FALSE130 Commerce WayEast AuroraNew York000000806300000080632023-07-172023-07-17
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 17, 2023
ASTRONICS CORPORATION
(Exact name of registrant as specified in its charter)
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| New York |
0-7087 |
16-0959303 |
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(Commission File Number) |
(I.R.S. Employer Identification No.) |
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130 Commerce Way
East Aurora, New York
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14052 |
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(Address of principal executive offices) |
(Zip Code)
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Registrant's telephone number, including area code: (716) 805-1599
Securities registered pursuant to Section 12(b) of the Act:
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Trading Symbol |
Name of each exchange on which registered |
| Common Stock, $.01 par value per share |
ATRO |
NASDAQ Stock Market |
Securities registered pursuant to Section 12(g) of the Act: None
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
☐ Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition.
On July 17, 2023, Astronics Corporation issued a news release announcing preliminary sales and bookings for the second quarter of 2023. A copy of the press release is attached as Exhibit 99.1.
The information contained herein and in the accompanying exhibit shall not be incorporated by reference into any filing of the registrant, whether made before or after the date hereof, regardless of any general incorporation language in such filing. The information in this report including the exhibit hereto, shall not be deemed to be “filed” for purpose of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended.
Item 9.01 Financial Statements and Exhibits.
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Description |
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Press Release of Astronics Corporation dated July 17, 2023 |
| 104 |
Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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Astronics Corporation |
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| Dated: |
July 17, 2023 |
By: |
/s/ David C. Burney |
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Name: |
David C. Burney |
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Executive Vice President and Chief Financial Officer |
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EX-99.1
2
ex99120230717-pr.htm
EX-99.1
Document
NEWS RELEASE
Exhibit 99.1
For Immediate Release
Astronics Corporation Reports Preliminary Orders
for Second Quarter 2023 of Approximately $200 million
•Expects revenue for second quarter 2023 to be in range of $170 million to $175 million; at upper end of previous guidance
•Announces second quarter 2023 financial results conference call and webcast scheduled for aftermarket on Thursday, August 3, 2023
EAST AURORA, NY, July 17, 2023 – Astronics Corporation (Nasdaq: ATRO), a leading provider of advanced technologies for global aerospace, defense and other mission critical industries, announced that preliminary orders for the second quarter of 2023 are approximately $200 million to $205 million. Included in orders was a $9.6 million production order for the Handheld Radio Test Sets (HHRTS) Program for the U.S. Marine Corps (USMC) related to the $40 million IDIQ contract previously announced on April 6, 2023.
The Company also announced that unaudited preliminary results suggest revenue for the second quarter to be in the range of $170 million to $175 million. This is at the upper end of its previous guidance range of $165 million to $175 million which was provided on May 9, 2023.
Second Quarter 2023 Conference Call
Astronics plans to release its second quarter 2023 financial results after the close of financial markets on Thursday, August 3, 2023 and will host a conference call and webcast that same day to review its financial and operating results and discuss its corporate strategies and outlook. A question-and-answer session will follow.
Thursday, August 3, 2023
4:45 p.m. Eastern Time
Phone: (412) 317-5180
Webcast: investors.astronics.com
A telephonic replay will be available from 8:00 p.m. ET on the day of the call through Thursday, August 17, 2023. To listen to the archived call, dial (412) 317-6671 and enter replay pin 10180028. The webcast replay can be accessed via the investor relations section of the Company’s website where a transcript will also be posted once available.
ABOUT ASTRONICS CORPORATION
Astronics Corporation (Nasdaq: ATRO) serves the world’s aerospace, defense, and other mission critical industries with proven, innovative technology solutions. Astronics works side-by-side with customers, integrating its array of power, connectivity, lighting, structures, interiors, and test technologies to solve complex challenges. For over 50 years, Astronics has delivered creative, customer-focused solutions with exceptional responsiveness. Today, global airframe manufacturers, airlines, militaries, completion centers and Fortune 500 companies rely on the collaborative spirit and innovation of Astronics. The Company’s
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Astronics Corporation |
press@astronics.com | + 1.716.805.1599 |
| 130 Commerce Way | East Aurora, NY 14052 |
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Astronics Corporation Reports Preliminary Orders for Second Quarter 2023 of Approximately $200 million
July 17, 2023
Page 2 of 2
strategy is to increase its value by developing technologies and capabilities that provide innovative solutions to its targeted markets.
For more information on Astronics and its solutions, visit Astronics.com.
For more information, contact:
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Company |
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Investors |
| David C. Burney, CFO |
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Deborah K. Pawlowski |
| Astronics Corporation |
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Kei Advisors LLC |
| T: 716.805.1599 x 159 |
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T: 716.843.3908 |
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dpawlowski@keiadvisors.com |
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Astronics Corporation |
press@astronics.com | + 1.716.805.1599 |
| 130 Commerce Way | East Aurora, NY 14052 |
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