EAST AURORA, N.Y. — (BUSINESS WIRE) — November 5, 2018 — Astronics Corporation (Nasdaq: ATRO), a leading supplier of advanced technologies and products to the global aerospace, defense, and semiconductor industries, today reported financial results for the three and nine months ended September 29, 2018. Results for the quarter and the first nine months of 2018 include the results of Telefonix PDT, which was acquired on December 1, 2017 and Custom Control Concepts (“CCC”), which was acquired on April 3, 2017. Earnings per share for all periods are adjusted for the 3 for 20 (15%) distribution of Class B Stock for shareholders of record on October 12, 2018.
| Three Months Ended | Nine Months Ended | |||||||||||||||
| ($ in thousands) |
September 29,
|
September 30,
|
%
|
September 29,
|
September 30,
|
%
|
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| Sales | $ | 212,674 | $ | 149,636 | 42.1% | $ | 600,339 | $ | 453,146 | 32.5% | ||||||
| Gross profit | $ | 46,320 | $ | 32,493 | 42.6% | $ | 133,024 | $ | 104,960 | 26.7% | ||||||
| Gross margin | 21.8 % | 21.7% | 22.2% | 23.2% | ||||||||||||
| SG&A | $ | 27,976 | $ | 22,099 | 26.6% | $ | 87,919 | $ | 65,573 | 34.1% | ||||||
| SG&A percent of sales | 13.2 % | 14.8% | 14.6% | 14.5% | ||||||||||||
| Income from Operations | $ | 18,344 | $ | 10,394 | 76.5% | $ | 45,105 | $ | 39,387 | 14.5% | ||||||
| Operating margin % | 8.6 % | 6.9% | 7.5% | 8.7% | ||||||||||||
| Net Income | $ | 16,999 | $ | 6,060 | 180.5% | $ | 34,318 | $ | 25,332 | 35.5% | ||||||
| Net Income % | 8.0 % | 4.0% | 5.7% | 5.6% | ||||||||||||
