secwatch.observer — SEC 8-K summary
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Issuer:     ASTRONICS CORP (ATRO)
CIK:        0000008063
Form:       8-K
Filed at:   2022-11-08T23:59:59+00:00
Accession:  0000008063-22-000049
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Astronics Q3 prelim revenue $131M, below expectations; net loss widens to ~$15M
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- Preliminary Q3 revenue $131M, up 18% YoY but short of expectations due to supply chain and customer reschedules.
- Preliminary bookings $184M (+20% YoY) drove record backlog of $547M; aerospace orders $166M (record), test $18M.
- Preliminary net loss ~$15M vs loss of $7.2M a year ago; reflects $4M legal/customer accommodation costs.
- Guides Q4 revenue $140-150M and 2023 revenue $640-680M; implies FY22 ~$521M (+17% YoY).
- Credit facility amended Oct 21; maximum borrowing temporarily raised to $180M; covenant waivers obtained.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/8063/000000806322000049/0000008063-22-000049-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/8063/000000806322000049/atro-20221108.htm
  HTML page:      https://secwatch.observer/filing/0000008063-22-000049

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer