Astronics Corporation reports 2007 full year net income of $15.4 million

Astronics Corporation reported 2007 full year sales increased 42.9% to $158.2 million from $110.8 million in 2006. Fourth quarter sales increased by 25.4% to $36.3 million from $28.9 million in the fourth quarter of 2006. Net income for 2007 was $15.4 million compared with net income of $5.7 million in 2006. For the fourth quarter of 2007, net income was $2.1 million compared with $0.8 million for the same period the prior year.

Outlook

Backlog at December 31, 2007 was $92.4 million of which approximately $80 million is scheduled for shipment in 2008. Astronics expects 2008 revenue will rise to $170 million.

Email Post to a Friend Email Post to a Friend

Leave a Reply