Business
AstroNova Announces Fiscal Fourth-Quarter and Full-Year 2023 Financial Results
Company to Host Conference Call at 9:00 a.m. ET Today Fiscal Fourth-Quarter 2023 Summary Bookings of $36.3 million Revenue of $39.9 million Operating income
About this update from Astronova, Inc.
[{"type":"text","content":"\nCompany to Host Conference Call at 9:00 a.m. ET Today\n\nFiscal Fourth-Quarter 2023 Summary\n\n\nBookings of $36.3 million\n\n\nRevenue of $39.9 million\n\n\nOperating income of $2.1 million\n\n\nNet income of $1.4 million, or $0.18 per diluted share\n\n\nAdjusted EBITDA of $3.9 million, or 9.7% of revenue\n\n\nFiscal Full-Year 2023 Summary\n\n\nBookings of $138.6 million\n\n\nBacklog of $35.8 million at fiscal year-end\n\n\nRevenue of $142.5 million\n\n\nOperating income of $5.4 million\n\n\nNet income of $2.7 million, or $0.36 per diluted share\n\n\nAdjusted EBITDA of $10.3 million, or 7.3% of revenue\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 fourth quarter and full year ended January 31, 2023.\n\nCEO Commentary\n\n“We finished fiscal 2023 with a strong fourth quarter, delivering solid revenue and earnings growth,” stated Greg Woods, President and Chief Executive Officer of AstroNova. “Our performance highlights the outstanding work of our team members around the globe in navigating a year of extraordinary macroeconomic challenges and positioning AstroNova for continued success as we advance through fiscal 2024 and beyond.\n\n“Revenue increased 34% year-over-year in the fourth quarter, fueled by gains in both segments. In Test & Measurement, 61% top-line growth was driven by our Aerospace product line, which benefited from a combination of favorable pricing adjustments, greater cost efficiencies and the ongoing production ramp of commercial, business and military aircraft. With the recovery in commercial air travel, revenue from supplies and repair services also grew nicely. While the cost for certain components remains elevated, the supply chain constraints and pricing effects we were experiencing earlier in the year moderated in the fourth quarter,” Woods stated.\n\n\n“Our Product Identification segment generated 26% revenue growth in the quarter, attributable to the acquisition of Astro Machine in the third quarter of fiscal 2023,” Woods stated. “The business is performing in line with our expectations as we advance through the integration process. During the fourth quarter, we launched the production release of the QL‑E100, our full-color label printer designed for small businesses and producti...