Astronics Announces $177 Million in Preliminary Bookings and Record Backlog for Q4 2021

Astronics Corporation (Nasdaq: ATRO), a leading provider of advanced technologies for global aerospace, defense and other mission critical industries, today announced preliminary revenue and bookings while providing an update on liquidity events and a ruling on an intellectual property dispute in the U.K.

Preliminary Fourth Quarter Revenue of $116 Million; Book:Bill Ratio of 1.5x

Astronics’ unaudited preliminary revenue in the fourth quarter of 2021 was approximately $116 million of which approximately $99 million was from the Aerospace segment and $17 million was from the Test segment. For the full year, sales were approximately $445 million.

Preliminary bookings in the fourth quarter of 2021 were $177 million, which included $30 million from the Company’s Test segment. Bookings for the Aerospace segment were approximately $147 million, nearly double the $74 million in bookings realized in the fourth quarter of 2020.

Total bookings for 2021 were approximately $577 million, a 35% increase over total bookings received in 2020. Aerospace segment bookings for 2021 were approximately $509 million, up 53% over $333 million in bookings in 2020.

Backlog at year end was an estimated $416 million, a new record for the Company.