secwatch.observer — SEC 8-K summary
======================================

Issuer:     ASTRONICS CORP (ATRO)
CIK:        0000008063
Form:       8-K
Filed at:   2022-11-15T23:59:59+00:00
Accession:  0000008063-22-000057
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 1.01, 2.03, 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Astronics Q3 net loss $14.9M, operating loss $14.3M; credit facility amended, 2023 sales guided $640-680M
--------------------------------------------------------------------------------

- Sales $131.4M (+18% YoY), but operating loss $14.3M vs $4.5M loss a year ago, including $4.6M atypical costs.
- Net loss $14.9M ($0.46/share); bookings $184.2M, backlog record $547.1M; aerospace backlog $464.3M.
- Credit facility extended to Nov 2023; leverage ratio waived; minimum EBITDA $15M (Dec 2022) and $25M (Jun 2023).
- Q4 2022 sales guidance $140-150M; 2023 sales guidance $640-680M, supported by record backlog.
- Test Systems down-selected by U.S. Army for major radio test contract; preliminarily $150-200M in future sales.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/8063/000000806322000057/0000008063-22-000057-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/8063/000000806322000057/atro-20221114.htm
  HTML page:      https://secwatch.observer/filing/0000008063-22-000057

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