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Astronics Corporation Reports Net Income Up 43% On 13% Increase In Sales For Third Quarter 2011

Astronics Corporation (NASDAQ: ATRO), a leader in advanced, high-performance lighting, electrical power and automated test systems for the global aerospace and defense industries, today reported financial results for the three and nine months ended October 1, 2011.
   

 

Three Months Ended
    Nine months Ended  
Oct 1,     Oct 2,     %     Oct 1,     Oct 2,       %
2011     2010     Change     2011     2010       Change  
 
Sales $ 56,404 $ 49,906 13 % $ 167,007 $ 143,931 16 %
Gross profit $ 14,255 $ 12,893 11 % $ 43,147 $ 35,124 23 %
Gross margin 25 % 26 % 26 % 24 %
SG&A $ 6,360 $ 5,679 12 % $ 19,849 $ 17,183 16 %
SG&A percent to sales 11 % 11 % 12 % 12 %
Income from Operations $ 7,895 $ 7,214 9 % $ 23,298 $ 17,941 30 %
Operating margin % 14 % 15 % 14 % 13 %
Net Income $ 6,665 $ 4,647 43 % $ 16,422 $ 10,477 57 %
Net Income % 12 % 9 % 10 % 7 %

Peter J. Gundermann, President and Chief Executive Officer, commented, “We had another solid quarter with record quarterly sales of $56 million and record net income equal to 12% of sales. We also had record quarterly bookings of $64.5 million as we continue to see strong demand in most of our markets.”

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