Business
AstroNova Reports Strong Financial Results for the Second Quarter of Fiscal 2022
Commercial Air Travel’s Continued Recovery and the Product Identification Segment’s Solid Performance Drive Sequential and Year-Over-Year Growth
About this update from Astronova, Inc.
[{"type":"text","content":"\nCommercial Air Travel’s Continued Recovery and the Product Identification Segment’s Solid Performance Drive Sequential and Year-Over-Year Growth \n\nSecond-Quarter Fiscal 2022 Summary \n\n\nBookings of $30.6 million, up 18% year-over-year\n\n\nRevenue of $29.8 million, up 8% year-over-year\n\n\nBacklog of $24.3 million\n\n\nGAAP operating income of $3.5 million\n\n\nNon-GAAP operating income of $1.3 million\n\n\nGAAP net income of $7.0 million, or $0.96 per diluted share, including $0.83 per diluted share in CARES Act benefits \n\n\nNon-GAAP net income of $978,000, or $0.13 per diluted share, compared with break-even results in the prior year’s second quarter\n\n\nAdjusted EBITDA of $9.2 million, or 30.8% of revenue\n\n\nExcluding CARES Act benefits, Adjusted EBITDA of $2.6 million or 8.7% or revenue\n\n\nCompany anticipates sequential and year-over-year top-line growth in the second half of fiscal 2022\n\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 fiscal 2022 second quarter ended July 31, 2021.\n\nCEO Commentary \n\n“We reported year-over-year and sequential revenue growth in the second quarter in both the Test & Measurement and Product Identification segments, as we capitalized on an improved demand picture across the business,” said Gregory A. Woods, President and Chief Executive Officer of AstroNova. “In the Test & Measurement segment, revenue from hardware, supplies, and parts and repairs all increased as air passenger traffic continued to rebound. We also saw solid contributions across the Product Identification product line, with another strong quarter from the T3-OPX wide-format durable direct-to-package printing system. We performed particularly well given the ongoing global supply chain constraints and continuing COVID-19 headwinds.”\n\nBusiness Outlook \n\n“We expect to report year-over-year and sequential top-line growth for the second half of fiscal 2022,” continued Woods. “The aerospace market is recovering a bit more quickly than we had anticipated, and we expect continued improved demand in the Product Identification segment. At the same time, we recognize the uncertainty caused by supply chain constraints and the continuing pandemic. Looking further ahead, we believe that we are wel...