Astronics Corporation reports net income up 17.0%

Astronics Corporation released that sales in the first quarter of 2012 were $65.1m, up $10.0 million, or 18.2%, from the prior year first quarter sales of $55.1 million. Aerospace sales, which represented approximately 95% of total first quarter sales, increased 23.5% over the prior year period to $62.0m. Test Systems sales decreased to $3.1m for the first quarter 2012 compared with last year’s first quarter of $4.9m. Net income in the first quarter of 2012 was $6.1m compared with net income of $5.2m in the same period of last year. Earnings per share for the first quarter of 2011 have been restated to reflect the impact of the one-for-ten Class B stock distribution to shareholders of record on August 16, 2011.