Astronics Corporation reports record quarterly sales of $89.7m

Astronics Corporation released that consolidated sales for the third quarter of 2013 increased by 30.2% to $89.7m compared with the same period last year. Aerospace sales of $87.5m, which represented 97.6% of the consolidated total, increased by $21.7m, including $15.7m associated with the acquisition of Peco. Test Systems sales decreased $0.9m to $2.1m. Consolidated gross profit was $23.8m, up $7.1m from the prior-year period. Consolidated gross margin was 26.5% compared with 24.3% for the third quarter of 2012. Net income in the third quarter of 2013 was $7.2m, up 45.1% compared with $4.9m last year.