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

Astronics Corporation (NASDAQ: ATRO), a leader in advanced, high-performance lighting, electrical power, avionics databus products and automated test systems for the global aerospace and defense industries, today reported financial results for the three months ended March 31, 2012.
     
Three Months Ended

Mar 31, 2012
     

Apr 2, 2011
     

% Change
 
Sales $ 65,138 $ 55,128 18.2 %
Gross Profit $ 18,120 $ 14,506 24.9 %
Gross margin 27.8 % 26.3 %
SG&A $ 8,855 $ 6,345 39.6 %
SG&A percent to sales 13.6 % 11.5 %
Income from Operations $ 9,265 $ 8,161 13.5 %
Operating margin % 14.2 % 14.8 %
Net Income $ 6,095 $ 5,209 17.0 %
Net Income % 9.4 % 9.4 %
 

Peter J. Gundermann, President and Chief Executive Officer, commented, “The first quarter was a strong start to fiscal 2012. We set a quarterly sales record for the sixth consecutive quarter, and profitability remained solid. We had bookings during the quarter of $60.8 million, which is confirmation that demand for our products remains high.”

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