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Astronics (ATRO)

Astronics Corporation serves the world's aerospace, defense, and other mission critical industries with proven, innovative technology solutions. Astronics works side-by-side with customers, integrating its array of power, connectivity, lighting, structures, interiors, and test technologies to solve complex challenges. For over 50 years, Astronics has delivered creative, customer-focused solutions with exceptional responsiveness. Today, global airframe manufacturers, airlines, militaries, completion centers and Fortune 500 companies rely on the collaborative spirit and innovation of Astronics.

Company profile

Ticker
ATRO, ATROB
Exchange
CEO
Peter Gundermann
Employees
Incorporated
Location
Fiscal year end
SEC CIK
Subsidiaries
Astronics Test Systems, Inc. • Astronics DME LLC • Astronics AeroSat Corporation • Luminescent Systems, Inc. • Astronics Air, LLC • Peco, Inc. • Ballard Technology, Inc. • Astronics Advanced Electronic Systems Corp. • LSI - Europe • Luminescent Systems Canada, Inc. ...
IRS number
160959303

ATRO stock data

Analyst ratings and price targets

Last 3 months

Calendar

11 Aug 22
16 Aug 22
31 Dec 22
Quarter (USD) Jul 22 Apr 22 Dec 21 Oct 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 10.68M 10.68M 10.68M 10.68M 10.68M 10.68M
Cash burn (monthly) 4.44M 1.91M 3.45M 1.74M 3.55M 1.13M
Cash used (since last report) 6.62M 2.84M 5.14M 2.59M 5.28M 1.68M
Cash remaining 4.07M 7.84M 5.55M 8.09M 5.4M 9.01M
Runway (months of cash) 0.9 4.1 1.6 4.6 1.5 8.0

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
31 May 22 Tonit M Calaway $.01 PV Com Stk Option exercise Acquire M No No 0 3,380 0 15,730
31 May 22 Tonit M Calaway RSU $.01 PV Com Stk Option exercise Dispose M No No 0 3,380 0 0
11 Mar 22 Michael C Kuehn $.01 PV Com Stk Payment of exercise Dispose F No No 13.18 79 1.04K 2,129
11 Mar 22 Michael C Kuehn $.01 PV Com Stk Option exercise Acquire M No No 0 227 0 2,208
11 Mar 22 Michael C Kuehn $.01 PV Com Stk Payment of exercise Dispose F No No 13.18 640 8.44K 1,981
11 Mar 22 Michael C Kuehn $.01 PV Com Stk Option exercise Acquire M No No 0 1,849 0 2,621
11 Mar 22 Michael C Kuehn RSU $.01PV Com Stk Option exercise Dispose M No No 0 227 0 453
11 Mar 22 Michael C Kuehn RSU $.01 PV Com Stk Option exercise Dispose M No No 0 2,465 0 0
11 Mar 22 James Mulato $.01 PV Common Stock Payment of exercise Dispose F No No 13.18 63 830.34 10,965
11 Mar 22 James Mulato $.01 PV Common Stock Option exercise Acquire M No No 0 210 0 11,028
1.8% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 5 106 -95.3%
Opened positions 3 19 -84.2%
Closed positions 104 11 +845.5%
Increased positions 0 28 EXIT
Reduced positions 1 37 -97.3%
13F shares Current Prev Q Change
Total value 4.18M 744.78M -99.4%
Total shares 448.51K 18.78M -97.6%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners Shares Value Change
Boston & Saranac 448.2K $4.18M 0.0%
Captrust Financial Advisors 143 $2K -72.2%
Private Capital 75 $1K NEW
FNY Investment Advisers 67 $0 NEW
IFP Advisors 22 $2K NEW
Largest transactions Shares Bought/sold Change
BLK Blackrock 0 -2.07M EXIT
Next Century Growth Investors 0 -1.99M EXIT
Royce & Associates 0 -1.54M EXIT
Paradice Investment Management 0 -1.26M EXIT
325 Capital 0 -1.15M EXIT
Vanguard 0 -1.15M EXIT
Dimensional Fund Advisors 0 -658.81K EXIT
Geode Capital Management 0 -499.78K EXIT
MS Morgan Stanley 0 -469.22K EXIT
STT State Street 0 -446.57K EXIT

Financial report summary

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Competition
Teradyne
Management Discussion
  • Consolidated sales were down $57.7 million to $444.9 million compared to the prior year. Aerospace sales were down $52.8 million and continue to be negatively affected by the continued impacts of the COVID-19 pandemic, while the prior-year period was inclusive of the pre-pandemic levels during the first quarter. Test System sales decreased $4.9 million.
  • Consolidated cost of products sold were down $26.2 million to $379.5 million in 2021 from $405.7 million in the prior year. The decrease was primarily due to lower volume related to the continued impacts of the COVID-19 pandemic on the global aerospace industry. The current year period benefited from $8.7 million recognized as an offset to cost of products sold related to the AMJP award, but was negatively impacted by higher warranty expenses of $3.9 million.
  • Selling, general and administrative (“SG&A”) expenses were $99.1 million compared with $110.5 million for the prior year period. The decrease in 2021 was due to the cost control measures implemented at the onset of the pandemic late in the first quarter of 2020 which resulted in lower labor costs and discretionary spending. The Company incurred $0.6 million in restructuring-related severance charges in the current year and $5.3 million in the prior year, primarily in the Aerospace segment. SG&A in the current year also benefited from a $2.2 million non-cash reduction of the fair value of a contingent consideration liability. However, in January 2022, the Company was notified of an adverse ruling in its long-running intellectual property dispute with Lufthansa Technik, which has been in litigation since 2010 in the U.S., France, Germany and the United Kingdom. Most recently, the U.K. Court has ruled that the subject patent is valid and that the Company has been infringing the expired patent. Based on the information currently available, the Company accrued $8.4 million relative to the U.K. matter in 2021, although the actual amount of damages will not be known until the damages trial is completed, which is expected to occur sometime in 2023. This amount was recorded within SG&A in the fourth quarter of 2021.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. freshman Avg
New words: airline, collateral, communication, estate, eVTOL, expansion, forward, hardware, inflationary, lending, lifted, Lilium, meaningfully, midpoint, momentum, monetize, Safran, satellite, selection, Southwest, step, today
Removed: AeroSat, buyer, connection, delaying, delivery, determine, maintaining, raw, realized, reconcile, record, require, respond, return, ship, written