• Achieved record quarterly sales of $200.1 million and record quarterly net income of $24.7 million
• Record diluted earnings per share was $0.94 for the quarter
• 2015 sales guidance tightened to $690 million to $705 million
• Initial 2016 sales guidance established at $690 million to $750 million

East Aurora, NY | November 10, 2015– Astronics Corporation (NASDAQ: ATRO), a leading supplier of products to the global aerospace, defense, and semiconductor industries, today reported financial results for the third quarter and nine months ended October 3, 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, “The third quarter was very strong for Astronics Corporation with new records set for sales and earnings. Sales crossed the $200 million level for the first time, and net income approached $25 million. Both our Aerospace and Test Systems segments turned in very strong performances. We are excited about the strength of the business, and look forward to a solid close to 2015 while maintaining positive momentum going into 2016.”

  • First-quarter net income was $0.6 billion with earnings per share of $0.86 which includes the previously announced $0.38 per share reduction from revised twin-aisle commercial airplane production rates and lower price escalation forecasts
  • Revenue rose 3 percent to $16.5 billion on higher commercial airplane deliveries and higher volume in defense
  • Operating cash flow was $0.2 billion
  • Backlog at $339 billion — nearly five times current annual revenues
  • 2009 earnings outlook reduced to reflect changes in commercial market; outlook for Integrated Defense Systems is reaffirmed on solid execution

Read the details at Boeing.com