This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Astronics Corporation Reports Net Income Up 17.0% On 18.2% Increase In Sales For First Quarter 2012

Aerospace operating profit for the first quarter of 2012 was $11.9 million, or 19.2% of sales, compared with $9.3 million, or 18.6% of sales, in the same period last year. The increase in the 2012 first quarter margin reflects leverage gained from increased sales volume partially offset by higher E&D and increased SG&A expenses. The SG&A increase was due to the addition of Ballard’s SG&A as well as higher legal and compensation expenses.

Bookings for the Aerospace segment during the first quarter were $58.6 million, up 20.3% from $48.7 million in the first quarter of 2011, and up 8.5% from bookings of $54.0 million in the trailing fourth quarter of 2011. Backlog at the end of the first quarter was $94.5 million.

Test Systems Segment Review (refer to sales by market and segment data in accompanying tables)

Sales in the 2012 first quarter decreased to $3.1 million when compared with $4.9 million for the same period in 2011.

Test Systems operating loss for the first quarter of 2012 was $1.1 million compared with break even in the same period last year.

Test Systems bookings in the first quarter of $2.3 million were down when compared with $5.8 million in the first quarter of 2011, and down from the trailing 2012 fourth quarter, which had bookings of $2.5 million. Backlog was $7.5 million at the end of the first quarter.

Balance Sheet

Cash at the end of the 2012 first quarter declined by $2.7 million to $8.2 million compared with December 31, 2011, primarily as a result of the early extinguishment in January, 2012 of a $5.0 million, 6% subordinated note and increased investment in net working capital assets.

Capital expenditures during the first quarter of 2012 were $1.7 million compared with $0.8 million in 2011.

3 of 5

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,979.13 +59.54 0.35%
S&P 500 1,986.51 +4.91 0.25%
NASDAQ 4,526.4820 -1.0320 -0.02%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs