Business
AstroNova Announces Financial Results for the Third Quarter of Fiscal 2020
Board of Directors Declares Regular Quarterly Cash Dividend of $0.07 Per Share Third-Quarter Fiscal 2020 Summary Bookings of $32.6 million Revenue of $33.3
About this update from Astronova, Inc.
[{"type":"text","content":"\nBoard of Directors Declares Regular Quarterly Cash Dividend of $0.07 Per Share\n\n\nThird-Quarter Fiscal 2020 Summary\n\n\n\nBookings of $32.6 million\n\n\nRevenue of $33.3 million\n\n\nOperating income of $0.4 million\n\n\nEarnings per diluted share of $0.06\n\n\n WEST WARWICK, R.I.--(BUSINESS WIRE)--\nAstroNova, Inc. (NASDAQ: ALOT), a global leader in data visualization technologies, today announced financial results for the fiscal 2020 third quarter ended November 2, 2019.\n\n\nCEO Commentary\n\n\n“Our Test & Measurement segment faced continued headwinds in the third quarter related to the ongoing grounding of the 737 MAX,” said AstroNova President and CEO Greg Woods. “In Product Identification, similar to the second quarter, we experienced some softness primarily as a result of weaker demand from a few customers in Asia. In spite of these short-term challenges, we believe that the underlying fundamentals in both businesses remain strong. We continue to invest in product innovation, strengthen our global marketing organization, and enhance our Aerospace service capabilities to drive and support future growth.\n\n\n“During the quarter, we launched and showcased several new Product Identification solutions, including the QuickLabel® QL-850, the TrojanLabel® T3-OPX and the TrojanLabel® T2-L, which expand our addressable market, creating new opportunities in the areas of digitally printed labels and flexible packaging,” Woods said. “We’re also particularly excited about the new TrojanLabel® T5, all-in-one digital print and finish in-line labeling solution designed for professional printers and large brand owners.”\n\n\nBusiness Outlook\n\n\n“Our overall outlook remains positive, and we continue to expect modest revenue growth in fiscal 2020,” Woods said. “While the combination of industry headwinds and the investments we are making in future growth are likely to impact near-term results, we are confident in our long-term growth prospects and are well positioned to address favorable secular growth trends across our business.”\n\n\nOperating Segment Results\n\n\nProduct Identification segment revenue in the third quarter of fiscal 2020 was $21.7 million, consistent with the prior-year period. Segment operating income was $1.9 million, or 8.6% of revenue, versus $2.0 million, or 9.3% of revenue, in the prior year.\n\n\nTest & Meas...