Astronics Corporation (NASDAQ: ATRO), a leading provider of advanced technologies for the global aerospace and defense industries, today announced that its wholly-owned subsidiary, Astronics Advanced Electronic Systems Corp. (AES), has signed agreements with multiple airlines in Asia, Europe, North America and South America to supply their EmPOWER ® In-Seat Power systems. These agreements include line fit and retrofit installations on over 500 narrow body aircraft.
“EmPOWER ® systems have been installed on long haul aircraft for years, but passengers have begun to expect in-seat power on all flights, on all aircraft models, and in all classes of service,” commented Peter J. Gundermann, President and CEO of Astronics. “We recognize an industry trend toward installation of in-seat power on narrow body platforms and are capturing this emerging market. Our airline partners’ commitment to customer satisfaction lead to their selection of the EmPOWER ® In-Seat Power System as an easy solution to keep passengers productive and entertained during their flight.”
Mr. Gundermann further stated, “We currently cannot disclose the airlines with which we have signed agreements due to the highly competitive nature of the airline industry. Our airline customers prefer to manage the flow of information specific to their fleets very carefully. However, the list is comprised of a broad range of aircraft including the B737, A320, and regional aircraft from Bombardier and Embraer.”
The EmPOWER ® In-Seat Power Systems chosen include the latest generation designs which are capable of providing up to 200VA per passenger device delivered through Astronics latest innovative outlet unit which combines an 110VAC outlet plug with USB charging capability. In most cases, the system will be installed on all seats in the aircraft thus allowing every passenger access to a power outlet.For more than 15 years, Astronics has developed intelligent power management systems. The patented EmPOWER ® In-Seat Power System is currently in service with over 150 airline and OEM customers at more than 500,000 seat locations. ABOUT ASTRONICS CORPORATION Astronics Corporation is a leader in advanced, high-performance lighting, electrical power, avionics databus products 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., Ballard Technology, Inc., 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 website 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 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.
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