AstroNova (NASDAQ: ALOT) reported Q3 EPS of $0.06, $0.11 worse than the analyst estimate of $0.17. Revenue for the quarter came in at $33.3 million versus the consensus estimate of $33.8 million.

Third-Quarter Fiscal 2020 Summary

• Bookings of $32.6 million
• Revenue of $33.3 million
• Operating income of $0.4 million
• Earnings per diluted share of $0.06

CEO Commentary

“Our Test & Measurement segment faced continued headwinds in the third quarter related to the ongoing grounding of the 737 MAX,” said AstroNova President and CEO Greg Woods. “In Product Identification, similar to the second quarter, we experienced some softness primarily as a result of weaker demand from a few customers in Asia. In spite of these short-term challenges, we believe that the underlying fundamentals in both businesses remain strong. We continue to invest in product innovation, strengthen our global marketing organization, and enhance our Aerospace service capabilities to drive and support future growth.

“During the quarter, we launched and showcased several new Product Identification solutions, including the QuickLabel® QL-850, the TrojanLabel® T3-OPX and the TrojanLabel® T2-L, which expand our addressable market, creating new opportunities in the areas of digitally printed labels and flexible packaging,” Woods said. “We’re also particularly excited about the new TrojanLabel® T5, all-in-one digital print and finish in-line labeling solution designed for professional printers and large brand owners.”

Business Outlook

“Our overall outlook remains positive, and we continue to expect modest revenue growth in fiscal 2020,” Woods said. “While the combination of industry headwinds and the investments we are making in future growth are likely to impact near-term results, we are confident in our long-term growth prospects and are well positioned to address favorable secular growth trends across our business.”

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