Astronics Corp (ATRO) Misses Q1 EPS by 26c

Astronics Corp (NASDAQ: ATRO) reported Q1 EPS of $0.11, $0.26 worse than the analyst estimate of $0.37. Revenue for the quarter came in at $179.06 million versus the consensus estimate of $182.24 million.

2018 Outlook

Consolidated sales in 2018 are forecasted to be in the range of $765 million to $815 million, with $650 million to $680 million expected from the Aerospace segment and $115 million to $135 million from the Test segment.

Consolidated backlog at March 31, 2018 was $398.6 million, up from $393.7 million. Approximately $356.1 million of backlog is expected to ship in 2018.

The effective tax rate for 2018 is expected to be in the range of 18% to 21%.

Expectations for capital equipment spending in 2018 are unchanged from a range of $24 million to $28 million.

E&D costs for 2018 continue to be expected in the range of $110 million to $115 million.

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

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