ATRO - Astronics sees Q4 revenue of $116M higher than analysts estimates

Astronics (NASDAQ:ATRO) trades 4% higher premarket after it estimates Q4 revenue of $116M, out of which ~$99M was from the Aerospace segment and $17M was from the Test segment; FY sales are seen at ~$445M. Analysts consensus estimates for Q4 revenue stands at $115.04M (+0.2% Y/Y) while FY revenue is seen at $443.91M (-11.7% Y/Y). Prelim bookings stood at $177M (book-to-bill of 1.5), which included $30M from the company's Test segment; bookings for the Aerospace segment were ~$147M, nearly double the $74M in bookings realized in 4Q20. Total bookings for 2021 were ~$577M (+35% Y/Y increase); aerospace segment bookings were ~$509M (+53% Y/Y). Backlog at year end was an estimated $416M, a new record for the company. As of Dec.31, the company had ~$163M in long term debt, down $20M from Oct. 2, 2021; cash and equivalents at year end were $30M, relatively unchanged from Q3. The company expects to receive an additional $35M

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Astronics sees Q4 revenue of $116M, higher than analysts estimates