Astronics Corporation reported financial results for the fourth quarter and full year 2009. Results for the 2009 fourth quarter and year include DME Corporation, which was acquired by Astronics on January 30, 2009.
Sales in the fourth quarter of 2009 were $45.6 million, up $1.2 million from the prior year period. Astronics’ organic business, excluding the acquired business, had sales of $32.7 million in the 2009 fourth quarter, down 26.3%, or $11.7 million, from the 2008 fourth quarter. Sales related to the acquisition in the 2009 fourth quarter were $12.9 million.
Full year 2009 revenue of $191.2 million was a record for Astronics and up 10% from $173.7 million in 2008. The January 30, 2009 acquisition of DME added $51.2 million to organic sales of $140.0 million in 2009.
The Company reported a net loss in the fourth quarter of 2009 of $9.7 million, or $0.90 per diluted share, compared with a net loss of $1.8 million, or $0.17 per diluted share, in the same period of last year.
