Astronics Q4 2019 Earnings Report
Key Takeaways
Astronics Corporation reported a net loss of $34.1 million for Q4 2019, impacted by significant restructuring and impairment charges related to its antenna business and an unfavorable legal ruling. Sales were $198.4 million, a slight decrease compared to the previous year. The company is facing challenges due to the 737 MAX situation but is optimistic about future profitability after restructuring efforts and acquisitions.
Fourth quarter sales reached $198.4 million.
Net loss for the fourth quarter was $34.1 million, including $51.7 million in restructuring, impairment charges, and legal reserves.
Consolidated orders for the quarter totaled $156 million.
Backlog at the end of the year was $360 million.
Astronics
Astronics
Astronics Revenue by Segment
Forward Guidance
Astronics withdrew revenue guidance due to the continued grounding of the 737 MAX. They expect Q1 2020 revenue to be between $155 to $165 million, with Aerospace contributing about 90%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income