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Dec 31, 2020
Astronics Q4 2020 Earnings Report
Reported a challenging quarter due to the continued pause of production of the 737 MAX and the impacts of the COVID-19 pandemic on the global aerospace industry.
Key Takeaways
Astronics Corporation reported a decrease in fourth-quarter sales by 42.1% compared to the same period in 2019, with sales of $114.8 million. The company incurred a net loss of $20.0 million, which included a $14.1 million non-cash tax expense. Adjusted EBITDA was $2.9 million, or 2.5% of sales. Bookings were $116.0 million, and the backlog at the end of the year was $283.4 million.
Fourth quarter sales were $114.8 million; full year sales were $502.6 million.
Fourth quarter pre-tax loss was $7.5 million and net loss was $20.0 million, including a non-cash reserve of $14.1 million against deferred tax assets.
Fourth quarter Adjusted EBITDA was $2.9 million.
Fourth quarter bookings were $116.0 million, demonstrating sequential improvement.
Revenue by Segment
Revenue & Expenses
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