Business
AstroNova Announces Fiscal First-Quarter 2024 Financial Results
Company to Host Conference Call at 9:00 a.m. ET Today Fiscal First-Quarter 2024 Summary (Comparisons with Q1 FY 2023) Bookings of $38.4 million, up 18.2%
About this update from Astronova, Inc.
[{"type":"text","content":"\nCompany to Host Conference Call at 9:00 a.m. ET Today\n\n\nFiscal First-Quarter 2024 Summary (Comparisons with Q1 FY 2023)\n\n\n\nBookings of $38.4 million, up 18.2%\n\n\n\nRevenue of $35.4 million, up 14.2%\n\n\n\nOperating income of $1.5 million, up 91.2%\n\n\n\nNet income of $0.8 million, up 99.5%\n\n\n\nEarnings per diluted share of $0.11, up 83.3%\n\n\n\nAdjusted EBITDA of $3.1 million, up 59.9%\n\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 first quarter ended April 29, 2023.\n\n\nCEO Commentary\n\n\n“Our strong first-quarter results reflected our solid performance integrating the Astro Machine acquisition, maintaining cost discipline and capitalizing on the expanding recovery of the commercial aviation market,” stated Greg Woods, AstroNova’s President and Chief Executive Officer. “The hard work of our teams around the globe helped to deliver an 18% increase in orders, a 14% increase in revenue and a 91% increase in operating profit. These results were driven by the contribution of Astro Machine in our Product Identification (Product ID) segment and the momentum of the commercial aerospace products in our Test & Measurement (T&M) segment.\n\n\n“In the Product ID segment, we expect that revenue from the retrofitted printers in the field that were sidelined last year by a supplier-related ink quality issue will increase over the coming quarters, as more units are returned to full production. Last month marked the launch of AstroNova’s first eCommerce site, and we kicked off the 2023 trade show season with a great response at two large shows in Germany: interpack in Düsseldorf and FESPA Global Print Expo in Munich. Our eCommerce site features some of our latest products, including those demonstrated at interpack and FESPA, and lead generation from these activities has been very strong. We have several exciting new products in the pipeline for this year, with our next new printer scheduled to launch in just a few weeks.\n\n\n\n\n“In our T&M segment, the continued strong growth in air travel and the increasing number of aircraft in service, continue to bode well for the hardware, supplies and service areas of our aerospace product lines. As we move through the year, we remain focused on executing on th...