AstroNova (NASDAQ: ALOT) reported Q4 EPS of ($0.19), $0.22 worse than the analyst estimate of $0.03. Revenue for the quarter came in at $30.5 million versus the consensus estimate of $33 million.

Fourth-Quarter Fiscal 2020 Summary

• Bookings of $36.0 million
• Backlog of $25.2 million
• Revenue of $30.5 million
• Operating loss of $1.6 million
• Loss per diluted share of $0.19

CEO Commentary

“The impact of the grounding of the 737 MAX and the unexpected production halt announcement in December on our Test and Measurement segment, combined with ongoing relative weakness for the Product Identification segment in Asia, continued to affect our revenue and margins in the fourth quarter,” said President and CEO Greg Woods. “However, demand growth in regions outside of Asia drove positive fourth-quarter bookings in our Product Identification segment. We saw an enthusiastic response to our new products at several trade shows in the fall, and we are seeing indications of that customer interest translating into bookings momentum.

“As a result of the near-term industry dynamics, most notably the Boeing 737 MAX production halt, we have taken actions to bring our costs in line with the current market environment,” continued Woods. “We implemented a 5% headcount reduction and other initiatives that we expect to result in an annualized expense savings of $1.5 million to $2.0 million. At the same time however, we continue to invest in those strategic initiatives that we believe will drive growth and profitability for AstroNova.”

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