Astronics Q4 net income $1.6M; 2022 revenue guidance $550-600M; credit facility amended

ASTRONICS CORP

Q4 2021 sales $116.1M (+1.1% YoY); net income $1.6M ($0.05 diluted EPS) vs net loss $20M prior year.
Record backlog $415.7M at year-end; 2022 revenue guidance $550-600M with 40% H1 and 60% H2.
Credit facility amended: revolver reduced from $375M to $225M, maturity extended to May 2023; max leverage 4.75x through Q2 2022 then 3.75x.
Received $10.7M earnout from semiconductor sale; expects $11.2M additional in Q1 2022; AMJP grant $14.7M partially recognized.
Accrued $8.4M for adverse UK IP ruling vs Lufthansa Technik; damages trial expected in 2023.

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