NEW YORK (TheStreet) -- Shares of Astronics Corp. (ATRO) are higher by 4.48% to $58.58 after reporting that sales were up 90.6% to $141.0 for the 2014 first quarter, from $74.0 million for the same quarter last year.
The company, which supplies products to the aerospace and defense industries, said net income for the most recent quarter declined to $7.5 million from $8.6 million for the year ago quarter.
Diluted earnings per share were 40 cents versus 47 cents from the 2013 first quarter.
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TheStreet Ratings team rates ASTRONICS CORP as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate ASTRONICS CORP (ATRO) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, good cash flow from operations, solid stock price performance and increase in net income. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value."
Highlights from the analysis by TheStreet Ratings Team goes as follows: