Astronics Corporation Reports 2016 Third Quarter Financial Results

*All share quantities and per-share data have been restated to reflect the impact of the fifteen percent Class B stock distribution to shareholders of record on October 11, 2016.

 
ASTRONICS CORPORATION
CONSOLIDATED BALANCE SHEET DATA
($ in thousands)
 (unaudited)
10/1/2016
  12/31/2015
ASSETS  
Cash and cash equivalents$13,278 $18,561 
Accounts receivable and uncompleted contracts 118,888  95,277 
Inventories 120,691  115,467 
Other current assets 13,100  20,662 
Property, plant and equipment, net 123,754  124,742 
Other long-term assets 13,035  10,889 
Intangible assets, net 101,037  108,276 
Goodwill 115,645  115,369 
  Total assets $   619,428    $   609,243 
   
LIABILITIES AND SHAREHOLDERS' EQUITY  
Current maturities of long term debt$2,686 $2,579 
Accounts payable and accrued expenses 62,729  62,896 
Customer advances and deferred revenue 27,805  38,757 
Long-term debt 161,305  167,210 
Other liabilities 35,532  37,576 
Shareholders' equity 329,371  300,225 
Total liabilities and shareholders' equity $   619,428    $   609,243 


ASTRONICS CORPORATION
Segment Data
(Unaudited, $ in thousands)
  Three Months Ended Nine Months Ended
    10/1/2016   10/3/2015   10/1/2016   10/3/2015
Sales         
Aerospace$ 125,179 $ 138,728   $406,356  $413,250 
Less Inter-segment     -       -       (367 )     -  
Total Aerospace     125,179       138,728       405,989       413,250  
                 
Test Systems     29,920       61,417       73,066       121,744  
Less Inter-segment     -       -       -       (55 )
Total Test Systems     29,920       61,417       73,066       121,689  
Total sales     155,099       200,145       479,055       534,939  
                 
Operating profit and margins                
Aerospace     17,557       23,055       61,099       66,728  
      14.0 %     16.6 %     15.0 %     16.1 %
Test Systems     3,240       16,980       6,524       24,618  
      10.8 %     27.6 %     8.9 %     20.2 %
Total operating profit     20,797       40,035       67,623       91,346  
                 
                 
Interest expense     1,103       1,243       3,246       3,600  
Corporate expenses and other     3,272       2,905       9,888       8,518  
Income before taxes $   16,422   $   35,887   $   54,489   $   79,228  

« Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8  Next Page »



Review Article Be the first to review this article



© 2021 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us
ShareCG™ is a trademark of Internet Business Systems, Inc.

Report a Bug Report Abuse Make a Suggestion About Privacy Policy Contact Us User Agreement Advertise