August 7, 2012
Astronics Corporation reports net income up 14.2% in second quarter 2012
Astronics Corporations reported that sales in the second quarter of 2012 were $65.0m, up $9.5m, or 17.2%, from the prior year second quarter sales of $55.5m. Aerospace sales, which represented 96% of total second quarter sales, increased 20.2% over the prior year period to $62.4m. Test Systems sales decreased to $2.6m for the second quarter 2012 compared with $3.5m in last year’s second quarter. Net income in the second quarter of 2012 was $5.2m compared with net income of $4.5m in the same period of last year. Year-to-date net income in 2012 was $11.3m compared with net income of $9.8m in the same period of last year. Earnings per share for the second quarter and year-to-date periods of 2011 have been restated to reflect the impact of the one-for-ten Class B stock distribution to shareholders of record on August 16, 2011.