Astronics Q1 sales up 35% to $156.5M; net loss widens to $4.4M

ASTRONICS CORP

2023-Q1 EPS reported -$0.14 revenue$156,538,000

Net loss $4.4M ($0.14 per diluted share) vs loss $3.1M ($0.10) in prior year.
Adjusted EBITDA $6.1M (3.9% of sales) vs $0.9M; record backlog $578.5M.
Aerospace segment sales $135.6M (+34%); bookings $150.1M (book-to-bill 1.11:1).
Q2 revenue guidance $165M-$175M; FY 2023 guidance maintained at $640M-$680M.
Test Systems restructuring to yield $4M-$5M annual savings starting Q3.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

ASTRONICS CORP reported the three months ended April 1, 2023 results: revenue $156,538, net income Net loss $4,415, EPS $0.14 per diluted share. Guidance reaffirmed.

Period: the three months ended April 1, 2023
Revenue: $156,538
Net income: Net loss $4,415
EPS: $0.14 per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Corporation Reports 2023 First Quarter Financial Results May 9, 2023 Page 2 First Quarter Results Three Months Ended ($ in thousands) April 1, 2023 April 2, 2022 % Change Sales $ 156,538 $ 116,176 34.7 % Loss from Operations $ (2,370) $ (4,167) 43.1 % Operating Margin % (1.5) % (3.6) % Net Gain on Sale of Business $ (3,427) $ (11,284) Net Loss $ (4,415) $ (3,101)

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Source: SEC EDGAR

accession 0000008063-23-000020

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