Astronics Corp (ATRO) Misses Q2 EPS by 17c

Astronics Corp (NASDAQ: ATRO) reported Q2 EPS of $0.26, $0.17 worse than the analyst estimate of $0.43. Revenue for the quarter came in at $151.11 million versus the consensus estimate of $163.33 million.

Outlook

Consolidated sales in 2017 are forecasted to be in the range of $625 million to $645 million (*** consensus is $655 million), which represents a decline from the previous guidance. Approximately $535 million to $550 million of revenue is expected from the Aerospace segment. Expected revenue for the Test Systems segment was tightened to a range of $90 million to $95 million.

Consolidated backlog at July 1, 2017 was $265.6 million, of which approximately $204.6 million is expected to ship in 2017.

The effective tax rate for 2017 is expected to be in the range of 28% to 31%.

Capital equipment spending in 2017 is expected to be in the range of $21 million to $25 million.

E&D costs are expected to be in the range of $96 million to $99 million including CCC.

For earnings history and earnings-related data on Astronics Corp (ATRO) click here.

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