Business
Astronics Corporation Announces Preliminary Unaudited Revenue for Fourth Quarter 2023 and Initiates Revenue Guidance for 2024
Preliminary, unaudited fourth quarter revenue was $193 million to $195 million Full year 2023 preliminary unaudited revenue was approximately $688 million,
About this update from Astronics Corporation
[{"type":"text","content":"\n\nPreliminary, unaudited fourth quarter revenue was $193 million to $195 million\n\n\n\nFull year 2023 preliminary unaudited revenue was approximately $688 million, an increase of 29% over 2022\n\n\n\nInitial 2024 revenue guidance established at $760 million to $795 million\n\n\n\n EAST AURORA, N.Y.--(BUSINESS WIRE)--\nAstronics Corporation (Nasdaq: ATRO), a leading provider of advanced technologies for global aerospace, defense and other mission critical industries, announced its fourth quarter 2023 preliminary unaudited revenue was $193 million to $195 million. At the mid-point of the range, preliminary revenue was up 23% over the prior-year period and up 19% over the trailing third quarter. Full year preliminary unaudited revenue for 2023 was approximately $688 million. Preliminary bookings in the quarter were $185 million bringing orders for the full year to approximately $726 million.\n\n\nThe Company also provided preliminary revenue expectations for 2024 of $760 million to $795 million representing an increase of approximately 13% over 2023 at the mid-point of the range.\n\n\nPeter J. Gundermann, Chairman, President and CEO, commented, “We ended the year on a strong note with the second consecutive year of over 20% growth. Our supply chain continues to improve, our workforce is getting better and we are regaining our operating rhythm. We expect 2024 will be another year of solid growth driven by our opening backlog of approximately $595 million. We look forward to getting back to pre-pandemic sales levels and growing beyond as we continue to innovate with new products and solutions.”\n\n\nABOUT ASTRONICS CORPORATION\n\n\nAstronics Corporation (Nasdaq: ATRO) serves the world’s aerospace, defense, and other mission critical industries with proven, innovative technology solutions. Astronics works side-by-side with customers, integrating its array of power, connectivity, lighting, structures, interiors, and test technologies to solve complex challenges. For over 50 years, Astronics has delivered creative, customer-focused solutions with exceptional responsiveness. Today, global airframe manufacturers, airlines, militaries, completion centers and Fortune 500 companies rely on the collaborative spirit and innovation of Astronics. The Company’s strategy is to increase its value by developing technologies and capabilities that ...