Astronics Corporation (NASDAQ: ATRO), a leader in advanced, high performance lighting, electrical power and automated test systems for the global aerospace and defense industries, announced today that its wholly-owned subsidiary, Luminescent Systems Inc., has been chosen by Cessna Aircraft Company, a Textron Inc. (NYSE: TXT) company, to supply illuminated instrument panels for the recently announced Citation M2, Citation TEN and Corvalis TTX aircraft as well as exterior lighting for the Citation M2 and Citation TEN.
Peter J. Gundermann, President and CEO of Astronics commented, "Our innovation and technological capabilities inspire our customers’ confidence in Astronics and our advanced aircraft lighting solutions. We have a long history with Cessna as a supplier of cockpit and exterior lighting systems for their full line of aircraft from single engine pistons to the Citation Jets and believe that their selection of our solutions for these new aircraft is a testament of their continued belief in our leadership in aircraft lighting and for creating high quality solutions that complement their aircrafts’ unique qualities.”
For these aircraft, Astronics will provide a complete suite of instruments panels that are illuminated with light emitting diodes (LEDs) which provide increased reliability while reducing power consumption. The instrument panels will be part of the state of the art avionics and cockpit systems that incorporates the latest developments in human factors engineering, ergonomics and user experience to create environments that make flying simpler and more pleasurable.
To address Cessna’s exterior lighting requirements, Astronics will supply LED navigation, anti-collision, and beacon lights building on Astronics strong history of supplying Cessna with best in class high reliability exterior lighting solutions. Astronics LED exterior lighting products can also be found on the Citation Mustang and the CJ1/2/3/4 aircraft.ABOUT CESSNA AIRCRAFT COMPANY Cessna is the world’s leading general aviation company. Since its inception in 1927, Cessna has designed, produced and delivered more than 192,500 airplanes around the globe. This includes more than 6,100 Citation business jets, making it the largest fleet of business jets in the world. Today, Cessna has two principal lines of business: aircraft sales and aftermarket services. Aircraft sales include Citation business jets, Caravan single-engine utility turboprops, single-engine piston aircraft and lift solutions by CitationAir. Aftermarket services include parts, maintenance, inspection and repair services. In 2010, Cessna delivered 535 aircraft, including 179 Citation business jets, and reported revenues of $2.6 billion. More information about Cessna Aircraft Company is available at cessna.com. ABOUT ASTRONICS CORPORATION Astronics Corporation is a leader in advanced, high-performance lighting, electrical power and automated test systems for the global aerospace and defense industries. Astronics’ strategy is to develop and maintain positions of technical leadership in its chosen aerospace and defense markets, to leverage those positions to grow the amount of content and volume of product it sells to those markets and to selectively acquire businesses with similar technical capabilities that could benefit from our leadership position and strategic direction. Astronics Corporation, and its wholly-owned subsidiaries, Astronics Advanced Electronic Systems Corp., DME Corporation and Luminescent Systems Inc., have a reputation for high-quality designs, exceptional responsiveness, strong brand recognition and best-in-class manufacturing practices. The Company routinely posts news and other important information on its Web site at www.Astronics.com. For more information on Astronics and its products, visit its Web site at www.Astronics.com . Safe Harbor Statement This news release contains forward-looking statements as defined by the Securities Exchange Act of 1934. One can identify these forward-looking statements by the use of the words “expect,” “anticipate,” “plan,” “may,” “will,” “estimate” or other similar expressions. Because such statements apply to future events, they are subject to risks and uncertainties that could cause the actual results to differ materially from those contemplated by the statements. Important factors that could cause actual results to differ materially include the state of the aerospace and defense industries, the market acceptance of newly developed products, internal production capabilities, the timing of orders received, the status of customer certification processes, the demand for and market acceptance of new or existing aircraft which contain the Company’s products, customer preferences, and other factors which are described in filings by Astronics with the Securities and Exchange Commission. The Company assumes no obligation to update forward-looking information in this news release whether to reflect changed assumptions, the occurrence of unanticipated events or changes in future operating results, financial conditions or prospects, or otherwise.
Check Out Our Best Services for Investors
Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
Check Out Our Best Services for Investors
Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
Every recommendation goes through 3 layers of intense scrutinyquantitative, fundamental and technical analysisto maximize profit potential and minimize risk.
Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.