ATRO - Astronics GAAP EPS of -$0.10 revenue of $116.2M; issues Q2 and reaffirms FY22 guidance

Astronics press release (NASDAQ:ATRO): Q1 GAAP EPS of -$0.10. Revenue of $116.2M (+9.7% Y/Y). Consolidated adjusted EBITDA loss was $0.4 million, or 0.3% of consolidated sales, compared with an adjusted EBITDA loss of $0.5 million, or 0.5% of consolidated sales, in the prior-year period. Bookings totaled $175.6 million, up 46% over prior-year period; achieved book-to-bill ratio of 1.51 Backlog increased 14% from year end 2021 to a record $475.1 million; Aerospace backlog reached a record $394.0 million. Mr. Gundermann commented, “We are maintaining our previous revenue guidance of $550 million to $600 million for the year vs. consensus of $547.89M. We expect revenue in the second quarter will be between $125 million and $135 million vs. consensus of $122.86M, with similar rates of improvement in the third and fourth quarters." Planned capital expenditures for 2022 are expected to be approximately $15 million to $20 million.

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Astronics GAAP EPS of -$0.10, revenue of $116.2M; issues Q2 and reaffirms FY22 guidance