Astronics Corporation reports 4th quarter sales up 22%

Astronics Corporation reported sales of $44.4 million in the fourth quarter of 2008, up 22.4% compared with $36.3 million in the fourth quarter of 2007. The Company reported a fourth quarter 2008 loss of $0.2 million, compared with net income of $2.1 million in the 2007 fourth quarter. During the quarter, the Company recorded a pre-tax charge of $7.5 million to write-down assets associated with its customer Eclipse Aviation Corporation, which declared bankruptcy in November 2008.