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Astronics Corporation Reports Fourth Quarter And Full Year 2012 Results

Stocks in this article: ATRO

Astronics Corporation (NASDAQ: ATRO) , a leading provider of advanced technologies for the global aerospace and defense industries, today reported financial results for the three and twelve months ended December 31, 2012. Results include Ballard Technology acquired November 30, 2011 and Max-Viz acquired July 31, 2012.

             
Three Months Ended Twelve Months Ended

Dec 31, 2012

   

Dec 31, 2011

 

% Change

Dec 31, 2012

Dec 31, 2011

 

% Change

   
Sales $ 67,420 $ 61,156 10.2% $

266,446

$

228,163

16.8%
Gross profit $ 17,551 $ 17,349 1.2% $

69,442

$

60,496

14.8%
Gross profit percentage 26.0% 28.4%

26.1%

26.5%

Impairment Loss - 2,500

-

2,500

SG&A $ 9,622 $ 7,326 31.3% $

36,817

$

27,175

35.5%
SG&A percent to sales 14.3% 12.0%

13.8%

11.9%

Income from Operations $ 7,929 $ 7,523 5.4% $

32,625

$

30,821

5.9%
Operating margin % 11.8% 12.3%

12.2%

13.5%

Net Income $ 5,655 $ 5,169 9.4% $

21,874

$

21,591

1.3%
Net Income % 8.4% 8.5%

8.2%

9.5%

 

Peter J. Gundermann, President and Chief Executive Officer, commented, “2012 was a great year for Astronics as we continued to grow both organically and through successful, growing acquisitions. We had record revenue and net income, and ended the year with a strong backlog to begin 2013.”

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