secwatch.observer — SEC 8-K summary
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Issuer:     ASTRONICS CORP (ATRO)
CIK:        0000008063
Form:       8-K
Filed at:   2023-08-03T23:59:59+00:00
Accession:  0000008063-23-000044
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Astronics Q2 sales up 35% to $174.5M; net loss $12.0M; record backlog $611.1M
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- Sales $174.5M (+35% YoY); Aerospace segment sales up 45% to $158.4M, driven by commercial transport +62%.
- Net loss $12.0M ($0.37/diluted share) vs $11.0M loss a year ago; includes $8.1M tax expense on R&D capitalization.
- Adjusted EBITDA $15.8M (9.1% of sales) vs $2.1M (1.6%) last year; operating income $2.4M vs loss of $8.4M.
- Record backlog $611.1M; bookings $207.1M for 1.19 book-to-bill; $502M expected to ship in 12 months.
- Test Systems segment operating loss $6.1M on lower defense revenue and $2.2M litigation costs; restructuring targets $4-5M annual savings.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/8063/000000806323000044/0000008063-23-000044-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/8063/000000806323000044/atro-20230803.htm
  HTML page:      https://secwatch.observer/filing/0000008063-23-000044

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