AstroNova (NASDAQ: ALOT) reported Q4 EPS of $0.32, versus $0.09 reported last year. Revenue for the quarter came in at $38.6 million versus the consensus estimate of $34.94 million.

Fourth-Quarter Fiscal 2019 Achievements (all comparisons with fourth-quarter fiscal 2018)

• Record bookings of $38.6 million, up 11%
• Record revenue of $37.2 million, up 14%
• Record operating income of $2.9 million, up 37%
• Earnings per diluted share of $0.32, up 256%

CEO Commentary

“We achieved strong operating and financial results in both the fourth quarter and fiscal year,” said President and CEO Greg Woods. “Our 2019 performance was fundamentally about good strategic execution. New product initiatives, pricing and geographic expansion helped grow our top line, while increased operating efficiencies and cost improvements drove a larger percentage of that growth through to the bottom line. Our team of more than 375 people around the world work hard to support our commitment to quality and customer service, and I am exceptionally proud of those efforts during the past year.

“The Test & Measurement segment accounted for a significant share of the Company’s 21% top-line growth in fiscal 2019,” Woods said. “This primarily reflected a full year of revenue associated with the flight deck printer line we acquired in September 2017 from Honeywell International and growing demand for our ToughWriter 640 printer. The quarter also benefited from a large aerospace customer order received late in January that we were able to manufacture and ship in record time.

“Our Product Identification segment grew 6% for the year, highlighted by strong demand for our Trojan® T2-C and Trojan® T4 presses as well as the continued momentum of our supplies business,” Woods said. “In January, we continued to broaden our market opportunity in this segment with the launch of the QL-300. It is the industry’s first 5-color toner-based tabletop printer designed specifically for production label printing.”

Business Outlook

“Looking ahead, we anticipate another strong year in fiscal 2020 with modest revenue growth and increasing operating margins as we rigorously apply the principles of the AstroNova Operating System, focus on working capital utilization, and continue to improve the leveraging of our operating expenses,” Woods said. “We believe this, coupled with our on-going commitment to product innovation, will further strengthen our fundamental competitiveness.”

For earnings history and earnings-related data on AstroNova (ALOT) click here.