Astronics Corporation reports first quarter 2010 results

Astronics Corporation reported financial results for the first quarter of 2010. Sales in the first quarter of 2010 were $46.9 million, down $3.1 million, or 6.2%, from the prior year period. The 2010 first quarter included sales for Astronics’ DME subsidiary for the entire period while the 2009 first quarter included DME sales for a nine week period. Astronics acquired DME on January 30, 2009. The Company reported net income in the first quarter of 2010 of $3.4 million compared with net income of $1.4 million in the same period of last year. Consolidated bookings in the first quarter totaled $54.3 million, an increase of 76% over the first quarter of 2009.