Astronics Corp. announced unaudited consolidated financial results for third quarter and nine months ended October 3, 2009. For the quarter, the company reported sales of $48,586,000, income from operations of $3,918,000, income before tax of $3,618,000, net income of $2,496,000 or $0.23 per diluted share, capital expenditures of $427,000 against sales of $40,363,000, income from operations of $3,878,000, income before tax of $3,636,000, net income of $2,379,000 or $0.22 per diluted share, capital expenditures of $1,058,000 a year ago. Cash generated from operations was $15.6 million during the quarter compared with $1.8 million used in last year's third quarter. For the nine months, the company reported sales of $145,625,000, income from operations of $8,663,000, income before tax of $8,376,000, net income of $5,853,000 or $0.53 per diluted share, capital expenditures of $1,978,000 against sales of $129,341,000, income from operations of $15,978,000, income before tax of $15,351,000, net income of $10,142,000 or $0.95 per diluted share, capital expenditures of $3,188,000 a year ago. The company generated $25.1 million in cash from operations compared with $3.6 million in the 2008 period. The significant improvement in cash generated from operations during the 2009 periods was attributed to improved working capital management. For the full year the company tightened revenue guidance to $190 to $195 million. Capital expenditures are expected to be approximately $2.5 million to $3.0 million for 2009. Although encouraged by the improved bookings during this quarter, as company look toward 2010, currently do not expect any improvement in sales compared with this 2009 and could potentially see a slight decline.

Astronics Corp., Q3 2009 Earnings Call, Nov-05-2009

Astronics Corp. expected to Report Fiscal Year 2009 Results on February 8, 2010. This event was calculated by Capital IQ (Created on October 26, 2009).