Business
AstroNova Reports Financial Results for the Third Quarter of Fiscal 2022
Continued Recovery of Commercial Air Travel Drives 35% YoY Increase in Test & Measurement Revenue Third-Quarter Fiscal 2022 Summary Bookings of $32.3
About this update from Astronova, Inc.
[{"type":"text","content":"\nContinued Recovery of Commercial Air Travel Drives 35% YoY Increase in Test & Measurement Revenue\n\nThird-Quarter Fiscal 2022 Summary\n\n\nBookings of $32.3 million, up 16% year-over-year\n\n\nRevenue of $28.9 million, up 3% year-over-year\n\n\nBacklog of $26.8 million, up 16% year-over-year\n\n\nGAAP operating income of $0.3 million\n\n\nGAAP net loss of $0.4 million, or $0.06 per share, which includes costs associated with the write-off of the Company’s legacy enterprise resource planning (ERP) system\n\n\nNon-GAAP net income of $0.1 million, or $0.01 per diluted share, excluding ERP write-off costs\n\n\nAdjusted EBITDA of $1.1 million excluding ERP write-off costs, or 3.8% of revenue\n\n\nCompany expects sequential and year-over-year top-line growth in the fourth quarter of FY 2022\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 2022 third quarter ended October 30, 2021.\n\nCEO Commentary\n\nGregory A. Woods, AstroNova’s President and Chief Executive Officer, stated, “Orders were strong again this quarter, as demand for our products continued to expand. Although sales were somewhat hampered by supply chain challenges affecting both segments of our business, total revenue nevertheless increased 3% year-over-year, as the ongoing recovery of the commercial aviation market helped drive double-digit growth in our Test & Measurement segment. In the Product Identification segment, in-person tradeshow activity continued to pick up in the quarter, as we demonstrated our latest printing and labeling products at major industry events including PACK EXPO in the U.S. and FACHPACK, the European trade fair for packaging, technology and processing.\n\n\nBusiness Outlook\n\n“Third-quarter bookings increased 16% to $32.3 million, highlighting strong demand trends heading into the final quarter of the year,” Woods continued. “Based on these trends and our expanding backlog, we believe we are well positioned for sequential and year-over-year growth in the fourth quarter of fiscal 2022.”\n\nQ3 FY 2022 Operating Segment Results\n\nProduct Identification segment revenue in the third quarter of fiscal 2022 was $21.9 million compared with $22.9 million in the same period of fiscal 2021. Segment operating income was $1.8...