6969). As a FAA and EASA-approved maintenance organization, Latitude Aero can now provide its customers a dual-release and return to service components that are for European, as well as domestic, aircraft. “We are excited to add dual-release capabilities to our existing suite of seating services and expand our global reach beyond the United States and into Europe,” says President & CEO Kelvin Boyette. “This coincides perfectly with our planned expansion into Europe later in 2021.” The dual-release designation process is extremely challenging to achieve, and this level of capability allows us to better support our current and future international customers.

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SITA

SITA celebrates the 25^th anniversary of its border management business, a journey that started in 1996 in readiness for the 2000 Olympic Games in Sydney. A quarter of a century on, SITA’s border solutions are used by over 60 governments to seamlessly process two billion border crossings every year.

SITA’s extensive knowledge and experience in serving the air transport industry includes delivering solutions and services for airlines, airports and on aircraft. This has enabled the organization to diversify its portfolio over the last few decades into border management and security for governments worldwide with significant success.

Jeremy Springall, VP of SITA AT BORDERS, said: “We’re immensely proud to celebrate this 25-year milestone for our borders business. We started our journey in 1996 in Australia and since then our border solutions have processed over seven billion transactions. Our business is focused on the safe movement of people. Whether it is major events such as the Olympic Games in Sydney, the FIFA World Cup in South Africa or a family going on holiday, we have been there to make it easier and more secure.”

It is this expertise, as well as leveraging SITA’s wider air transport industry experience, that has enabled SITA to support governments with the latest challenges following the COVID-19 pandemic. SITA’s Health Protect solution was developed rapidly this year to help countries safely manage their borders. 

Jeremy Springall said: “We managed to bring Health Protect to market at great speed because of our substantial experience and knowledge of the industry’s challenges. We leveraged our existing and proven products to deliver a flexible solution that incorporates the new requirements for health with existing passenger processing systems while maintaining safety and security.”

Major events were key early on

In 1996 SITA pioneered an electronic travel authorization (ETA) system for the 2000 Sydney Olympics to give the authorities visibility into the millions of visitors planning to cross the border in advance and reduce bottlenecks at immigration checkpoints. The system successfully reduced immigration clearance to a matter of seconds. SITA supplemented the system with an interactive Advance Passenger Processing (APP) solution, which analyzes passengers in real-time at check-in to keep illegitimate travelers from boarding their flight and entering the country.

SITA went on to deliver these solutions for the 2004 Bahrain Grand Prix Formula 1 racing and at many other major events, such as the FIFA World Cups in South Africa in 2010 and Brazil in 2014.

The evolution of the portfolio over the years

The benefits experienced of using SITA technology to move large volumes of passengers safely and seamlessly during major world events have now been extended to the everyday management of borders. Through the 2000s and 2010s, many governments in the Middle East and Asia Pacific began adopting SITA APP, often along with other SITA solutions, to improve border security and make entry easier for legitimate travelers.

In the early 2000s, with security high on the agenda after 9/11, the Canadian government was first to engage SITA to enable them to assess potential threats to their country. SITA created a service to exchange passenger data, and the subsequent roll-out of this API PNR Gateway solution to other governments and airlines for passenger risk assessment purposes, has made it the most widely used data gateway service by governments and airlines. Today 600 airlines are connected to SITA’s ‘single window’ data gateway.

With the focus on security, the introduction of electronic passports and the challenge of increasing passenger throughput in the 2000s, SITA expanded its portfolio further. Using their early experience of delivering ETA systems, SITA designed an e-Visa solution for governments to ensure that visitors had the necessary electronic permission to travel. SITA also introduced more secure, user-friendly automated gates and kiosks using biometrics for identity management – including the US, Jamaica and Italy in the 2010s – as an alternative to traditional, manual border controls. Over the last few years, SITA has introduced various self-service biometric options to border control, including mobile apps, that automate identity verification.

Over the years, SITA has fine-tuned their intelligence and targeting capabilities and are helping governments detect suspicious activity and take the targeted steps to safeguard their borders.

Now with a complete end-to-end border management portfolio spanning the entire passenger journey, SITA has extended its aviation expertise to land and sea borders.

Jeremy Springall adds, “While our focus over the past 25 years has been on air borders, our experience and knowledge can and has been applied to land and sea. It is another step towards delivering a completely seamless and secure experience whether you travel by plane, train or automobile.”

“On behalf of the company, I would like to sincerely thank our employees all around the world, past and present, for their commitment and hard work, which has been critical to our longevity and success. As well, we are hugely grateful for the continued support and confidence of our members, customers, and partners.”

Employees mark 25 years with SITA Olympics

SITA’s 4500+ employees are marking the 25^th anniversary by running, walking, cycling, or swimming as part of an Olympic-themed physical well-being challenge to collectively reach 50,000 kilometers while virtually traveling the globe and passing through some of the countries using SITA’s border technology. Should employees fulfil the challenge, the business will make a donation to the Gavi COVAX Advance Market Commitment (AMC), which gives over 90 lower-income economies access to COVID-19 vaccines.

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Other News

• Interested in the discovery of the area of circles? We guarantee you have not seen the history of how Pi was “discovered”! The Discovery That Transformed Pi
• Bored? Try Scroll & Click – Trassel
• The Atlantic featured a robot story that is full of robot pix – cool! Photos: Robots Are Everywhere – The Atlantic
• If you only want to read about aviation – skip this link too. Grady Hillhouse an engineer has made a video about the recent ship obstruction in the Suez Canal. His video is one of the best technical/common sense stories we have seen. If you like understanding, you will like this one – What Really Happened at the Suez Canal? – YouTube

SMARTSKY

SmartSky Networks announced that it has closed on more than $32 million in additional equity and debt funding as it prepares for the launch of its next-generation aviation Wi-Fi connectivity service later this year.

“In a display of confidence in the future of SmartSky’s groundbreaking technology and services, we received new funds from our institutional investors,” said SmartSky CEO David Helfgott.

SmartSky’s office-grade inflight Wi-Fi service for business and commercial aviation uses the pioneering company’s uniquely scalable, single-beam-per-aircraft approach, which is backed by a substantial patent portfolio and years of flight testing.  Building on this transformative capability, the company is enabling advanced new applications through Skytelligence®, its digital innovation platform, to improve safety and efficiency while providing the industry with new ancillary revenue sources.

 

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ASTRONICS

Astronics Corporation Reports 2020 Fourth Quarter and Full Year Financial Results
* Fourth quarter sales of $114.8 million; full year sales of
$502.6 million
* Fourth quarter pre-tax loss of $7.5 million and net loss of $20.0 million due to the non-cash reserve of $14.1 million against deferred tax assets
* Fourth quarter Adjusted EBITDA* was $2.9 million
* Fourth quarter bookings were $116.0 million, demonstrating sequential improvement
Backlog at end of the year was $283.4 million

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BOEING

Boeing Statement on United Airlines Flight 328:

“Boeing is actively monitoring recent events related to United Airlines Flight 328. While the NTSB investigation is ongoing, we recommended suspending operations of the 69 in-service and 59 in-storage 777s powered by Pratt & Whitney 4000-112 engines until the FAA identifies the appropriate inspection protocol. “Boeing supports the decision yesterday by the Japan Civil Aviation Bureau, and the FAA’s action today to suspend operations of 777 aircraft powered by Pratt & Whitney 4000-112 engines. We are working with these regulators as they take actions while these planes are on the ground and further inspections are conducted by Pratt & Whitney. “Updates will be provided as more information becomes available.”

Also from Boeing:

The Boeing Company board of directors announced that directors Arthur D. Collins Jr. and Susan C. Schwab will retire from the board when their terms expire and will not stand for reelection at the company’s Annual Meeting of Shareholders. The board also named chairs to its six board committees, to take effect following the yearly voting for the election of directors at Boeing’s annual shareholder meeting, which is scheduled to occur on April 20. “We are grateful for Art and Susan’s distinguished service on our board,” said Boeing Chairman Larry Kellner. “Boeing has benefited enormously from their committed and dedicated service.” Collins joined the board in 2007 and most recently chaired the Compensation Committee and served as a member of the Governance, Organization and Nominating Committee. Schwab joined the board in 2010 and most recently served as a member of the Compensation Committee, and the Governance, Organization and Nominating Committee. “It has been a privilege to serve alongside Art and Susan,” said Boeing President and CEO David Calhoun. “They made meaningful and lasting contributions to our company, and to the aerospace industry, which is foundational to the global economy.”
“In line with our thorough succession planning process, the board will continue to take steps to identify a pipeline of diverse candidates with appropriate expertise who bring qualified perspectives,” Kellner added.

In addition, the following directors were named committee chairs, effective upon their reelection to the board at the company’s Annual Meeting of Shareholders:

• Admiral Edmund Giambastiani Jr. will continue to chair the Aerospace Safety Committee
• Akhil Johri was named chair of the Audit Committee
• Lynn Good was named chair of the Compensation Committee
• Robert Bradway was named chair of the Finance Committee
• Ronald Williams was named chair of the Governance, Organization and Nominating Committee
• Adm. John Richardson will continue to chair the Special Programs Committee.

 

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OTHER NEWS

• There are issues in aircraft manufacturing and you might want to read: Opinion: Will Boeing Become The Next McDonnell Douglas? | Aviation Week Network Be sure to read the reader comments …
• AVIATION CYBERSECURITY – FAA Should Fully Implement Key Practices to Strengthen Its Oversight of Avionics Risks. Check it out here.
• Do you read daily AXIOS Navigate? You might like it. Axios Navigate
• If you don’t think aircraft noise is a concern, you might want to read this: How Noise Pollution Hurts the Heart – The Atlantic
• George Denis Patrick Carlin (You know, George Carlin, the comedian) once said something very technical that is quite true: “Electricity is really just organized lightning.” (Editor’s Note: We are still trying to understand why we thought you needed to read this?)

East Aurora, NY | March 30, 2020– Astronics Corporation, a leading provider of advanced technologies for global aerospace, defense, and other mission critical industries, today announced actions the Company has taken to address the impact the coronavirus, or COVID-19, is having on the aerospace industry and its business.

Peter Gundermann, Astronics Chairman and CEO, noted, “This is an unprecedented situation in our industry and we have to take measurable actions. First and foremost is the safety of our team members. We have implemented enhanced cleaning protocols, increased spacing of workstations, work-from-home wherever possible, minimization of visitors, meetings and travel as well as emphasizing the importance of personal hygiene and responsibility.”

He continued “The aerospace industry has been significantly impacted and airlines are dealing with a precipitous drop in passenger traffic. Accordingly, we are taking swift actions to address the reduction in demand we are likely to see in the aftermarket, which is approximately 25% of our business. These actions will be difficult for our Company and our employees, but they are necessary in the face of the COVID-19 threat.”

Operational Status and Actions Being Implemented

• As an essential business serving the defense industry, the majority of Astronics operations remain functional except its Test Systems engineering center in India, which is closed by government mandate.
• The Company has had four other locations closed temporarily for deep cleaning, but all have reopened as of today.
• Astronics drew down $150 million from its existing line of credit to augment cash on hand, which was
  $31.9 million at December 31, 2019. The Company has also engaged in preliminary discussions with its agent bank around potential modifications to its loan agreement that may be required as a result of the COVID-19 impacts to the aerospace industry.
• The Company is minimizing its planned capital expenditures, which are now expected to be less than
  $10 million for all of 2020, down from previous expectations of $22 million to $25 million.
• In the area of employment costs, Astronics has frozen hiring, suspended all wage adjustments and bonus programs, and is adjusting its work force to align with demand.
• The Company expects these initiatives will reduce its overhead and labor costs this year by approximately
  $55 to $60 million beginning in the second quarter.

Mr. Gundermann concluded, “These actions, combined with others we have taken in recent weeks, position us well to survive the COVID-19 market disruption that we anticipate. The earlier actions include the restructuring of our systems certification and antenna businesses, the launch of Avenir for the VVIP inflight entertainment/connectivity market, and the suspension of our share buyback program and acquisition activity. Collectively, these are significant steps that position the Company as well as possible for the immediate future, realizing that the future is not clear. We will continue to monitor the situation closely and make necessary course corrections as appropriate. We appreciate the collective efforts of our entire team in this trying time.”

Given the fluid nature of the situation and ongoing efforts, Astronics plans to provide further updates as more information is available.

(Today’s image is of the MTM Robotics facility in Mukilteo, Washington – recently purchased by Airbus.)

ASTRONICS

Astronics Corporation announced that Robert S. Keane has joined its Board of Directors, effective December 9, 2019. Mr. Keane is Chairman and CEO of Cimpress (Nasdaq: CMPR), which provides mass customization services through its group of companies and is strategically focused on investing in and building entrepreneurial, customer-centric businesses.
Peter J. Gundermann, Chairman, President and CEO of Astronics, commented, “Robert brings an entrepreneurial spirit, significant public company experience and deep business acumen, which are valuable attributes for our evolving Board of Directors. We believe he will be a solid ambassador for shareholders. We welcome Robert’s contributions as we advance our strategy for profitable growth to build shareholder value.”

Mr. Keane founded Cimpress in 1995 and has grown the group to $2.75 billion in revenue with a market capitalization of $3.3 billion. Prior to Cimpress, he was employed for seven years by Astronics. He began his career in business management consulting. Mr. Keane is a graduate of Harvard College, where he earned his B.A. in economics, and INSEAD (France), where he earned his M.B.A. Mr. Keane is a son of the late Kevin Keane, former Chairman of Astronics.

The addition of Mr. Keane brings the Astronics Board to nine directors, eight of whom are independent.

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SITA

SITA is installing its Scan&Fly ( Scan&Fly | SITA ) self-service bag drop for LATAM Airlines Group at 18 airports in five countries in the Americas as part of its work to transform its airport experience. The first eight kiosks are up and running at Brasilia International Airport and the remaining 97 units will be gradually implemented at other airports over the coming months. The technology means passengers will be able to check in their bags in under 40 seconds.

The majority of the 105 bag-drop units will be deployed in Brazil with the other units being installed in other airports in the region. LATAM is Latin America’s leading airline group, flying around 72 million passengers annually. As passenger numbers increase, airports are having to become more efficient and the smart use of technology is the only way to make that happen. Many airports are faced with capacity constraints, which in turn can lead to long queues. For airports that don’t have either the resources or the space to expand, SITA Scan&Fly can be installed onto existing check-in desks and conveyor belts offering up to 60% increase in terminal capacity, a 40% reduction in operational costs and an improved passenger experience.

SITA is the leading provider of airport technology in Latin America, covering all areas, including passenger processing, airport operations, baggage, border management and aircraft communications. The combination of all these technologies drives efficiencies for airports, airlines, government agencies, ground handlers, and, most importantly, passengers.

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AIRBUS

The Air France–KLM Group has decided to place a firm order for 10 additional widebody A350-900s, which will take its total order for the type to 38 aircraft. By acquiring the industry’s most efficient and technologically advanced widebody aircraft, the airline will benefit from a significant reduction in fuel burn and CO2 emissions. The A350s are intended to be operated by Air France. Airbus has acquired industrial automation company, Air France-KLM currently operates a fleet of 159 Airbus aircraft. The A350 XWB features the latest aerodynamic design, a carbon fiber fuselage and wings, plus new fuel-efficient Rolls-Royce engines. Together, these features translate into unrivaled levels of operational efficiency with a 25 per cent reduction in fuel burn and emissions. The A350 XWB’s Airspace by Airbus cabin is the quietest of any twin-aisle and offers passengers and crews the most modern in-flight products for the most comfortable flying experience. By the end of November, the A350 XWB Family had received 959 firm orders from 51 customers worldwide, making it one of the most successful widebody aircraft ever.

Airbus has acquired industrial automation company, MTM Robotics, for an undisclosed sum – (see today’s rectangle). The move deepens Airbus’ commitment to expanding advanced robotics capabilities within its manufacturing processes. The MTM business will retain its current leadership and 40-person staff, as well as its facility in Mukilteo, Washington, near Seattle. “We are pleased and excited to become a part of the Airbus family and look forward to further integrating our products and approaches into the Airbus industrialization chain,” said MTM founder, Mike Woogerd.

The acquisition is the latest chapter in a trusted, ten-year-plus relationship between the companies, with multiple MTM light automated robotics systems currently in use at Airbus manufacturing facilities. While MTM will operate as a wholly owned subsidiary of Airbus Americas, Inc., headquartered in Herndon, Virginia, it will continue to serve other customers in the aerospace industry. Since 2003, MTM has deployed more than 40 aerospace manufacturing systems comprised of machines, tools, machine software, enterprise software and support throughout the United States, Europe, the Middle East and Asia. The acquisition marks the latest step for Airbus in its industrialization roadmap, aimed at leveraging the time- and cost-saving benefits associated with using robotics in the manufacture and assembly of its commercial aircraft.
“The competitiveness of tomorrow will be determined by both designing the best aircraft and by building the most efficient manufacturing system, in parallel,“ said Michael Schoellhorn, Airbus Chief Operating Officer.“ Automation & robotics are central to our industrial strategy. We are very happy to welcome MTM Robotics as a family member and take a step forward on this exciting endeavor together.”

“MTM perfectly fits Airbus’ ambition for engineering and innovative manufacturing solutions while maintaining agility,” explained Patrick Vigié, Head of Industrial Technologies at Airbus. “Airbus and MTM Robotics each believe that tomorrow’s automation in aircraft manufacturing can and must be lighter, more portable and less capital intensive,” explained Vigié. “By joining our efforts and skills, we are well positioned to establish industry wide standards for the factory of tomorrow, “he said.

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BOEING

JUST IN: Boeing announced on 12/16/19 that it is temporarily halting the assembly lines in Renton, Washington from January, with no timeline defined for a restart. Good news for the 12,000-strong Renton workforce: Boeing will preserve their jobs by keeping some on 737 work and redeploying the rest to other facilities in the region. (Editor’s Note: At this time, Boeing has not stated when the manufacturing line of the 737 MAX will restart. This may be dependent on FAA approval.)

Boeing Statement: Safely returning the 737 MAX to service is our top priority. We know that the process of approving the 737 MAX’s return to service, and of determining appropriate training requirements, must be extraordinarily thorough and robust, to ensure that our regulators, customers, and the flying public have confidence in the 737 MAX updates. As we have previously said, the FAA and global regulatory authorities determine the timeline for certification and return to service. We remain fully committed to supporting this process. It is our duty to ensure that every requirement is fulfilled, and every question from our regulators answered. Throughout the grounding of the 737 MAX, Boeing has continued to build new airplanes and there are now approximately 400 airplanes in storage. We have previously stated that we would continually evaluate our production plans should the MAX grounding continue longer than we expected. As a result of this ongoing evaluation, we have decided to prioritize the delivery of stored aircraft and temporarily suspend production on the 737 program beginning next month. We believe this decision is least disruptive to maintaining long-term production system and supply chain health. This decision is driven by a number of factors, including the extension of certification into 2020, the uncertainty about the timing and conditions of return to service and global training approvals, and the importance of ensuring that we can prioritize the delivery of stored aircraft. We will continue to assess our progress towards return to service milestones and make determinations about resuming production and deliveries accordingly. During this time, it is our plan that affected employees will continue 737-related work, or be temporarily assigned to other teams in Puget Sound. As we have throughout the 737 MAX grounding, we will keep our customers, employees, and supply chain top of mind as we continue to assess appropriate actions. This will include efforts to sustain the gains in production system and supply chain quality and health made over the last many months. We will provide financial information regarding the production suspension in connection with our 4Q19 earnings release in late January.

On Another Note: Boeing delivered 24 aircraft in November vs 79 in Nov 2018, and has now delivered 345 in 2019. Boeing President and Chief Executive Officer Dennis Muilenburg reports that the board of directors today declared a regular quarterly dividend of two dollars and five and one-half cents ($2.055) per share. The dividend is payable March 6, 2020, to shareholders of record as of February 14, 2020.

New Boeing Media Relations Director – (12) Michael Friedman | LinkedIn

 

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OTHER NEWS

• Whether you know it or not, times for technology development are changing and Ms. Sarayu Srinivasan is well aware of them. WIRED notes: “Sarayu Srinivasan is a venture capitalist, operating executive, and founder. Srinivasan is currently a White House Presidential Innovation Fellow detailed to the National Institute of Standards and Technology, where she is a senior adviser and private sector/venture capital expert working on the Cross-Agency Priority Goal Lab-to-Market.” Her opinion article in WIRED is one of the scary ones. Correct, but scary. She writes about industry and government co-working, and while she amplifies the US need for national and government teaming, her message is probably worldwide. She notes: “We can no longer wait for serendipitous ingenuity to flow downstream. There is no time for the fortuitous experiments of Darpa and Rand to organically develop into the commercial internet decades later.” I guess we never realized the extent of government funding of technology development because her message about Apple blew us away. See what you think – Industry Must Team up With Government to Keep America on Top | WIRED
• No doubt, you know that runway numbering systems use the world magnetic field as a reference. They use numbers from 1 to 36 as compasses point the runway direction to the nearest 10 degrees. Guess what, the earth’s magnetic field is moving fast (2.5 degrees in the last 22 years). It gets worse – the poles reverse about every 500,000 years, and the present switch is some 280,000 years late! Earth’s Magnetic North Pole Is Hightailing It Toward Siberia The folks at Interesting Engineering just ruined my day!

• Sales for the quarter were $177.0 million
• Consolidated orders for the quarter were $176.6 million
• Backlog at the end of the quarter was $379.4 million
• Initiates 2020 sales guidance in the range of $770 million to $820 million
• Announces restructuring plan for antenna business

East Aurora, NY | November 5, 2019–Astronics Corporation (Nasdaq: ATRO), a leading supplier of advanced technologies and products to the global aerospace, defense and other mission critical industries, today reported financial results for the three and nine months ended
September 28, 2019. Financial results include the divestiture of the Test Systems’ semiconductor business on February 13, 2019.

Peter J. Gundermann, President and Chief Executive Officer, commented, “As expected, third quarter revenue was light, due in part to the continued grounding of the 737 MAX and the resulting capacity challenge affecting the global airline industry. Beyond this, we faced some headwinds that impacted our bottom line significantly. The headwinds included continued losses from the three struggling businesses discussed in previous quarters, higher tariff costs, a non-cash loss on the sale of the airfield lighting product line, and an increased reserve for a legal proceeding in Europe. In total, the detrimental impact of these issues on the quarter’s results was $15.4 million.”

He added, “We are implementing a number of strategic initiatives to alleviate several headwinds and to set up for a successful 2020. We are consolidating operations, rearranging supply chains and pushing development programs to completion. We expect our actions will begin to show positively in the first quarter, and become even more evident as the year progresses.”

For comparability purposes, in addition to reporting consolidated and segment results of operations on a basis consistent with U.S. generally accepted accounting principles (“GAAP”), this press release also contains certain financial information regarding consolidated sales, operating income and net income, as well as Test Systems segment sales and operating profit, adjusted to remove the sales and direct expenses of the divested semiconductor business from all periods presented. Management believes these non-GAAP measures are useful to investors in understanding the performance of the ongoing business. The reconciliation of GAAP measures to non-GAAP measures is contained in the section labeled “Reconciliation to Non-GAAP Performance Measures”.

click here to see the full report

Provides engineering scale, broader range of solutions and strong market position in expanding mass transit opportunity

East Aurora, NY | October 4, 2019–Astronics Corporation (Nasdaq: ATRO), a leading provider of advanced technologies for the global aerospace, defense, and other mission critical industries, announced today that it has acquired the primary operating subsidiaries from mass transit and defense market test solution provider, Diagnosys Test Systems Limited (Diagnosys). Diagnosys is a developer and manufacturer of comprehensive automated test equipment (ATE) providing test, support, and repair of high value electronics, electro-mechanical, pneumatic and printed circuit boards focused on the global mass transit and defense markets.

Astronics has acquired 100% of the equity of the three primary operating subsidiaries of Diagnosys, which are Diagnosys Holdings, Inc., Diagnosys Ferndown Limited and Diagnosys Electronics (I) Private Limited for $7 million in cash. The terms of the acquisition allow for a potential earn-out of up to an additional $13 million over the next three years based on achievement of new order levels of over $70 million during that period.

East Aurora, NY | September 13, 2019– Astronics Corporation (Nasdaq: ATRO), a leading provider of advanced technologies for global aerospace, defense, and other mission critical industries, announced that it recently executed an agreement with Collins Aerospace’s to provide its Ku-band tail-mounted satellite communications (SATCOM) antenna technology for the Collins Aerospace KuSAT-2000 solution. Astronics AeroSat, a wholly owned subsidiary of Astronics Corporation, will supply the technology for this system.

The PPS is a new, high-current power system for experimental and light sport aircraft.

East Aurora, NY | July 24, 2019–Astronics Corporation (Nasdaq: ATRO), a leading provider of advanced technologies for global aerospace, defense, and other mission critical industries, announced the release of the new Vertical Power Primary Power System (PPS) for use on aircraft flying with an airworthiness certificate in the experimental and light-sport categories.

The PPS offers an entirely new approach to the master, starter, and charging circuit for experimental and light-sport aircraft. It combines the functions of multiple high-current, electro-mechanical components into a single solid-state device that installs in minutes with plug-and-play simplicity. The PPS improves system reliability, saves space, and eliminates the need for the builder to research and design a homemade solution. For light-sport aircraft manufacturers, the PPS will improve customer satisfaction and lower costs through reduced installation time, weight savings, and increased reliability. The PPS is suitable for both new and retrofit installations.
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Facility opening celebrated with a ribbon cutting ceremony and will serve as the new operational base for Astronics CSC

Waukegan, IL | July 19, 2019–Astronics Corporation (Nasdaq: ATRO), a leading provider of advanced technologies for global aerospace, defense, and other mission critical industries, announced today that its wholly owned subsidiary, Astronics Connectivity Systems and Certifications (CSC), has moved its operations to a new office and manufacturing facility in Waukegan, Illinois.

The new facility enables the expansion of manufacturing capacity and certification services. The facility officially opened on July 18, 2019 with a ribbon cutting ceremony attended by Astronics senior executives along with representatives from the City of Waukegan.

“We are very excited to move into this beautiful new space. The combination of office space and manufacturing capability will help us meet increasing demand now and in the future,” said Michael Kuehn, President of Astronics CSC. “Astronics CSC now has the ability to develop, produce and certify products all within one location, which enables a faster, more efficient production process to satisfy customer product needs. We were also honored to have Sam Cunningham, the mayor of the City of Waukegan, join us to cut the ribbon during our ceremony, officially opening this wonderful facility.”

The ME1000 family of Mini PCI Express interfaces delivers the most avionics I/O in the smallest form factor for the embedded aerospace market

East Aurora, NY | June 10, 2019–Astronics Corporation, a leading provider of advanced technologies for global aerospace, defense, and other mission critical industries, announced the release of the new ME1000 family of mPCIe avionics interface cards for embedded aerospace applications. The ME1000 provides the highest amount of 1553 I/O in the compact mPCIe form-factor and is the only line to offer a concurrent RS-422/485 serial interface.

The ME1000 is a new mPCIe card designed and built by Astronics Ballard Technology, a wholly owned subsidiary of Astronics Corporation. These rugged cards interface with MIL-STD-1553 databuses and enable host devices, such as small form factor mission computers, to reliably communicate with and monitor avionics equipment.

East Aurora, NY | June 11, 2019–Astronics Corporation, a leading provider of advanced technologies for global aerospace, defense, and other mission critical industries, announced today with great sorrow that Kevin T. Keane, a member of its Board of Directors for nearly 50 years and Board Chairman for 45 years, passed away on June 10, 2019 in Buffalo, NY.

East Aurora, NY | February 14, 2019–Astronics Corporation (Nasdaq:ATRO), a leading provider of advanced technologies for the global aerospace, defense, and semiconductor industries, announced today that it has closed the previously announced sale of the intellectual property and certain assets associated with its semiconductor test product line to Advantest Corporation (TSE: 6857).

The terms of the transaction were renegotiated due to a change in business conditions related to the product line. The new terms include an upfront payment of $100 million in cash, plus a potential earn-out payment of up to $35 million based on certain performance milestones over the next 4 years. This compares with the previously announced $185 million purchase price, plus an earn-out payment of up to $30 million based on certain performance milestones. The renegotiated sales agreement does not include a manufacturing service contract as previously announced.

Peter J. Gundermann, President and CEO of Astronics, commented, “We have strong confidence in Advantest’s ability to further the adoption of these solutions across the semiconductor industry and expect that the team and competencies we have developed will achieve new highs under their ownership. We will continue to develop and advance our aerospace & defense test solutions while employing our multi-system test software capabilities in a variety of applications.”

East Aurora, NY | December 19, 2018–Astronics Corporation (Nasdaq: ATRO), a leading supplier of advanced technologies and products to the global aerospace, defense, and semiconductor industries, today announced the appointment of Mark Moran to its Board of Directors, effective December 14, 2018. The addition of Mr. Moran as an independent director brings the Astronics Board to nine directors, eight of whom are independent. He will serve on the Compensation Committee and the Nominating and Corporate Governance Committee.

Kevin T. Keane, Chairman of the Board, commented, “Mark’s leadership and extensive world-class aerospace experience enhances our already strong board. His operational insights, developed across global and regional airlines, will add valuable perspectives, especially as the Company enhances its position in the connected aircraft market.”

Mark Moran, age 62, brings significant aerospace engineering and operations experience spanning nearly 40 years. He spent 17 years with Continental Airlines prior to its acquisition by United. During his tenure, which included eight years as the head of Operations, Continental grew to the fifth largest airline with 2,600 daily flights to over 260 airports. He retired from his position as Chief Operating Officer with Continental in 2012. Prior to that, Mr. Moran served ten years with USAir/Piedmont, and before that, five years with Boeing Corporation (NYSE: BA). He is a graduate of Marquette University, where he earned a Bachelor of Science degree in Engineering.

East Aurora, NY | November 14, 2018– – Astronics Corporation (Nasdaq: ATRO), a leading supplier of advanced technologies and products to the global aerospace, defense, and semiconductor industries, today announced it has entered into an agreement for the sale of the intellectual property and certain assets associated with its semiconductor test business to Advantest Corporation (TSE: 6857) for $185 million in cash. The sale additionally includes a $30 million earn-out opportunity based on achieving certain levels of revenue in 2019.

Astronics will enter into an agreement with Advantest to continue to manufacture the semiconductor test solutions for Advantest upon closing of the transaction.

Peter J. Gundermann, President and CEO of Astronics, commented, “We acquired this product line in January of 2014 and it has since generated about $365 million in revenue through the third quarter this year. We have invested heavily in the technology and believe it has an exciting future. We came to the conclusion that this future will be better realized with a company that is focused on the semiconductor space. We will continue to be involved as a manufacturing partner with Advantest, which will provide continuity for our customers and employees. We look forward to continued success in the market.”

Approximately 45 personnel from Astronics, primarily in engineering, sales, and program management, will be offered positions with Advantest. The remainder of the Astronics workforce will be unaffected by the transaction. This transaction is subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act and other customary closing conditions. It is expected to close by the end of the year.

Astronics’ will continue to operate its aerospace and defense test business and report in two segments.