Astronics Corporation (NASDAQ:ATRO), a provider of advanced technologies for the global aerospace, defense and semiconductor industries, has announced updated expectations for 2017 year-end results and revenue guidance for 2018, the company said.
Astronics announced that bookings for the 2017 fourth quarter were approximately USD 229 million. The company´s Aerospace segment contributed USD 171 million in orders, which included USD 17 million in orders related to the December 1, 2017 acquisition of Telefonix PDT. The Test segment had USD 58 million in bookings, which included USD 56 million for semiconductor test equipment.
The company updated its 2018 consolidated revenue guidance to USD 745 million to USD 815 million. The Aerospace segment is expected to have a revenue range of USD 630 million to USD 680 million including Telefonix PDT. The Test segment is expected to have revenue of USD 115 million to USD 135 million.
The company also announced that it expects to record a non-cash goodwill impairment charge against the goodwill associated with Armstrong Aerospace of approximately USD 16 million in the 2017 fourth quarter.
Astronics serves the world´s aerospace, defense and semiconductor industries with proven, innovative technology solutions. Astronics works side-by-side with customers, integrating its array of power, connectivity, lighting, structure, test and additional technologies to solve complex challenges. For nearly 50 years, Astronics has delivered creative, customer-focused solutions with exceptional responsiveness. Today, global airframe manufacturers, airlines, military branches, completion centers and Fortune 500 manufacturing organizations rely on the collaborative spirit and innovation of Astronics.
For more information on Astronics and its solutions, visit Astronics.com.