AstroNova (ALOT) Misses Q3 EPS by 2c, Revenues Miss

AstroNova (NASDAQ: ALOT) reported Q3 EPS of $0.00, $0.02 worse than the analyst estimate of $0.02. Revenue for the quarter came in at $28 million versus the consensus estimate of $28.85 million.

• Bookings of $27.9 million
• Backlog of $23.2 million
• Revenue of $28.0 million
• Operating income of $0.4 million
• Net income of $0.0 million, or $0.00 per diluted share
• EBITDA of $1.7 million, or 6.1% of revenue

“Our Product Identification segment delivered both revenue and margin improvements in the quarter while Test & Measurement continued to reflect the effects of the Boeing 737 MAX grounding and COVID-19 on the commercial aerospace industry,” said Greg Woods, AstroNova’s President and Chief Executive Officer. “Overall performance was aided by continuous improvement initiatives and reduced operating expenses. During the quarter we continued to invest in new products and technologies to support growth across our businesses.

“In Product Identification, strong demand from our TrojanLabel®, QuickLabel® and GetLabels® product lines drove year-on-year and sequential growth in both revenue and operating profit,” Woods said. “Our product and technology innovations are attracting a broader base of customers to our color label and specialty printing systems. We are helping businesses across a wide spectrum of industries enhance efficiency, eliminate waste and increase brand recognition.

“In our Test & Measurement segment, growth in our defense business partly offset weakness in commercial aerospace caused by the external headwinds. Looking ahead, recent progress on the potential approval of multiple coronavirus vaccines, and the FAA’s November decision that cleared the 737 MAX for a return to service, bode well for the T&M segment as we move through fiscal 2022 and beyond,” Woods concluded.

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

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