ASTRONICS CORP

Listed Company

ATROCIK 0000008063NasdaqLarge AcceleratedAircraft Parts & Auxiliary Equipment, NecNew YorkFY ends Dec 31

Period

FY 2025

Revenue

$862.13M

Net Income

$29.36M

Total Assets

$706.68M

Equity

$140.07M

Shares Out

32.28M

Op. Cash Flow

$74.80M

Business

ASTRONICS CORP is a provider of advanced technologies and systems for the global aerospace, defense and electronics industries. The company designs and manufactures electrical power generation, distribution and motion systems, lighting and safety systems, avionics and certification services, aircraft structures and automated test systems. Its business is organized principally into Aerospace and Test Systems segments, serving OEMs, suppliers, aircraft operators and government/prime contractors. Astronics sells globally through direct contracts and purchase orders with airframe manufacturers, airlines, defense customers and system integrators, with operations in the U.S., Canada, France and engineering offices in Ukraine and India.

Summary from filing dated 2025-03-05

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Sales	862	795	689	535	445
Cost of Products Sold	604	575	515	463	380
Gross Profit	258	220	175	72	65
Research and Development Expenses	44	52	54	—	—
Selling, General and Administrative Expenses	138	142	127	102	99
Income (Loss) from Operations	76	26	−7	−30	−29
Net Gain on Sale of Businesses	0	0	3	11	11
Loss on Settlement of Debt	33	10	0	—	—
Other (Income) Expense, Net	−738,000	2	−261,000	2	—
Interest Expense, Net of Interest Income	13	22	23	9	—
Income (Loss) Before Income Taxes	32	−8	−26	−30	−27
Provision for Income Taxes	3	8	110,000	6	−1
Net Income (Loss)	29	−16	−26	−36	−26
Basic Earnings (Loss) Per Share (in usd per share)	0.83	−0.46	−0.8	−1.11	−0.82
Diluted Earnings (Loss) Per Share (in usd per share)	0.81	−0.46	−0.8	−1.11	−0.82

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and Cash Equivalents	18	9	5	14	—
Restricted Cash	0	9	7	0	—
Accounts Receivable, Net of Allowance for Estimated Credit Losses	205	191	172	148	107
Inventories	197	200	192	188	158
Prepaid Expenses and Other Current Assets	18	17	15	16	45
Total Current Assets	438	426	390	365	340
Property, Plant and Equipment, Net of Accumulated Depreciation	107	81	85	91	95
Operating Right-of-Use Assets	32	24	28	13	16
Other Assets	11	8	7	9	5
Intangible Assets, Net of Accumulated Amortization	55	52	65	79	94
Goodwill	63	58	58	58	58
Total Assets	707	649	634	615	609
Accounts Payable	41	43	61	64	35
Accrued Payroll and Employee Benefits	35	33	22	16	20
Accrued Income Taxes	1	7	3	6	3
Current Operating Lease Liabilities	6	5	5	4	7
Other Accrued Expenses	32	41	21	24	27
Customer Advanced Payments and Deferred Revenue	26	27	22	33	27
Total Current Liabilities	141	156	143	152	119
Long-term Debt	334	169	159	160	163
Supplemental Retirement Plan and Other Liabilities for Pension Benefits	27	24	29	27	31
Long-term Operating Lease Liabilities	38	21	24	10	12
Other Liabilities	25	22	27	26	26
Deferred Income Taxes	640,000	1	1	2	1
Total Liabilities	567	393	384	375	353
Additional Paid-in Capital	5	144	130	99	92
Accumulated Other Comprehensive Loss	−4	−4	−9	−10	−14
Retained Earnings	217	192	210	240	287
Treasury Stock, 2,750,744 Shares at December 31, 2025 2,694,255 Shares at December 31, 2024	−77	−77	−81	−90	−109
Total Shareholders Equity	140	256	250	240	257
Total Liabilities and Shareholders Equity	707	649	634	615	609

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and Amortization	22	24	26	28	29
Amortization of Deferred Financing Fees	3	3	3	0	0
Provisions for Non-Cash Losses on Inventory and Receivables	10	14	16	3	4
Equity-based Compensation Expense	7	9	7	6	6
Deferred Tax (Benefit) Expense	−1	−20,000	146,000	19,000	−441,000
Operating Lease Non-cash Expense	6	5	5	6	5
Simplification Initiative-related Non-cash Charges	6	0	0	0	267,000
Non-cash 401K Contribution and Quarterly Bonus Accrual	0	3	7	5	4
Non-cash Annual Stock Bonus Accrual	0	0	3	0	—
Non-cash Litigation Provision Adjustment	0	4	−1	500,000	—
Non-cash Deferred Liability Recovery	0	0	−6	0	0
Other	−418,000	6	2	3	4
Accounts Receivable	−8	−22	−32	−42	−15
Inventories	−4	−22	−13	−34	−5
Accounts Payable	−3	−18	−4	28	9
Accrued Expenses	−15	22	5	1	−5
Income Taxes	−8	4	−2	16	156,000
Operating Lease Liabilities	−5	−5	−5	−7	−6
Tenant Improvement Allowance Refund	8	0	0	—	—
Cloud Computing Implementation Costs	−1	0	0	—	—
Customer Advanced Payments and Deferred Revenue	−4	6	−5	5	−235,000
Supplemental Retirement Plan Liabilities	−716,000	−410,000	−408,000	−405,000	−404,000
Other Assets and Liabilities	2	2	1	−145,000	327,000
Net Cash from Operating Activities	75	31	−24	−28	−6
Capital Expenditures	−32	−8	−8	−8	−6
Acquisitions of Businesses, Net of Cash Acquired	−22	0	0	—	0
Proceeds from Sale of Businesses and Assets	0	0	4	22	9
Net Cash from Investing Activities	−54	−8	−4	14	3
Proceeds from Long-term Debt	186	377	140	—	—
Principal Payments on Long-term Debt	−111	−375	−131	−125	−30
Proceeds from Issuance of Convertible Debt	225	0	0	—	—
Partial Repurchase of 2030 Convertible Notes	−286	0	0	—	—
Payments for Capped Call Transactions	−27	0	0	—	—
Financing-Related Costs	−10	−12	−7	−2	0
Financing Settlement Costs	0	−4	0	—	—
Stock Award and Employee Stock Purchase Plan (ESPP) activity	753,000	−241,000	2	97,000	3
Proceeds from At-the-Market (ATM) Stock Sales	0	0	21	0	0
Other	−141,000	−145,000	−47,000	−93,000	—
Net Cash from Financing Activities	−22	−15	25	−1	−8
Effect of Exchange Rates on Cash	1	−493,000	156,000	−641,000	−799,000
(Decrease) Increase in Cash and Cash Equivalents and Restricted Cash	−248,000	7	−2	−16	−11
Interest Paid	9	19	18	8	6
Income Taxes Paid, Net of Refunds	12	4	2	−10	−1
Capital Expenditures in Accounts Payable	2	0	0	490,000	0

Filings

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