AstroNova Inc. (NASDAQ: ALOT) announced that its board of directors has begun reviewing strategic alternatives aimed at maximizing shareholder value, according to a company statement.

The West Warwick, Rhode Island-based printing technology company said the board will consider various options including a sale of all or part of the company, strategic investment, merger, business combination, or other alternatives. The review may also result in continuing with the company's current standalone strategic plan.

"The Board and management are focused on closing the gap between the capital market's valuation of the Company and our perspective of AstroNova's intrinsic value," said President and CEO Jorik Ittmann in the statement.

AstroNova has retained Rockefeller Capital Management as its financial advisor and Foley Hoag LLP as legal counsel for the review process. The board has not established a timeline for completing the review and does not plan to provide updates unless disclosure becomes appropriate or legally required.

The company stated there is no guarantee the strategic review will result in any transaction or strategic change.

AstroNova operates two business segments: Product Identification, which provides marking and identification solutions for labels and packaging, and Aerospace, which supplies airborne printing solutions and avionics equipment.

The company plans to report fourth quarter and fiscal year-end financial results after market close on April 13, 2026, followed by a conference call at 8:30 a.m. ET on April 14, 2026.