secwatch.observer — SEC 8-K summary
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Issuer:     ASTRONICS CORP (ATRO)
CIK:        0000008063
Form:       8-K
Filed at:   2022-03-02T23:59:59+00:00
Accession:  0000008063-22-000005
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.03, 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/8063/000000806322000005/0000008063-22-000005-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/8063/000000806322000005/atro-20220301.htm
  HTML page:      https://secwatch.observer/filing/0000008063-22-000005

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