Astro-Med Q2 sales up 7%

Astro-Med, Inc. (NASDAQ: ALOT) said it reported second-quarter fiscal 2016 sales of USD23.9 million, a seven percent increase year-on-year. Second-quarter net income was USD1.2 million, or USD0.16 per diluted share.

“Astro-Med posted a profitable second quarter highlighted by continued top-line growth, strong orders of USD25.4 million and a healthy backlog,” said Gregory A. Woods, the company´s President and Chief Executive Officer.

Gross profit for the second quarter of fiscal 2016 was USD9.8 million, or 41.1 percent of sales, compared with USD9.6 million, or 42.9 percent of sales, for the year-earlier period.

Net income for the second quarter of fiscal 2016 was USD1.2 million, or USD0.16 per diluted share, compared with USD1.4 million, or USD0.18 per diluted share, in the same period of fiscal 2015.

Cash and cash equivalents at August 1, 2015 were USD18.3 million, compared with USD23.1 million at year-end fiscal 2015. The change in the cash position reflected the June 2015 product line acquisition from RITEC Inc. for approximately USD7.4 million in cash.