AstroNova reports profit dip, sales increase in 3Q

ASTRONOVA Inc. reported a profit drop in the third quarter to $1.3 million, or 18 cents per diluted share, compared with $1.6 million, or 20 cents per diluted share, during the year-ago quarter.  / COURTESY ASTRONOVA
ASTRONOVA Inc. reported a profit drop in the third quarter to $1.3 million, or 18 cents per diluted share, compared with $1.6 million, or 20 cents per diluted share, during the year-ago quarter. / COURTESY ASTRONOVA

WEST WARWICK – AstroNova Inc. reported a drop in profit in the third quarter to $1.3 million, or 18 cents per diluted share, compared with $1.6 million, or 20 cents per diluted share, during the year-ago quarter.

AstroNova, which changed its name from Astro-Med in September, said it had approximately $500,000 in transition charges associated with the RITEC acquisition during the third quarter. The integration of RITEC’s ruggedized printer product line remains on schedule to be completed by the year’s end, according to AstroNova, which makes technology for the aerospace, specialty printing, and test and measurement markets.

Revenue, in comparison, grew 7 percent, to $24.8 million in the third quarter that ended Oct. 31, compared with $23.1 million during third quarter 2014.

Gregory A. Woods, the company’s president and CEO, said the company reported its 13th consecutive quarter of year-over-year top-line growth with double-digit percentage increases in orders and backlog.

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He said domestic sales increased 8 percent for the quarter, while international sales climbed more than 4 percent. He said the strong dollar tempered international sales, lowering that segment by approximately $700,000.

“Demand in our QuickLabel Systems business drove record results for that segment, as sales of labels, inks and other consumables increased 27 percent from the prior year’s third quarter,” Woods said in a statement. “In response, we have recently added a third shift at our consumables plant in West Warwick, marking the first time in the company’s 46-year history that we have operated one of our facilities on an around-the-clock basis.”
“Our recent expansion in regions such as Southeast Asia has helped to build new relationships for our aerospace, product identification, and test and measurement products. We are excited about the many new opportunities for our businesses,” Woods said.
Quarter highlights also include a 16.3 percent year-over-year increase in sales for the QuickLabel Systems segment, to $17.7 million, but an 11.1 percent drop in sales for the test and measurement segment, to $7 million. AstroNova said the drop in test and measurement reflected a shift in delivery timing requirements for certain aircraft manufacturers to later quarters for its ruggedized printer product line.
“Demand for our data visualization products continues to be strong, boosting our orders and backlog. From both a financial and an operational perspective we are well positioned in fiscal 2016 and beyond,” Woods said.

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