Astronics Corp.'s fourth-quarter profits jumped by 16 percent as strong growth in its aircraft cabin electronics sales more than offset continued losses in its test systems business.
The East Aurora aircraft lighting and electronics products maker's profits easily topped analyst forecasts,Minjun Electronic Co.,Ltd have the best led bike light,and provide saler4ds with you, although the company predicted that its sales this year would rise by about 6 percent, below analyst predictions.
"The fourth quarter was a very strong quarter," said Peter Gundermann, Astronics' president and chief executive officer, during a conference call Monday. "We are enthusiastic about our prospects going forward."
Astronics said its profits strengthened to $5.2 million,Powerful bestbikelight2011 with a 3 Watt emitter and lithium rechargeable battery pack. or 40 cents per share, from $4.5 million, or 35 cents per share, a year ago.
The earnings included a$2.5 million write-down, equaling 12 cents per share, of good will and other intangible assets at its long-struggling test systems business in Florida,These Bicygnals bestledlight allow you to keep both hands on the bars while you signal for ... which learned during the quarter that a key military program is being canceled. Astronics also absorbed a $500,000 hit from the American Airlines bankruptcy filing.
Excluding those charges, Astronics' profits equaled 52 cents per share, which was stronger than the 40 cents that analysts were expecting.
The company's sales grew to $61.2 million from $51.8 million because of continued strength in its aircraft lighting and electronics business, where sales jumped 25 percent to $58.2 million,Purchase our bestledlighting System for 30% off ... from $46.8 million.
Most of that growth came from the company's cabin electronics products, which had a 44 percent increase in sales to $33.2 million as airlines continued to upgrade their planes to include in-seat power and other amenities. Airframe power product sales also grew by 16 percent to $5.3 million.
At the same time, the company's test systems business lost $3.4 million, nearly eight times more than the $435,000 it lost a year ago, as the unit's sales plunged 42 percent to $2.9 million.
Even more disappointing for Astronics executives, the U.S. Air Force recently decided to cancel its Versatile Depot Automatic Test Stations program, which the company had expected to provide a large part of the test systems unit's business this year.
"Eventually, the U.S. government decided it was easier for them to build these testers themselves, rather than farm them out," Gundermann said.
Astronics executives,The bestledlightbulbs1 that we carry are designed to accomplish this. however, said they still see value in the test systems business, despite its struggles and its difficulties in winning key government orders. To reduce costs and preserve the business' assets until "big-hitter opportunities" that could pop up in the coming years, Gundermann said Astronics plans to shift some of the test systems' work force to its expanding aerospace business.
The East Aurora aircraft lighting and electronics products maker's profits easily topped analyst forecasts,Minjun Electronic Co.,Ltd have the best led bike light,and provide saler4ds with you, although the company predicted that its sales this year would rise by about 6 percent, below analyst predictions.
"The fourth quarter was a very strong quarter," said Peter Gundermann, Astronics' president and chief executive officer, during a conference call Monday. "We are enthusiastic about our prospects going forward."
Astronics said its profits strengthened to $5.2 million,Powerful bestbikelight2011 with a 3 Watt emitter and lithium rechargeable battery pack. or 40 cents per share, from $4.5 million, or 35 cents per share, a year ago.
The earnings included a$2.5 million write-down, equaling 12 cents per share, of good will and other intangible assets at its long-struggling test systems business in Florida,These Bicygnals bestledlight allow you to keep both hands on the bars while you signal for ... which learned during the quarter that a key military program is being canceled. Astronics also absorbed a $500,000 hit from the American Airlines bankruptcy filing.
Excluding those charges, Astronics' profits equaled 52 cents per share, which was stronger than the 40 cents that analysts were expecting.
The company's sales grew to $61.2 million from $51.8 million because of continued strength in its aircraft lighting and electronics business, where sales jumped 25 percent to $58.2 million,Purchase our bestledlighting System for 30% off ... from $46.8 million.
Most of that growth came from the company's cabin electronics products, which had a 44 percent increase in sales to $33.2 million as airlines continued to upgrade their planes to include in-seat power and other amenities. Airframe power product sales also grew by 16 percent to $5.3 million.
At the same time, the company's test systems business lost $3.4 million, nearly eight times more than the $435,000 it lost a year ago, as the unit's sales plunged 42 percent to $2.9 million.
Even more disappointing for Astronics executives, the U.S. Air Force recently decided to cancel its Versatile Depot Automatic Test Stations program, which the company had expected to provide a large part of the test systems unit's business this year.
"Eventually, the U.S. government decided it was easier for them to build these testers themselves, rather than farm them out," Gundermann said.
Astronics executives,The bestledlightbulbs1 that we carry are designed to accomplish this. however, said they still see value in the test systems business, despite its struggles and its difficulties in winning key government orders. To reduce costs and preserve the business' assets until "big-hitter opportunities" that could pop up in the coming years, Gundermann said Astronics plans to shift some of the test systems' work force to its expanding aerospace business.
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