Astronics Corp (NASDAQ: ATRO) reported Q3 EPS of $0.52, $0.03 better than the analyst estimate of $0.49. Revenue for the quarter came in at $212.7 million versus the consensus estimate of $208.59 million.

GUIDANCE:

Astronics Corp sees Q4 2018 revenue of $190-200 million, versus the consensus of $202.4 million.

• Fourth quarter sales are forecasted to be in the range of $190 million to $200 million, with $170 million to $175 million expected from the Aerospace segment and $20 million to $25 million from the Test segment.
• Consolidated annual sales for 2018 are forecasted to be in the range of $790 million to $800 million, with $670 million to $675 million expected from the Aerospace segment and $120 million to $125 million from the Test segment.
• Consolidated backlog at September�29, 2018 was $398.1 million. Approximately 47% of backlog is expected to ship in 2018.
• We expect the effective tax rate for the fourth quarter to be in the range of 18% to 21%. The effective tax rate for the year, inclusive of the adjustments referred to above, is expected to be in the range of 10% to 13%.
• Capital equipment spending in 2018 is expected to be between $18 million to $22 million, lower than the prior forecast of $24 million to $28 million.
• E&D costs for 2018 are expected to be in the range of $115 million to $120 million, up slightly from the previous forecast of $110 million to $115 million.
• Mr. Gundermann concluded, “We expect to finish 2018 with a solid fourth quarter, though it will be a little lighter than the second and third quarters. Revenue will be weighted more towards Aerospace and Test will be lighter. Also, we believe our record backlog and continued strong demand for our products sets us up well for another year of growth in 2019.”

For earnings history and earnings-related data on Astronics Corp (ATRO) click here.