Astronics Corporation Reports 2016 Third Quarter Financial Results

EAST AURORA, N.Y., Nov. 08, 2016 (GLOBE NEWSWIRE) -- Astronics Corporation (NASDAQ:ATRO), a leading supplier of advanced technologies and products to the global aerospace, defense, and semiconductor industries, today reported financial results for the three and nine months ended October 1, 2016.  Earnings per share for all periods are adjusted for the 3 for 20 (15%) distribution of Class B Stock for shareholders of record on October 11, 2016.

  Three Months Ended     Nine Months Ended
    October 1,
2016
  October 3,
2015
% Change     October 1,
2016
  October 3,
2015
% Change
            
            
Sales$ 155,099 $ 200,145  -22.5% $ 479,055 $ 534,939  -10.4%
Gross profit$ 38,663 $ 59,427  -34.9% $ 122,981 $ 149,041  -17.5%
Gross margin  24.9%  29.7%    25.7%  27.9% 
SG&A$ 21,138 $ 22,297  -5.2% $ 65,246 $ 66,213  -1.5%
SG&A percent of sales  13.6%  11.1%    13.6%  12.4% 
Income from Operations$ 17,525 $ 37,130  -52.8% $ 57,735 $  82,828     -30.3 %
Operating margin %     11.3 %     18.6 %         12.1 %     15.5 %  
Net Income $   12,074   $   24,694     -51.1 %   $   38,539   $   53,067     -27.4 %
Net Income %     7.8 %     12.3 %         8.0 %     9.9 %  

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