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