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Astronics announces Q4 bookings & updated 2018 revenue guidance; Shares +6% AH

Published 01/11/2018, 04:51 PM
© Reuters.  Astronics announces Q4 bookings & updated 2018 revenue guidance; Shares +6% AH
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  • Astronics (NASDAQ:ATRO) announced that bookings for the Q417 were ~$229M.
  • The Company’s Aerospace segment contributed $171M in orders, which included $17M in orders related to the Dec. 1, 2017 acquisition of Telefonix PDT. The Test segment had $58M in bookings, which included $56M for semiconductor test equipment.
  • Astronics expects to record non-cash impairment charge of ~$16M in Q4.
  • The Company updated its 2018 consolidated revenue guidance to $745M to $815M vs. a consensus of $748M.
  • CEO Peter J. Gundermann; “We are disappointed with the goodwill situation at Armstrong, but we believe the combination of that business with Telefonix will perform well in the future. At the same time, we believe we have very strong momentum as we enter 2018. Our strong bookings in the second half of 2017 sets the stage for a very exciting year.”
  • Press Release
  • Now read: A Dream Year For Boeing (NYSE:BA)


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