- \n
- \nBookings of $38.4 million, up 18.2%<\/p>\n<\/li>\n
- \nRevenue of $35.4 million, up 14.2%<\/p>\n<\/li>\n
- \nOperating income of $1.5 million, up 91.2%<\/p>\n<\/li>\n
- \nNet income of $0.8 million, up 99.5%<\/p>\n<\/li>\n
- \nEarnings per diluted share of $0.11, up 83.3%<\/p>\n<\/li>\n
- \nAdjusted EBITDA of $3.1 million, up 59.9%<\/p>\n<\/li>\n<\/ul>\n
WEST WARWICK, R.I.–(BUSINESS WIRE<\/a>)–
\nAstroNova, Inc. (Nasdaq: ALOT), a global leader in data visualization technologies, today announced financial results for the first quarter ended April 29, 2023.<\/p>\nCEO Commentary<\/b><\/p>\n
\n\u201cOur strong first-quarter results reflected our solid performance integrating the Astro Machine acquisition, maintaining cost discipline and capitalizing on the expanding recovery of the commercial aviation market,\u201d stated Greg Woods, AstroNova\u2019s President and Chief Executive Officer. \u201cThe hard work of our teams around the globe helped to deliver an 18% increase in orders, a 14% increase in revenue and a 91% increase in operating profit. These results were driven by the contribution of Astro Machine in our Product Identification (Product ID) segment and the momentum of the commercial aerospace products in our Test & Measurement (T&M) segment.<\/p>\n
\n\u201cIn the Product ID segment, we expect that revenue from the retrofitted printers in the field that were sidelined last year by a supplier-related ink quality issue will increase over the coming quarters, as more units are returned to full production. Last month marked the launch of AstroNova\u2019s first eCommerce site, and we kicked off the 2023 trade show season with a great response at two large shows in Germany: interpack in D\u00fcsseldorf and FESPA Global Print Expo in Munich. Our eCommerce site features some of our latest products, including those demonstrated at interpack and FESPA, and lead generation from these activities has been very strong. We have several exciting new products in the pipeline for this year, with our next new printer scheduled to launch in just a few weeks.<\/p>\n
\n\n\u201cIn our T&M segment, the continued strong growth in air travel and the increasing number of aircraft in service, continue to bode well for the hardware, supplies and service areas of our aerospace product lines. As we move through the year, we remain focused on executing on the key tenets of our growth strategy: operational excellence, product innovation, strategic M&A and geographic expansion,\u201d Woods concluded.<\/p>\n
First-Quarter Fiscal 2024 Financial Summary<\/b><\/p>\n
\nRevenue increased 14.2% to $35.4 million from $31.0 million in the year-earlier period, driven primarily by the Product Identification segment.<\/p>\n
\nHardware revenue grew 25.4% to $11.7 million compared with $9.3 million in the first quarter of fiscal 2023. Supplies revenue increased 6.3% to $19.1 million from $17.9 million in the comparable period of fiscal 2023. Revenue from Service\/Other increased 24.4% to $4.7 million from $3.8 million in the first quarter of fiscal 2023.<\/p>\n
\nGross profit increased 15.4% to $12.4 million, or 35.0% of revenue, from $10.7 million, or 34.6% of revenue, in the first quarter of fiscal 2023, primarily reflecting the effect of higher revenue in the fiscal 2024 period.<\/p>\n
\nOperating expenses totaled $10.9 million, an increase of 9.6% from $10.0 million in the year-earlier period, primarily reflecting higher general and administrative expenses associated with the addition of Astro Machine in the third quarter of fiscal 2023.<\/p>\n
\nOperating income increased 91.2% to $1.5 million from $0.8 million in the first quarter of fiscal 2023, primarily reflecting the acquisition of Astro Machine.<\/p>\n
\nNet income was $0.8 million, or $0.11 per diluted share, compared with net income of $0.4 million, or $0.06 per diluted share, in the first quarter of fiscal 2023.<\/p>\n
\nEarnings before interest, taxes, depreciation and amortization (EBITDA) was $2.7 million compared with $1.6 million for the same period in fiscal 2023.<\/p>\n
\nAdjusted EBITDA, which the Company defines as earnings before interest, taxes, depreciation, amortization and share-based compensation, was $3.1 million for the first quarter of fiscal 2024, compared with $1.9 million in the first quarter of fiscal 2023.<\/p>\n
\nBookings totaled $38.4 million, compared with $32.5 million in the first quarter of fiscal 2023, reflecting an increase in orders for both segments.<\/p>\n
\nBacklog as of April 29, 2023 was $38.7 million versus $29.3 million at the end of the fiscal 2023 first quarter.<\/p>\n
\nFirst-Quarter Fiscal 2024 Operating Segment Results<\/b><\/p>\n
Product Identification<\/span><\/p>\n
\nProduct Identification segment revenue was $25.1 million in the first quarter of fiscal 2024, compared with $21.7 million in the fiscal 2023 first quarter. Segment operating profit was $2.5 million, or 10.0% of revenue, compared with segment operating profit of $1.4 million, or 6.5% of revenue, in the first quarter of fiscal 2023.<\/p>\n
Test & Measurement<\/span><\/p>\n
\nTest & Measurement segment revenue increased to $10.3 million in the first quarter of fiscal 2024 from $9.3 million in the first quarter of fiscal 2023. Segment operating profit was $2.1 million, or 20.1% of revenue, compared with segment operating profit of $1.9 million, or 20.6% of revenue, in the first quarter of fiscal 2023.<\/p>\n
Earnings Conference Call<\/b><\/p>\n
\nAstroNova will discuss its first-quarter fiscal 2024 financial results in an investor conference call at 9:00 a.m. ET today. To participate on the conference call, please dial (404) 975-4839 (U.S. and Canada) or (833) 470-1428 (International) approximately 10 minutes prior to the start time and enter access code 177418. A real-time and an archived audio webcast of the call will be available through the \u201cInvestors\u201d section of the AstroNova website, https:\/\/investors.astronovainc.com<\/a>.<\/p>\n
Use of Non-GAAP Financial Measures<\/b><\/p>\n
\nIn addition to financial measures prepared in accordance with generally accepted accounting principles (GAAP), this news release contains the non-GAAP financial measures EBITDA and Adjusted EBITDA.<\/p>\n
\nAstroNova believes that the inclusion of these non-GAAP financial measures helps investors gain a meaningful understanding of changes in the Company\u2019s core operating results and can help investors who wish to make comparisons between AstroNova and other companies on both a GAAP and a non-GAAP basis. AstroNova\u2019s management uses these non-GAAP financial measures, in addition to GAAP financial measures, as the basis for measuring its core operating performance and comparing such performance to that of prior periods and to the performance of its competitors. These measures are also used by the Company\u2019s management to assist with their financial and operating decision-making. Please refer to the financial reconciliation tables included in this news release for a reconciliation of GAAP measures to the most directly comparable non-GAAP measures for the three months ended April 29, 2023 and April 30, 2022.<\/p>\n
\nAbout AstroNova<\/b><\/p>\n
\nAstroNova (Nasdaq: ALOT), a global leader in data visualization technologies since 1969, designs, manufactures, distributes, and services a broad range of products that acquire, store, analyze, and present data in multiple formats.<\/p>\n
\nThe Product Identification segment provides a wide array of digital, end-to-end product marking and identification solutions including hardware, software, and supplies for OEMs, commercial printers, and brand owners. The Test and Measurement segment provides products designed for airborne printing solutions, avionics, and data acquisition. Our aerospace products include flight deck printing solutions, networking hardware, and specialized aerospace-grade supplies. Our data acquisition systems are used in research and development, flight testing, missile and rocket telemetry production monitoring, power, and maintenance applications.<\/p>\n
\n
\n \u00a0<\/td>\n<\/tr>\n \n ASTRONOVA, INC.<\/b><\/td>\n<\/tr>\n \n Condensed Consolidated Statements of Income<\/b><\/td>\n<\/tr>\n \n In Thousands Except for Per Share Data<\/b><\/td>\n<\/tr>\n \n (Unaudited)<\/b><\/td>\n<\/tr>\n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n Three Months Ended<\/td>\n<\/tr>\n \n \n April 29, 2023<\/b><\/td>\n \n April 30, 2022<\/td>\n <\/tr>\n \n Net Revenue<\/td>\n \n $<\/b>\u00a0<\/p>\n<\/td>\n
\n 35,419<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n$\u00a0<\/p>\n<\/td>\n
\n \n31,010<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n Cost of Revenue<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n 23,034<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n20,281<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n Gross Profit<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n 12,385<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n10,729<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n Total Gross Profit Margin<\/i><\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n 35.0<\/i><\/p>\n<\/td>\n
\n %<\/i><\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n 34.6<\/i><\/p>\n<\/td>\n
\n %<\/i><\/p>\n<\/td>\n
<\/tr>\n \n Operating Expenses:<\/td>\n \n \n \n <\/tr>\n \n Selling & Marketing<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n 6,010<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n5,883<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n Research & Development<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n 1,788<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n1,522<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n General & Administrative<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n 3,126<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n2,560<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n Total Operating Expenses<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n 10,924<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n9,965<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n Operating Income<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n 1,461<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n764<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n Total Operating Margin<\/i><\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n 4.1<\/i><\/p>\n<\/td>\n
\n %<\/i><\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n 2.5<\/i><\/p>\n<\/td>\n
\n %<\/i><\/p>\n<\/td>\n
<\/tr>\n \n Other Expense, net<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n 434<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n279<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n Income Before Taxes<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n 1,027<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n485<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n Income Tax Provision<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n 179<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n60<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n Net Income<\/td>\n \n $<\/b><\/p>\n<\/td>\n
\n 848<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n$<\/p>\n<\/td>\n
\n \n425<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n Net Income per Common Share – Basic<\/td>\n \n $<\/b><\/p>\n<\/td>\n
\n 0.12<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n$<\/p>\n<\/td>\n
\n \n0.06<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n Net Income per Common Share – Diluted<\/td>\n \n $<\/b><\/p>\n<\/td>\n
\n 0.11<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n$<\/p>\n<\/td>\n
\n \n0.06<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Weighted Average Number of Common Shares – Basic<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n 7,370<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n7,263<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n Weighted Average Number of Common Shares – Diluted<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n 7,450<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n7,396<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n<\/table>\n\n \n
\n <\/tr>\n \n ASTRONOVA, INC.<\/b><\/td>\n<\/tr>\n \n Consolidated Balance Sheets<\/b><\/td>\n<\/tr>\n \n In Thousands<\/b><\/td>\n<\/tr>\n \n (Unaudited)<\/b><\/td>\n<\/tr>\n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n April 29, 2023<\/b><\/td>\n \n January 31, 2023<\/td>\n <\/tr>\n \n ASSETS<\/td>\n \n \n \n <\/tr>\n \n CURRENT ASSETS<\/td>\n \n \n \n <\/tr>\n \n Cash and Cash Equivalents<\/td>\n \n $<\/b><\/p>\n<\/td>\n
\n 5,413<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n$<\/p>\n<\/td>\n
\n \n3,946<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n Accounts Receivable, net<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n 19,285<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n21,598<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n Inventories, net<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n 53,126<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n51,324<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n Prepaid Expenses and Other Current Assets<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n 2,678<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n2,894<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n Total Current Assets<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n 80,502<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n79,762<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n PROPERTY, PLANT AND EQUIPMENT<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n 55,474<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n55,394<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n Less Accumulated Depreciation<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n (41,556<\/b><\/p>\n<\/td>\n
\n )<\/b><\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n(41,106<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
<\/tr>\n \n Property, Plant and Equipment, net<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n 13,918<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n14,288<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n OTHER ASSETS<\/td>\n \n \n \n <\/tr>\n \n Intangible Assets, net<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n 20,630<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n21,232<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n Goodwill<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n 14,760<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n14,658<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n Deferred Tax Assets<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n 6,907<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n6,907<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n Right of Use Asset<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n 858<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n794<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n Other Assets<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n 1,621<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n1,566<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n TOTAL ASSETS<\/td>\n \n $<\/b><\/p>\n<\/td>\n
\n 139,196<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n$<\/p>\n<\/td>\n
\n \n139,207<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n LIABILITIES AND SHAREHOLDERS\u2019 EQUITY<\/td>\n \n \n \n <\/tr>\n \n CURRENT LIABILITIES<\/td>\n \n \n \n <\/tr>\n \n Accounts Payable<\/td>\n \n $<\/b><\/p>\n<\/td>\n
\n 8,000<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n$<\/p>\n<\/td>\n
\n \n8,479<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n Accrued Compensation<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n 3,267<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n2,750<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n Other Liabilities and Accrued Expenses<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n 3,484<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n3,308<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n Revolving Line of Credit<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n 15,900<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n15,900<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n Current Portion of Long-Term Debt<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n 2,100<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n2,100<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n Current Portion of Royalty Obligation<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n 1,600<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n1,725<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n Current Liability \u2013 Excess Royalty Payment Due<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n 379<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n562<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n Income Taxes Payable<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n 730<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n786<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n Deferred Revenue<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n 1,971<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n1,888<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n Total Current Liabilities<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n 37,431<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n37,498<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n NON-CURRENT LIABILITIES<\/td>\n \n \n \n <\/tr>\n \n Long-Term Debt, net of current portion<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n 11,678<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n12,040<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n Royalty Obligation, net of current portion<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n 3,102<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n3,415<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n Lease Liability, net of current portion<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n 581<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n555<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n Income Taxes Payable<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n 491<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n491<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n Deferred Revenue<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n 267<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n674<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n Deferred Tax Liabilities<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n 172<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n167<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n TOTAL LIABILITIES<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n 53,722<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n54,840<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n SHAREHOLDERS\u2019 EQUITY<\/td>\n \n \n \n <\/tr>\n \n Common Stock<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n 538<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n534<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n Additional Paid-in Capital<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n 61,526<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n61,131<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n Retained Earnings<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n 60,023<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n59,175<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n Treasury Stock<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n (34,585<\/b><\/p>\n<\/td>\n
\n )<\/b><\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n(34,235<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
<\/tr>\n \n Accumulated Other Comprehensive Loss, net of tax<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n (2,028<\/b><\/p>\n<\/td>\n
\n )<\/b><\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n(2,238<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
<\/tr>\n \n TOTAL SHAREHOLDERS\u2019 EQUITY<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n 85,474<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n84,367<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n TOTAL LIABILITIES AND SHAREHOLDERS\u2019 EQUITY<\/td>\n \n $<\/b><\/p>\n<\/td>\n
\n 139,196<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n$<\/p>\n<\/td>\n
\n \n139,207<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n<\/table>\n\n \n
\n <\/tr>\n \n ASTRONOVA, INC.<\/b><\/td>\n<\/tr>\n \n Revenue and Segment Operating Profit<\/b><\/td>\n<\/tr>\n \n In Thousands<\/b><\/td>\n<\/tr>\n \n (Unaudited)<\/b><\/td>\n<\/tr>\n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n Revenue<\/b><\/td>\n \n Segment Operating Profit<\/b><\/td>\n <\/tr>\n \n \n Three Months Ended<\/td>\n \n Three Months Ended<\/td>\n <\/tr>\n \n \n April 29, 2023<\/b><\/td>\n April 30, 2022<\/td>\n \n April 29, 2023<\/b><\/td>\n April 30, 2022<\/td>\n <\/tr>\n \n Product Identification<\/td>\n \n $<\/b><\/p>\n<\/td>\n
\n 25,095<\/b><\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n21,724<\/p>\n<\/td>\n
\n \n $<\/b><\/p>\n<\/td>\n
\n 2,515<\/b><\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n1,413<\/p>\n<\/td>\n
<\/tr>\n \n Test & Measurement<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n 10,324<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n9,286<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n 2,072<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n1,911<\/p>\n<\/td>\n
<\/tr>\n \n Total<\/td>\n \n $<\/b><\/p>\n<\/td>\n
\n 35,419<\/b><\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n31,010<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n 4,587<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n3,324<\/p>\n<\/td>\n
<\/tr>\n \n Corporate Expenses<\/td>\n \n \n \n \n \n\u00a0<\/p>\n<\/td>\n
\n 3,126<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n2,560<\/p>\n<\/td>\n
<\/tr>\n \n Operating Income<\/td>\n \n \n \n \n \n\u00a0<\/p>\n<\/td>\n
\n 1,461<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n764<\/p>\n<\/td>\n
<\/tr>\n \n Other Expense, net<\/td>\n \n \n \n \n \n\u00a0<\/p>\n<\/td>\n
\n 434<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n279<\/p>\n<\/td>\n
<\/tr>\n \n Income Before Income Taxes<\/td>\n \n \n \n \n \n\u00a0<\/p>\n<\/td>\n
\n 1,027<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n485<\/p>\n<\/td>\n
<\/tr>\n \n Income Tax Provision<\/td>\n \n \n \n \n \n\u00a0<\/p>\n<\/td>\n
\n 179<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n60<\/p>\n<\/td>\n
<\/tr>\n \n Net Income<\/td>\n \n \n \n \n $<\/b><\/p>\n<\/td>\n
\n 848<\/b><\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n425<\/p>\n<\/td>\n
<\/tr>\n<\/table>\n\n \n
\n <\/tr>\n \n ASTRONOVA, INC.<\/b><\/td>\n<\/tr>\n \n Reconciliation of Net Income to EBITDA<\/b><\/td>\n<\/tr>\n \n In Thousands<\/b><\/td>\n<\/tr>\n \n (Unaudited)<\/b><\/td>\n<\/tr>\n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n Three Months Ended<\/td>\n <\/tr>\n \n \n April 29, 2023<\/b><\/td>\n \n April 30, 2022<\/td>\n <\/tr>\n \n Net Income \u2212 GAAP<\/td>\n \n $<\/b><\/p>\n<\/td>\n
\n 848<\/b><\/p>\n<\/td>\n
\n \n \n$<\/p>\n<\/td>\n
\n \n425<\/p>\n<\/td>\n
<\/tr>\n \n Interest Expense<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n 615<\/b><\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n175<\/p>\n<\/td>\n
<\/tr>\n \n Income Tax Provision<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n 179<\/b><\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n60<\/p>\n<\/td>\n
<\/tr>\n \n Depreciation\/Amortization<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n 1,055<\/b><\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n912<\/p>\n<\/td>\n
<\/tr>\n \n EBITDA<\/td>\n \n $<\/b><\/p>\n<\/td>\n
\n 2,697<\/b><\/p>\n<\/td>\n
\n \n \n$<\/p>\n<\/td>\n
\n \n1,572<\/p>\n<\/td>\n
<\/tr>\n<\/table>\n\n \n
\n <\/tr>\n \n ASTRONOVA, INC.<\/b><\/td>\n<\/tr>\n \n Reconciliation of Net Income to Adjusted EBITDA<\/b><\/td>\n<\/tr>\n \n In Thousands<\/b><\/td>\n<\/tr>\n \n (Unaudited)<\/b><\/td>\n<\/tr>\n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n Three Months Ended<\/td>\n <\/tr>\n \n \n April 29, 2023<\/b><\/td>\n \n April 30, 2022<\/td>\n <\/tr>\n \n Net Income \u2212 GAAP<\/td>\n \n $<\/b><\/p>\n<\/td>\n
\n 848<\/b><\/p>\n<\/td>\n
\n \n \n$<\/p>\n<\/td>\n
\n \n425<\/p>\n<\/td>\n
<\/tr>\n \n Interest Expense<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n 615<\/b><\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n175<\/p>\n<\/td>\n
<\/tr>\n \n Income Tax Provision<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n 179<\/b><\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n60<\/p>\n<\/td>\n
<\/tr>\n \n Share-Based Compensation<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n 356<\/b><\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n337<\/p>\n<\/td>\n
<\/tr>\n \n Depreciation\/Amortization<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n 1,055<\/b><\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n912<\/p>\n<\/td>\n
<\/tr>\n \n Adjusted EBITDA<\/td>\n \n $<\/b><\/p>\n<\/td>\n
\n 3,053<\/b><\/p>\n<\/td>\n
\n \n \n$<\/p>\n<\/td>\n
\n \n1,909<\/p>\n<\/td>\n
<\/tr>\n<\/table>\n \n\u00a0<\/p>\n
<\/p>\n
View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20230607005889\/en\/<\/a><\/span><\/p>\n
\nScott Solomon
\n
Senior Vice President
\n
Sharon Merrill Associates, Inc.
\n
(857) 383-2409
\n
ALOT@investorrelations.com<\/a><\/p>\nKEYWORDS:<\/b> Rhode Island United States North America<\/p>\n
INDUSTRY KEYWORDS:<\/b> Aerospace Hardware Manufacturing Technology Software<\/p>\n
![\"Logo\"](\"https:\/\/mms.businesswire.com\/media\/20230607005889\/en\/1813985\/3\/AstroNova_logo.jpg\"){kind=logo}
<\/td>\n<\/tr>\n